Pakistan taking US aid to pay Chinese loans. Pakistan also played a key role in establishing diplomatic relations between China and the US, which helped China a lot. It also shows that Chinese economy has weakened. But that would NOT be a "write off", that would be a business transaction! He said the UN appeal aimed to provide 5.2 million people with food, water, sanitation, emergency education and health support. I am surprised there has be no statements from China. The only country prone to climate change. Bilawal said that US President Joe Biden, who signed a landmark domestic climate package last month, also needed to look at climate justice. Floods have affected 33 million Pakistanis, inflicted billions of dollars in damage, and killed over 1,500 people creating concern that Pakistan will not meet debts. China, Pakistan and other EU countries are equally responsible for the climate mess. You are totally dependent on foreign aid. Then more money will fall into PDM coffers. US will not take over Pak territory/ port if Pak defaults IMF like how China took over Srilankan port for loan default. How much did the travel junkets by the PM and the FM cost, staying in five star hotels. It's not in their policy. These assembly plants import ready made parts from other countries and fix those parts into the final assembly and thus no investment comes why don't these companies manufacture in our country is all and all politics. @Manika, I can uderstant your anger, heard manika's were enjoying special privilege during previous selected hybrid regime :-). The floods are a political blessing for this government. Wake up and get real. That's what shaukat tarin was saying for IMF deal. In August, the IMF approved a much-needed $1.17 billion loan disbursement after tough negotiations to prevent Pakistan from defaulting on loan repayments. @Dr Asif , Xi can take care of Pakistan's pain with the stroke of a pen tomorrow if he pleases. @Manika, all this talk about the US toppling Pakistans government is question of Pakistan own credibility as a so called democracy. It has enormous natural resources, particularly oil and natural gas. @Dr Asif , So, mutual trust and friendship means the Chinese will not forgive the loans they gave to Pakistan? Tomorrow, it could be your country.". See todays top stories. Siding with India on every issue against Pakistan. All the CPEC roads China built have been washed out in the floods. Dar said that he views the true value of the rupee at a level under 200 to the dollar. China does not want to forgive loans for Pakistan. For both countrieshow about waiving the debt? The South Asian foreign ministers were not expected to meet in Washington. Pakistan is in a catch-22 but the ball is in Chinas court. That is "the statement" from a statesman. Takes loans and do not return. Firstly write of all the western debts then open your mouth. Pakistans strategic location benefits Chinas economic expansion but is of no value to the West after it firmly secured interdiction capabilities in Afghanistan, without Pakistans help. I am for market-based, but not subject to a currency being taken hostage" and making speculators billions of dollars. Now SS may have to even go and grovel before Putin, not just the Chinese. The economy of Russia has gradually transformed from a planned economy into a mixed market-oriented economy. Stay up to date with our daily newsletter, European Shares Gain Ground On Boost From Travel Stocks, More Transparency Needed For 'Non Banks' After Gilts Turmoil, Says Bank Of England, UK Bond Turmoil Leaves Smaller Pension Schemes With Longer-term Costs, Chinese Stockpickers Down 21% For 2022- HSBC Data, Dollar Gains As China Sticks To Stringent COVID Policy, Souring Risk Sentiment. If China writes off debt, will the Paris club follow suit? Immediately after holding a meeting with Bilawal, Blinken was hosting a dinner for Indias FM. The Trading Economics Application Programming Interface (API) provides direct access to our data. who is complaining about the USA aid to Pakistan. ISLAMABAD: Federal Minister for Finance and Revenue, Mohammad Ishaq Dar said that Pakistan would seek rescheduling of some $27 billion worth of non-Paris Club debt largely owed to China, but will not pursue haircuts as part of any restructuring.In an interview with British News Agency, Reuters, the minister ruled out the possibility of a default on Pakistans debt, an extension of the maturity date on bonds due in December or a renegotiation of Pakistans current International Monetary Fund (IMF) program. So asking for a suspension to payback shouldnt be a problem for the deep ocean friend..right? Mr. Blinken knows how to embarrass China. The US and the West is the low hanging fruit. Not in loans or debt write off. Why not just to go higher than mountain best friend China? @Hamed, starving? 'People power is being cynically used to pressurise the powers that be to abjure their neutrality claim. Finance ministers from many countries and multilateral lenders gather in the U.S. every year to discuss the state of the global economy. We can only laugh and cry at what stands out as our brutalisation. Flood restitution won't be done and debts also won't be paid, but Zardari Zamindar will become rich. Monsoon, flood costs Bilawal was on fast. China is only keeping its interests supreme vis a vis Pakistan as does the US . @Ravi Dhar, Indian FM was starving! If that is 10% of our debt, are you saying our total debt is $650 billion? Pakistan external debt for 2020 was $116,505,539,224, a 7.97% increase from 2019. first everyone needs to pay their taxes and elect good leaders. By definition, Pakistans national debt is only managed by the central governments Ministry of Finance.The full name of that government department is the Ministry of Finance, Revenue, and Economic Affairs. Aid is starting to arrive after Pakistan launched its own appeal for help. "400 million RMB" or $55 million (where did it go?). The US itself has gone bankrupt Why don't they see that!?! Mutual respect comes if you dont borrow or live off aid. These are already outdated in the US. Debt