SinoPak Iron Brothers 4 Life! He is correct. Pakistan's external debt is more than $130 billion, and its debt-to-GDP ratio is close to 75%. The world will lose all respect for our country. A recent report released by the World Bank said Pakistan's economy is expected to grow by a mere 2% this year because of the floods, and 5.8 million to 9 million people could be pushed into poverty "without decisive relief and recovery efforts to help the poor.". We have had our differences that's no secret, Blinken said. The vote looms - so who will win Congress? $425 million in weapons F-16 and $10 million for 33 million homeless flood victims shows the priorities-, what has china done for pakistan whom pakistan claims their best friend. It' s on Pakistan to pay heed and move on. GDP per capita in Pakistan averaged 911.18 USD from 1960 until 2021, reaching an all time high of 1507.11 USD in 2021 and a record low of 379.03 USD in 1960. Chinese also are affected by yearly floods but they don't ask USA for help. We are mobilizing resources; we are having commitments, he said. At a news conference in Washington, Dar said he had seen an initial joint report by the World Bank and the U.N. Development Program that puts Pakistan's flood-related damages at $32.4 billion and estimates the country will need over $16 billion for recovery. A Ghost of empty words. The GDP per capita is obtained by dividing the countrys gross domestic product, adjusted by inflation, by the total population. Once again, People's Republic of China is 100 percent right. @Rashid khan, Why are you spouting anti CPEC propaganda? It should know that Americans are not loved in Pakistan unlike the Chinese. Those who think can take advantage by imposing this fake imported government just see wait for election. Yes, 'Iron brother', 'all weather friends' are for what? 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. The World Bank pledged to provide $2 billion in aid to Pakistan after the bank's vice president for South Asia, Martin Raiser, had visited the country last month. Looks like ping pong going on between USA and China with a ball being Pakistan. The economy of Russia has gradually transformed from a planned economy into a mixed market-oriented economy. Indicated Pakistans submissive foreign policy totally failing to protect countrys interests & sovereignty . The PM fund should be used to buy corporate bonds floated by the FWO, NLC, etc. You are totally dependent on foreign aid. Dar, who served as Pakistan's finance minister three previous times -- most recently from 2013 to 2017 -- is known as a staunch defender of the rupee. Overall, Pakistan has gone to the international lender 23 times since becoming a member in 1950. Maybe another 3 years. Ban the Mualanas from doing anything other than running the Madrasas. Why didnt he say China have been playing their part now its your turn being one of the biggest polluters in the world. Dont work hard at all and keep borrowing and living in dreams comparing with super powers. Pakistan is now officially Chinese occupied failed state! who is complaining about the USA aid to Pakistan. We didnt get comparable development deals after the so-called CPEC. Bilawal is making ties with DC for a future more power share in Pakistan. Their carelessness caused people to suffer. Poor Hinna Rabbani Khar did even get a chance to speak, or input in this meeting - much less display her expensive handbag, to make the American hosts go green with envy.. Lets us all wait and see the response from our beloved big iron brother China. Iron brother bigger than Himalayas deeper than ocean sweeter than honey should let go $52B the loans or at least make it interest free. Every year, billions of dollars in business value, jobs, and capital are lost or sidelined as a result of businesses becoming insolvent and closing their doors. EXPLAINED: How do we know climate change is happening? @Dr Asif , In position to tell us to request China. Sadia, a student in Quetta, the capital of Balochistan province, said she felt helpless as her family were cut off in their home village of Jhal Magsi, about eight hours away. Credit rating company Moody's recently downgraded Pakistan, casting doubt on the country's ability to make loan payments. Pakistan should suspend international debt repayments and restructure loans with creditors after recent floods added to the countrys financial crisis, the Financial Times reported on Friday, citing a UN policy memo. If you keep doing this ie avoid paying beck the debts then in future international lenders will stop lending and this can be very brutal for economy. US will not take over Pak territory/ port if Pak defaults IMF like how China took over Srilankan port for loan default. Its based on debt trap and beneficial to only one country. @Mirza, Really? If that is 10% of our debt, are you saying our total debt is $650 billion? US sent $65 million in aid. Forget about any further loans, handouts an investment if Pakistan defaults. @Manika, Yes, he destroyed Moen Jo Daro, a protected site, by holding his Jalsa back in the day, @Ashley, I agree but state does influence the investment shift just like US is pushing its companies to move away from china thus reducing the investment and technology transfer. When will we come out of the illusion of friendship with US? We can't help you! Bilawal said that US President Joe Biden, who signed a landmark domestic climate package last month, also needed to look at climate justice. Chinese Foreign Ministry spokesman Wang Wenbin attends a news conference in Beijing, China. Pakistan also played a key role in establishing diplomatic relations between China and the US, which helped China a lot. There is no doubt that China has been our friend in tough times, whereas the US kept shouting Do More. Asked whether he discussed with IMF officials the possibility of borrowing from the Fund's new Resilience and Sustainability Trust for middle-income countries, Dar said "We have discussed all options.". Yeah but you are a Nuclear Islamic Super power. Blinken promised strong US support for Pakistan as it dries out from the floods, which have submerged one-third of the country, an area the size of the United Kingdom. Source: Reuters Categories No, he was given tea (imported from India) and Biscuits (made in China). Pakistan taking US aid to pay Chinese loans. 