Pakistan's Goodbye to IMF

[SMC]

When all other arguments fail

When did I argue? You bharatis repeatedly claim you do not care about Pakistan's internal issue. This shows quite the opposite - matter of fact shows an obsession with this sort of stuff.

 

[RiazHaq]

Is Fiscal deficit the only parameter to judge how an economy is doing.. INstead of complicating things, keeping them simple generally works better..

At the end of the day, the numbers that matter are that India has enough reserves to pay off its debt and then some..

On the other hand, Greece and Pakistan dont..

Thats generally enough for me.. Add to that the credit rating (the assessment of the ability of the borrower to pay the borrowed amount back) of the three countries and I am pretty sure its Pakistan that is closer to Greece.. Last I saw, Pakistan was 1 notch above the junk bonds and that too after the IMF bailout..

Please study the research on twin deficits and how the two affect each other to assess which nation is closer to the situation in Greece.

Greece did not happen in a day; it took years of twin deficits before the bondholders and investors stopped lending and investing last year.

India has had persistent fiscal deficits for decades and its total fiscal deficit including fed and states is over 11%, far higher than Pakistan's 5-6% of gdp. This deficit spending feeds into India's growing inflation and rising trade deficits by stimulating consumption and increasing imports.

 

[Veeru]

Please study the research on twin deficits and how the two affect each other to assess which nation is closer to the situation in Greece.

Greece did not happen in a day; it took years of twin deficits before the bondholders and investors stopped lending and investing last year.

India has had persistent fiscal deficits for decades and its total fiscal deficit including fed and states is over 11%, far higher than Pakistan's 5-6% of gdp. This deficit spending feeds into India's growing inflation and rising trade deficits by stimulating consumption and increasing imports.

I can answer all of ur misplaced facts but it will derail this thread, plz stick to pakistan as its the topic not India.

 

[SHAMK9]

lmfaoo, its funny how always an indian posts some bad news about pakistan and later on tells people not to bring india in it, hilariouss!!!

 

[Mike2011]

Current exchange rate: 1 USD ~ 90 pkr.

Soon it will reach 150. May be in 4-6 months.

- No Aid
- No IMF loan
- No remittance due to unemployment in West.
- Oil collapse. No hand out from arabs.

Future looks gloom for pakistan. Good luck.

 

[karan.1970]

When did I argue? You bharatis repeatedly claim you do not care about Pakistan's internal issue. This shows quite the opposite - matter of fact shows an obsession with this sort of stuff.

That holds true for most of India, however its a little foolish to presume that Indians who are spending time on a Pakistani defense forum are not interested in internal issues of Pakistan. I will even agree that some of us actually enjoy posting bad news about Pakistan...

Its really not obsession.. May be sadistic pleasure or may be a feeling of vindication when things go south in Pakistan.. Mostly though its just plain and simple laughs when folks like you talk of obsession and Rafi of Inferiority complex

 

[karan.1970]

Please study the research on twin deficits and how the two affect each other to assess which nation is closer to the situation in Greece.

Greece did not happen in a day; it took years of twin deficits before the bondholders and investors stopped lending and investing last year.

India has had persistent fiscal deficits for decades and its total fiscal deficit including fed and states is over 11%, far higher than Pakistan's 5-6% of gdp. This deficit spending feeds into India's growing inflation and rising trade deficits by stimulating consumption and increasing imports.

Ok.. However, looks like Pakistan is miles ahead on the road you claim India to be on. You are expecting, rather hoping that the twin deficits you mentioned will cause great pain to the Indian economy's growth story.. However for Pakistan, that has already happened.. The 2008 crisis and the IMF bailout and downgrade of Pakistan's sovereign rating to just a notch above junk bonds...

And even today the fiscal deficit in Pakistan is way ahead of India..

btw, Pakistan's fiscal deficit = 6.2 % the current year
Pakistan's FY10/11 fiscal deficit likely to be 6.2 pct of GDP - c.bank | Reuters

India's fiscal deficit for the current year : 4.6%
India hopeful of 4.6 pc fiscal deficit target

 

[Night_Raven]

If the worst 5% of the India story got 95% of the coverage as it does for Pakistan, it would go like this:

India is home to the world's largest population of poor, hungry and illiterate peope 64 years after independence.

Bringing India into the thread unnecessarily, as usual of Mr. Haq.

And where did you learn economics from ?

Having budget deficit DOES NOT mean faltering economy.

Keep your fundas and rose-tinted glasses to yourself.

 

[53fd]

US's fiscal deficit expressed as % of GDP (2011): 10.8%

Japan is at 10%. Does it mean Pakistan is faring better than Japan or the US? No.

 

[gulte]

US's fiscal deficit expressed as % of GDP (2011): 10.8%

Japan is at 10%. Does it mean Pakistan is faring better than Japan or the US? No.

But Pakistan is no US or Japan.

 

[Dr. NooB NinjA]

What do you mean by "written off "..? Does that mean that they dont have to pay the loan back..? If this is the case then there is some serious flaw in the system which seems to be highly skewed in the favor of rich..

In India, sometimes when the situation of a region becomes very bad ( like famine or, flood ), Govt. decides to write off to the loans for the affected people..But mostly interest is not charged..They have to pay back the principle..

Loans were written off quite a few times in INDIA also.... Remember the UPA govt farmer loan write off scheme some 3-4 years back??!! 75000 crore rupees written off... And seriously telling u not only very poor farmers got their loans waived... My dad was one of those poor farmers... Got his 3.5 lakh loan written off under the scheme..! lol.... And we are like very very part time farmers... And were in a very good condition to pay back the loan too.. But this is INDIA, and **** happens here, quite very often..!!

 

[mughaljee]

Is this really going to happen. ?

 

[Hyde]

Current exchange rate: 1 USD ~ 90 pkr.

Soon it will reach 150. May be in 4-6 months.

- No Aid
- No IMF loan
- No remittance due to unemployment in West.
- Oil collapse. No hand out from arabs.

Future looks gloom for pakistan. Good luck.

laaaal.... you really need to wake up now

150 when my children's are grown up

 

[Jango]

this maybe off topic, but Petrol in India is around ?140ish? as far as i know. In Pakistan, it is 70ish, and one PKR is equal to around 2 Indian Rupees. So, The petrol is same. So, why are we giving more of a ruckus over this issue, considering the oil prices are international.

 

[great]

this maybe off topic, but Petrol in India is around ?140ish? as far as i know. In Pakistan, it is 70ish, and one PKR is equal to around 2 Indian Rupees. So, The petrol is same. So, why are we giving more of a ruckus over this issue, considering the oil prices are international.

Hehe.. Its because petrol in India is heavily taxed. While diesel, LPG and Kerosene are subsidized. India cares for its poor than its rich. Quite the opposite in Pakistan.