waive is not in their culture. The first hyphenated politician in Pakistan. FOLLOW MORE IBT NEWS ON THE BELOW CHANNELS, IBT Fast Start - Let the best of International News come to you. Both CPF and SCD will draw from the flagship Pakistan@100: Shaping the Future initiative which seeks to identify the main changes necessary for Pakistan to become an upper middle-income country by the time it turns 100 years old in 2047. Same goes for Gwadar port. It is a suprise that China says it has provided 500 million in aid already. "Things are so expensive because of this flood that we can't buy anything," Zahida Bibi, a shopper at a market in Lahore, told AFP news agency. Password requirements: 6 to 30 characters long; ASCII characters only (characters found on a standard US keyboard); must contain at least 4 different symbols; Bani Gala house of PTI chair, incorruptible is more than 10M, Bilawal house Lahore could be $20M. Trading Economics members can view, download and compare data from nearly 200 countries, including more than 20 million economic indicators, exchange rates, government bond yields, stock indexes and commodity prices. Dar was in Washington to participate in annual meetings of the International Monetary Fund and the World Bank. Hope PPP gets rid of this menace soon. We didnt get comparable development deals after the so-called CPEC. @Januraja, Shahbaz Sharif already tried it and failed. "In this scenario, we have the possibility to approaching and accessing this facility," he said. Pakistan's external debt is more than $130 billion, and its debt-to-GDP ratio is close to 75%. Will need some sort of intellect translater. China tried to use Pakistan as a counter weight to India but got beat on its own game by the US by India becoming a counter weight to China .Instead of dwarfing india its accelerated their growth. At the same time, the global community needs to ensure that investments in climate change-resilient infrastructure are overlooked by reputable NGOs / individuals & are based on pre*-approved plans instead of allowing 'influential individuals' to siphon off this opportunity as well. US Does not understand Chinas friendship with Pakistan. Pakistan's new finance minister, Ishaq Dar, told Reuters on Friday that he will seek rescheduling of some $27 billion worth of non-Paris Club debt largely owed to China, but will not pursue haircuts as part of any restructuring. What do we expect then? @Multani, Washington, whose alliance with Islamabad has frayed, has repeatedly charged that China will reap the benefits while Pakistan will face unsustainable debt. So both the West & China should offer to Pakistan,favorable trade deals and investments,so jobs are created, instead of loans or debt write offs. Some 1,600 people one-third of them children have died in Pakistan's floods and more than seven million have been displaced, amid fears that such severe disasters will become more common due to climate change. @Atul, Atul saheb, you are our real neighbor and you are too big. This is what happens to a country when education comes far behind on the national agenda and the state's priorities are so confused. Do not transfer dollars via banks. Don't know what they are doing. please pass it on. US certainly not. Dar, however, told VOA that he's sure Pakistan can meet its financial obligations. "We'll talk to all bilaterals, you know, creditors and lenders. @Az_Iz, US had invested and so did China , both know at the moment it does not throw more money in a bottomless pit. They all Look excited. Pakistan, despite being the fifth most populous country, contributes only about 0.8 per cent of greenhouse gas emissions blamed for climate change due to its state of development. US Secretary of State Antony Blinken on Monday called on Pakistan to seek debt relief from close partner China as floods devastate the country. Many of the leading GDP-per-capita (nominal) jurisdictions are tax havens whose economic data is artificially inflated by tax-driven corporate accounting entries.. For instance, the Irish GDP data above is subject to material distortion by the tax planning activities of foreign multinationals in Ireland. Debt held by the public was approximately 77% of GDP in 2017, ranked 43rd highest out of 207 countries. Your debt is your problem not others. While jaishankar has reached his position with hard work , consistency and on top of merit, Bhutto has reached by cheating and fraud. It gives us a bad image & reputation. @Aragon, you are underestimating Shankar by giving him just. No dinner for Bilawal? Bilawal stands besides him as his little school student! Pakistan helped the West in defeating the Soviets, and the West has and will continue to reap the benefits of peace dividends. This page provides - Pakistan @Ravi Dhar, Immediately after holding a meeting with Bilawal, Blinken was hosting a dinner for Indias FM. During COVID in the US, no one paid rent or mortgage for 18 months. Sign up and stay up to date with our daily newsletter. Long Live China Pakistan friendship! @ABE, Pakistan will pass from this hard times. Dar is serving an unpopular coalition government that took the reins after removing the populist Prime Minister Imran Khan in a parliamentary vote of no confidence in mid-April. Let's start wiping out chinese debt first, shall we? Floods have affected 33 million Pakistanis, inflicted billions of dollars in damage, and killed over 1,500 people creating concern that Pakistan will not meet debts. But Pakistan refused the help from Bangladesh, so why India and China must send help. You borrow you pay. Iron Brother China needs to do more. With the way imported Govt is running Pakistan we should just sell Pakistan and migrate to USA. What did people ditch tweets for? This is as bad as it gets. The Pakistan Systematic Country Diagnostic: Leveling the Playing Field (SCD) has recently been published. The West has,and will,continue to reap the benefits of the peace dividends,in Trillions.The aid given to Pakistan hardly covered the costs incurred ,including opportunity cost.
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