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. Pakistani Finance Minister Ishaq Dar said he would not approach China any differently than he would other countries as his government seeks to reschedule debt, and he expressed confidence in Pakistan's ability to repay loans despite a struggling economy ravaged by devastating rains and floods. Dar, however, told VOA that he's sure Pakistan can meet its financial obligations. @Dr Asif , Joke of the century. @ABE, I am not sure if you understand the issue. the didnt force you to take money its because every body in pakistan steals, the taxpayer cheat on their taxes and government steals money from the people. The Pakistan Systematic Country Diagnostic: Leveling the Playing Field (SCD) has recently been published. China as per their claim RMB 400 million or $55.8 million. Ltd. (www.compunode.com).Designed for Dawn. "Right now, we are in need of first aid relief like tents, some shelter and some basic food, they can't cook anything. @Multani, US will never give cash to Pakistan because it will go straight to pay off China's debt. 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He said Pakistan has not engaged in physical intervention in the currency, which has been battered this year by a strong U.S. dollar, but which has rallied some 10% since his appointment. He is correct, that both the West and China should offer help. Chinas CPEC could be a boon for Pakistan but it directly competes with US interests. How does the advise sound to Pakistan? Well said blinken. India caused most of Pakistan problems as said. China is basically saying - we only do trade, not friendships. US needs to set example by writing off $450 million they want Pakistan to pay for the F-16s. It is the 23rd-largest worldwide in terms of GDP based on purchasing power parity (PPP). Absolutely correct, where is Iron brother? Dar took office barely three weeks ago, after his predecessor had been forced to resign five months into the job largely because of high energy prices due to the tough reforms Pakistan had promised in order to secure the $1.17 billion loan tranche from the IMF. But the treatment will be based on the principles of just [justice] and equality," he said. @J, virus mask sanitizers hospital furniture airconditioners etc etc. In a competitive geo-economic environment, the US cannot give Pakistan debt relief that benefits China. Indeed it is time for China to step up and help Pakistan at the time of their need. All the funds US given to Pakistan so far been diverted to terror financing. The Pakistani people know it best. It is hard to say who is more pathetic US or our politicians. It is quite logical to ask for debt write off, or deferral. In a weekly briefing today, Wang said that since the floods hit the country, China has rushed to Pakistan's aid as it was a "genuine friend and brother in times of need". Pakistan will pass from this hard times. So, higher than mountain friends looks in real very small. Independent journalism investigating today's national and international issues. Monsoon, flood costs Asked if he has discussed debt rescheduling with China, to which Pakistan owes the biggest chunk of its external debt roughly $30 billion Dar said he was not worried about the size of that debt. Moreover, several political & military figures of Pakistan have already drawn down on these liabilities. They froze my Roshan account. Dar was in Washington to participate in annual meetings of the International Monetary Fund and the World Bank. He said the UN appeal aimed to provide 5.2 million people with food, water, sanitation, emergency education and health support. The first hyphenated politician in Pakistan. Clear cut message from US. that is the only thing that will help us get out of this dent cycle. They should forgive all the interest accumulated and forgive 25% of loan as part of access to Gwader-port. China is conspicuous by it's absence of support. Mutual respect comes if you dont borrow or live off aid. The World Bank is the collective name for the International Bank for Reconstruction and Development (IBRD) and International Development Association (IDA), two of five international China's population may not be aware of the extent of floods in Pakistan. China and pakistan are destined to grow together, the US is not reliable it is a strategic partner of india. What can u do you help us? No Special Debt-Rescheduling Deal with China, Pakistan Finance Minister Says. Why not just to go higher than mountain best friend China? Since USA has put these PDM incompetent politicians to rule Pakistan then USA should take care of flood victims like they are doing for Ukrainian. What about China? Now they have a reason to beg. WHILE urban Sindh, particularly Karachi, suffers from an epidemic of street crime, it is apparent that lawbreakers A YEAR on, a similar outcome only this can get even better. Never before did the country have to confront so many serious challenges in such a divided and fractured state. On 12 August 2015 in the city of Karamay, China and Pakistan signed 20 more @Dr Asif , Pakistan's 'friendship' with China is based on strategic wishes, nothing more. Pakistan must borrow more as many more floods are expecting and they will be waived off debts. Nothing! @Rashid khan, "Even