Re: Pakistan to get $1.1bn from IMF in December: Dar
Mr Bird … Pakistan went to IMF first time in 1958 but borrowed first time in 1965. Since then, Pakistan was always indebted to IMF in one way or another and it was expected that Pakistan would never come out of IMF debt, but fortunately in 2004 Pakistan paid each and every penny of IMF and was free from IMF debt with solid economy and foreign exchange reserve position.
Unfortunately, once thugs got into power, Pakistan again went to IMF begging in 2008. Pakistan external debt is also increasing throughout since late 1950s. Increased to ~$40 billion in 1999 but again fortunately Pakistan debt started decreasing and was ~34 billion in 2004 but since then increased to ~40 Billion again by 2008. So, in a sense Pakistan external debt stayed constant from 1999 to 2008.
External aid to Pakistan also got reduced in 1999 but since 2008 it has leaped and thus external aid between 2008 to 2014 was several times over what it was between 1999 to 2008.
Pakistan debt (dollar and rupees) to GDP ratio was over 100 percent in 1999 (when Musharraf took over) but reduced to ~53 percent by 2008 … what now has again increased to 63 percent though Musharraf government put a restraint on itself introduced during Musharraf period that debt to GDP ratio should not increase above 55 percent.
So why Thug Nawaz could not do the same what was happening during Musharraf period? Keep away from IMF and keep the external debt from increasing … what Musharraf has already shown how to do.
Here is IMF debt and Pakistan:[TABLE=“class: moneyGreen, width: 590”]
[TR=“class: color1, bgcolor: #99CC66”]
[TH]Facility[/TH]
[TH]Date of
Arrangement[/TH]
[TH]Date of
Expiration or
Cancellation[/TH]
[TH]Amount
Agreed[/TH]
[TH]Amount
Drawn[/TH]
[TH]Amount
Outstanding[/TH]
[/TR]
Standby Arrangement
Nov 24, 2008
Sep 30, 2011
7,235,900
4,936,035
4,936,035
Extended Credit Facility
Dec 06, 2001
Dec 05, 2004
1,033,700
861,420
404,862
Standby Arrangement
Nov 29, 2000
Sep 30, 2001
465,000
465,000
0
Extended Credit Facility
Oct 20, 1997
Oct 19, 2000
682,380
265,370
0
Extended Fund Facility
Oct 20, 1997
Oct 19, 2000
454,920
113,740
0
Standby Arrangement
Dec 13, 1995
Sep 30, 1997
562,590
294,690
0
Extended Credit Facility
Feb 22, 1994
Dec 13, 1995
606,600
172,200
0
Extended Fund Facility
Feb 22, 1994
Dec 04, 1995
379,100
123,200
0
Standby Arrangement
Sep 16, 1993
Feb 22, 1994
265,400
88,000
0
Structural Adjustment Facility Commitment
Dec 28, 1988
Dec 27, 1991
382,410
382,410
0
Standby Arrangement
Dec 28, 1988
Nov 30, 1990
273,150
194,480
0
Extended Fund Facility
Dec 02, 1981
Nov 23, 1983
919,000
730,000
0
Extended Fund Facility
Nov 24, 1980
Dec 01, 1981
1,268,000
349,000
0
Standby Arrangement
Mar 09, 1977
Mar 08, 1978
80,000
80,000
0
Standby Arrangement
Nov 11, 1974
Nov 10, 1975
75,000
75,000
0
Standby Arrangement
Aug 11, 1973
Aug 10, 1974
75,000
75,000
0
Standby Arrangement
May 18, 1972
May 17, 1973
100,000
84,000
0
Standby Arrangement
Oct 17, 1968
Oct 16, 1969
75,000
75,000
0
Standby Arrangement
Mar 16, 1965
Mar 15, 1966
37,500
37,500
0
Standby Arrangement
Dec 08, 1958
Sep 22, 1959
25,000
0
0
Total
14,995,650
9,402,045
5,340,897
**
Here is Pakistan external ($) debt chart from 2005 to 2011 … **
**And now Pakistan dollar debt is reaching ~$70 billion … why is that? …why Pakistanis are getting under heavier debt every day that passes? … **are these thug brothers Zardari and Nawaz … curse on Pakistanis or economical retards?