Re: Moody put Positive Outlook for Economy & 5Banks
At least one default?
Nahi yaar, two defaults … one in late 1998 and other in Mid 1999.
Both when PMLN was in power, Thug Liar Shareef was PM and Figure Fiddler Ishaq Daar was Finance minister. I really feel surprised how people can trust economy in the hands of Liar Thug as PM and Figure Fiddler as Finance Minister.
Actually, Pakistan in entire history only defaulted twice and that also when when PMLN was ruling, Thug Nawaz the Liar was PM, and Figure fiddler Daar was Finance Minister.
Here is table with list of defaulting countries with years … between 1981 and 2003.
Above is name of countries that defaulted between 1981 and 2003. Check date 1998 and 1999 … you will see Pakistan mentioned as country that defaulted. First time in 1998 and second time in 1999. Default was so bad in 1999 that World bank came to rescue Pakistan.
Let me give more information on Pakistani default: Pakistan missed an interest payment in Nov 1998 but came out of default within grace period. Pakistan defaulted again in July 1999 and resolved the matter later.
PS: Even though Pakistan defaulted both in Nov 1998 and July 1999 … at places Nov 1998 default is not mentioned because Pakistan came out of default within grace period … and that happened as I believe when Saudi Arabia gave in bheek some dollars to Pakistan … and Pakistan figure fiddler Darr did every thing to hide SA ‘Bheek’.