if they write off they will take away Gwadar for 100 years" Pakistanis Love Chinese people, Well done China! At this time, it is China and India which can and capable to provide help. Absolutely Nothing! Secondly, where is it published that Chinese debt is only 10 percent? Where do they stand today ? Infact the high mountain buddy might even write off the loans..surely?? Get the latest update on UAE, business, life style, UAE jobs, gold rate, Exchange rate, UAE holidays, Dubai police, RTA and prayer times from UAEs largest news portal. What do we expect then? When asked for debt relief,China told Pakistan " sorry we don't speak English", Its a fair ask. really, so what was the Iron brother's contribution for the flood relief? Always asking for money. The United Arab Emirates and Turkey have delivered tents and medicines, while the US and Britain have pledged their support. So China must help. A symbolic pathetic individual with no vision and quality of any sort. To make it clear to everyone China is a Pakistan Pakistan is China. Why go to ask for handouts from the conspirator country? It is PAKISTAN that is being embarased!! VideoIn the name of atheism: The case of Mubarak Bala, The Indian-American 'helping' Elon Musk run Twitter, Why an old train could point to a clean energy future. Looks for somewhere else. Its current foreign reserves of $13.25 billion are barely enough to support the import-reliant economy for a few weeks. The world has already warmed by about 1.2C since the industrial era began and temperatures will keep rising unless governments around the world make steep cuts to emissions. Shame on Bilawal Shahbaz Sharif and their compromised handlers. USA in not a true friend of Pakistan. "The Chinese government has provided 400 million RMB worth of humanitarian assistance and Chinas civil society has also lent a helping hand. Millions of houses have been destroyed," Prime Minister Shehbaz Sharif said on Sunday after flying over the area in a helicopter. China has done a lot for Pakistan but now a days Pakistanis are so desperate that they are turning their backs to China, Biggest Hypocritesn Slaves to Israel n No one expects one. Response from China: dont even try. I also urged our colleagues to engage China on some of the important issues of debt relief and restructuring so that Pakistan can more quickly recover from the floods, Blinken said. The country completed only one such program successfully by bringing necessary reforms in 2016, when Dar was the finance minister. U.S. Supreme Court's Barrett again declines to block Biden student debt relief (Reuters) -U.S. Supreme Court Justice Amy Coney Barrett on Friday again declined to block President Joe Biden's plan to cancel billions of dollars in student debt, this time in a challenge brought by two Indiana borrowers, even as a lower court considers whether to lift a freeze it imposed on the program What is china doing? Politicians are not upto snuff for the job and are destroying the nation's image and integrity for their greedy selfish purposes. Now SS may have to even go and grovel before Putin, not just the Chinese. China has invested billions in Pakistan. Read latest breaking news, updates, and headlines. You borrow you pay. @Dr. Siddiqui, Tell that to Bilawal & Zardari ,they have enough money to help on its own. All loans and aid given to Pakistan are/were given with strings attached so much so that no real benefit to people of Pakistan ever. If China writes off debt, will the Paris club follow suit? cpec is not a very good deal for us, @Manika, what trap? This is the main reason for cold shouldering by the international community in response to calls foe aid. Microsoft is quietly building a mobile Xbox store that will rely on Activision and King games. It is upto Pakistan to have both countries to agree to provide help to Pakistan. Today, it's Pakistan. There is an urgent need to set up field hospitals to save lives of children and women in flood waters especially in interior Sindh! I am for market-based, but not subject to a currency being taken hostage" and making speculators billions of dollars. In frist place we don't have to ask for funds at all. But Pakistan refused the help from Bangladesh, so why India and China must send help. 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. F.P. Blinken talked business, while Bilawal was being social . Does anyone think a banker is your real friend? Xi should organize a donor conference for the "sweeter than honey" brother. Now if they provide the debt relief it would be good for the relations. Ltd. (www.compunode.com).Designed for Dawn. 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. Finance ministers from many countries and multilateral lenders gather in the U.S. every year to discuss the state of the global economy. That is tragic. FWO, NLC IPOs should also be considered. Peanuts, considering that we owe $65 billion dollars (termed as investment but in reality loans with interest at twice the market rates) to China, it is China that can write off this loan/investment. Yeah, the US must do more, We can but won't. The US relationship with Pakistan sharply deteriorated over the course of the two-decade war in Afghanistan. Every single U.S.politician is on Israeli Payroll. We can only laugh and cry at what stands out as our brutalisation. An apt comment . The money could have been spent on flood relief. The Constitution treats human dignity as an inviolable right. There is a 100 point IQ difference between the two. @Atul, Why should China do everything for pakistan? @Ravi Dhar, the guy is so lean, so it was appropriate to offer a proper meal. Get up to the minute entertainment news, celebrity interviews, celeb videos, photos, movies, TV, music news and pop culture on ABCNews.com. The economy of Pakistan is a low income