US forgives $1B Pakistani Debt

Society Pakistan & World Affairs
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(http://http://story.news.yahoo.com/news?tmpl=story&u=/ap/20030405/ap_on_re_mi_ea/pakistan_us_debt_relief&cid=716&ncid=716)

By PAUL HAVEN, Associated Press Writer

ISLAMABAD, Pakistan - The United States wrote off $1 billion in Pakistani debt in a ceremony in the capital on Saturday, one of the rewards for President Gen. Pervez Musharraf’s support for the war on terrorism.

The debt relief represents nearly one third of what Pakistan owes the United States. The rest of the money was rescheduled on more favorable terms last year with approval from Congress.

“Today’s signing represents a promise kept and another milestone in our expanding partnership,” U.S. Ambassador Nancy Powell said at a signing ceremony with Pakistani officials.

Powell added that “the United States is in Pakistan for the long-term.”

The often tense relationship between the United States and Pakistan came to a head in the days after the Sept. 11 attacks.

As President Bush (news - web sites) rallied countries to back a strike on Osama bin Laden (news - web sites)'s al-Qaida network and its Afghan hosts, he demanded Pakistan decide whether it was an ally or enemy of the United States.

Musharraf chose to be an ally, severing ties with Afghanistan (news - web sites)'s Taliban regime and allowing U.S. troops to use Pakistan territory for logistical operations.

Since the war, Pakistan has been vital in the hunt for al-Qaida fugitives. Three of the top al-Qaida arrests have occurred in Pakistan, including the March 1 arrest of Khalid Shaikh Mohammed, the alleged mastermind of the Sept. 11 attacks.

The decision to back Washington has earned Pakistan dividends in the form of Western aid packages and debt relief, but it has also brought a wave of violence by Islamic extremist groups angry over Musharraf’s abandoning of the Taliban.

The relationship between America and Pakistan has been tested again over the war in Iraq (news - web sites). Pakistan has condemned military action against Saddam Hussein (news - web sites)'s regime, saying it preferred a peaceful solution. But the government has also blamed Iraq for refusing to disarm.

Pakistanis are overwhelmingly against the war, and anger at the U.S. action has helped a coalition of hardline religious groups surge in popularity in recent months. Still, officials on both sides said the debt relief was a sign of renewed friendship.

“The new relationship between the United States and Pakistan is not just about Sept. 11,” Powell said. “It is about the rebirth of a long-term partnership between our two countries.”

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whoopity dooooo!
There is no free lunch. As I see it Pakistani leaders would sell their soul to the devil for the right price, Country is not a big deal.

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What are you talking about? This was $1B that the country of Pakistan owed that has now been forgiven - what has thi sto do with leaders selling their soul?

That's a lot of money!

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[QUOTE]
*Originally posted by fayax: *
whoopity dooooo!
There is no free lunch. As I see it Pakistani leaders would sell their soul to the devil for the right price, Country is not a big deal.
[/QUOTE]
And who did you sell your soul to to be living in Houston?

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Good of old USA to do this…Now I wonder when we will have to sacrifice 10,000 to the altar of Capitalism or what piece of soil they want from us…

Teri jhooti shaan Amrika,
Meri mushkil jaan Amrika,
Tu hai sub ko marnaywala,
Main hoon tera mangnaywala,

Mujh ko bhi to lift karaday…
Thoree see to lift karaday…

Kuwait Qatar ko diya hai,
Bahrain Jordan ko diya hai,
Mujh ko bhi to lift karaday,
Thoree see to lift karaday…

F-16, Radar diladay
Aik nahin sau char diladay…:hehe:

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i've heard in return they got assurance from our government that all operations at our kahuta nuclear plant will be stopped. if thats actually the case, and it seems it is coz the US wont forgive a billion bucks for nothing, then it really is an absolute shame. With india spitting fire like it always senselessly does, a nuclear plant closure is only going to harm is militarily, i hope and think a nuclear confrontation would prolly never occur. still if this is true, then just goes to confirm that bush has another poodle in musharraf.

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i've heard in return they got assurance from our government that all operations at our kahuta nuclear plant will be stopped. if thats actually the case, and it seems it is coz the US wont forgive a billion bucks for nothing, then it really is an absolute shame. With india spitting fire like it always senselessly does, a nuclear plant closure is only going to harm us militarily, although i hope and think a nuclear confrontation would prolly never occur. still if this is true, then just goes to confirm that bush has another poodle in musharraf.

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even though 1b$ have been forgivenwhat good does it do the ppl. it doesnt matter there were taxes before and they will still remain. ppl will still suffer no matter how much loans are paid off or forgiven. its the corrupt government who has sold its soul to the enemies of Islam.

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[QUOTE]
*Originally posted by akpower: *
i've heard in return they got assurance from our government that all operations at our kahuta nuclear plant will be stopped.
[/QUOTE]

Where did you hear that from? This claim sounds absolutely ridiculous (together with the rest of the post). Musharraf's government has been almost entirely dependent on nuclear weapons to silence all Indian threats of agression since 1999 - they are effectively now the foundation stones of Pakistan's military policy vs India. In fact, Musharraf has deployed nuclear weapons to combat positions to deter India more often than any Pakistani leader has, since Pakistan first developed nukes in the 80s. It's ridiculous to imagine that one of the leading beneficiaries of Pakistan's nukes would put any brakes on the programme.

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Bored in Brisbane

The government is doing the best it can in the circumstances it finds itself in. Thw world is not fair, and one has to do the best wityh the card s one is dealt.

as far as emotional rhetoric like selling souls to enemy of deen and what nots. I wonder what clwons like MMA would have done. To date i have not seen a real plan from them regarding anything.

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*>>even though 1b$ have been forgivenwhat good does it do the ppl. it doesnt matter there were taxes before and they will still remain. *

Last I checked the Economic Report of Pakistan (in 1999), more than 52% of our revenue collection was ear-marked for paying back the debt and defence spending. If loan is forgiven, that much money is released to be spent elsewhere. Whether it is spent on development activities or elsewhere depends on Pakistani government.

By the way, I am really unfamiliar with the latest #'s, but I thought we had like $12 billion of foreign debt. Plus twice or thrice of that as domestic debt. If thats the case $1b are the proverbial peanuts. Can someone share the latest #'s of debt position of Pakistan?

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assalamoalikum :jhanda:

although $1 billion us dollars have been struck off as debt relief for pakistan from the world’s number 1 terrorist nation amreeca, there is still a long way to go.

we are still in debt by a staggering $27 billion us dollars, all thanks to the likes of nawaz sharif, benazir bhutto and all of the other ghadars.

                   :mad: :mad3: :mad2: :smack: :frusty:
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is pakistan viable economically if it pays all the debt and refuses
external aid?

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[QUOTE]
*Originally posted by Imdad Ali: *
And who did you sell your soul to to be living in Houston?
[/QUOTE]

I see you have learnt quite well how to be rude to people by living in NY. Now kuttay ko pyar karnay walay mia, chuup ho jaoo.

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[QUOTE]
*Originally posted by mAd_ScIeNtIsT: *
Where did you hear that from? This claim sounds absolutely ridiculous (together with the rest of the post).

[/QUOTE]

there's nothing ridiculous in the claim or in the news post above. u honestly think that US is going to forgive $1B for nothing?! Give me a break. this is a lot of money we're talking abt. ths US and israeli lobby has been for yrs trying to device a plan to get a direct or indirect control of pakistan's nuclear resources. that, according to them, will safeguard them against any possible muslim alliance that mite turn against them. also it makes sure that even if the mullahs get into power the nuclear technology will not entirely be at their disposal.

dont be surprised if u get to know abt it thru some other source. and in case of since and just n case u dont know abt the news u can confirm it on all major news sites.

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[QUOTE]
*Originally posted by akpower: *

there's nothing ridiculous in the claim or in the news post above. u honestly think that US is going to forgive $1B for nothing?!
[/QUOTE]

The US has written of debts to many other governments over the years without demanding concessions. Last October over, $0.2bn debt out of Serbia's $0.355bn debt to the USA was written off, without conditions attached.

Besides which, the $1bn debt write off is part of the aid package commited to Pakistan in return for Pakistan's cutting support to the Taliban. The reason it has only just been delivered is that it has taken time to push the law allowing this write-off through the US legislative assembly.

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[QUOTE]
*Originally posted by Kaleem: *
I see you have learnt quite well how to be rude to people by living in NY. Now kuttay ko pyar karnay walay mia, chuup ho jaoo.
[/QUOTE]
Are you also part of the same group of people living in America but still hate the country? The language you use tells me of your mentality.

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:rotfl::rotfl::rotfl:

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[QUOTE]
*Originally posted by Imdad Ali: *
Are you also part of the same group of people living in America but still hate the country? The language you use tells me of your mentality.
[/QUOTE]

What is wrong with you man? Why do you bash people who live in America and speak out against it...You may live a docile, submissive life being guilty of your colour and faith, but there are dynamic individuals out there who not only live in America but have the guts to speak out against it...Just like in Pakistan we have Pakis who bash Pakistan...There is no 'hate' involved here, just opinions...The only hate I see coming is from you against any desi who lives in America...Not everyone who is from another country lives a life with their tails tucked between their legs, some are outspoken and wish to bring change...Move to Russia...No desi will bash Russia and you can be happy...

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:hehe:

You are too damn funny…