developing economy. This is what happens to a country when education comes far behind on the national agenda and the state's priorities are so confused. Blinken also called on Pakistan to pursue a responsible relationship with India. @Az_Iz, US had invested and so did China , both know at the moment it does not throw more money in a bottomless pit. Only country who want to use (Misuse rather) climate change related calamities. US certainly not. A post shared by Churail Sarwat (@sarwatg). This government will accept anything and do anything for America. For India, the FM and his group went to the UN. @Dr Asif , very true. Remember! Will need some sort of intellect translater. Instead of passing unwarranted criticism against China-Pakistan cooperation, the US side might as well do something real and beneficial for the people of Pakistan," the spokesperson added. @Sher Ali Bukhari, Get your facts right. As of 2022, it is the fourth-largest economy in Europe, the world's ninth-largest economy by nominal GDP, and the sixth-largest by PPP.. Russia's vast geography is an important determinant of its economic Additional support from traditional allies such as China, Saudi Arabia, Qatar and United Arab Emirates also helped stave off the crisis. Yeah, China stood by Pakistani people when Mr Blinkin Boss Biden was ordering air strikes on innocent people. Promoting Zionist Agenda. In a video message, Mr Guterres called South Asia a "climate crisis hotspot" where people were 15 times more likely to die from climate impacts. @Dr. Siddiqui, Interior Sindh has been an emergency since decadeswhat has happened? Its half blind and half Pakistani politicians both PTI and PMD are worst corrupt leaders and sitting on huge pile of money. Why? In a competitive geo-economic environment, the US cannot give Pakistan debt relief that benefits China. For both countrieshow about waiving the debt? It's very nice of USA, UK, UNO, IMF, WB, ADB: & various other Foreign Donors to dole out these monies to help MNS / SS, AAZ & Company. @Dr Asif , so go and get Aid from the PRChina. Us is right here. Direct access to our data from your apps using any programing language. I say suspend the constitution, dissolve parliament and impose martial law to sort things out. Pakistan has debt obligations in the next two months, as billions of dollars of promised aid from the Middle East to bolster Pakistans hard-hit finances have yet to arrive. Someone should tell him that be careful while meeting bilawal,he can steal his phone easily. Plus, the USA has no obligations towards Pakistan. He declined to comment when asked whether he thought it would be difficult to persuade China, creditor for about $23 billion of the debt, to participate. Investment does happen mainly by private companies but state policies do effect the overall investment into other countries. Get all the latest India news, ipo, bse, business news, commodity only on Moneycontrol. Recommend 0. Why is Pakistan choosy? Blinken also called on Pakistan to pursue a responsible relationship with India. All this money for the flood victims should be distributed by the US Agencies with full transparency. China enjoys the overall positive narrative of Pakistanis no matter what while US is all the way negative in our politics, media and religious rheoteric. While jaishankar has reached his position with hard work , consistency and on top of merit, Bhutto has reached by cheating and fraud. More than Money, Pakistan has been needing sound and wise advice, and Blinken has just given that! "I am very confident. Dialogue between bilawal and Jaishankar. US Does not understand Chinas friendship with Pakistan. A true friend indeed. It's not only important that you 'build back better' here, he said, using Biden's campaign slogan. Tomorrow, it could be your country.". Not to repay money owed by Pakistan. The United States has committed $56 million in humanitarian aid and sent 17 planes full of supplies, with promises of long-term support. Dar, who served as Pakistan's finance minister three previous times -- most recently from 2013 to 2017 -- is known as a staunch defender of the rupee. Tea was amazing said Bilawal. This must end, in this day age toppling government for American benefits will never be tolerated by masses who can get their information from social media not puppet tv channels most of them atleast. Data are in current U.S. dollars. 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. Firstly, This 10 percent of debt has the highest interest rate and requires most funds to service. Dar said that the IMF had not responded to Pakistan's request to ease the conditions of that loan in the wake of the floods. @Aragon, There is no comparison between S. Jaishankar and this school kid. In international relations, there is no such thing as "brother" or "friend". Awesome suggestion! The warnings by the United States which considers China its pre-eminent global competitor have repeatedly been brushed aside by Pakistan. China sent $50 million in humanitarian assistance. Why we build low quality dams ? Next US will tell Pakistan we should tell China that they should forgive US debt they hold too, some 3 trillion dollars last checked. But just as Pakistan barely managed to meet its financing needs of almost $35 billion for its fiscal year ending in June 2023, unusually heavy monsoon rains in the summer caused billions of dollars in damages, devastated 4 million acres of crops, displaced almost 8 million people and affected nearly 15% of the country's population of 220 million. China blames USA for doing nothing and vice versa. To a question on whether he discussed with IMF officials the possibility of borrowing from the Funds new Resilience and Sustainability Trust for middle-income countries, Dar said, We have discussed all options. Find latest news from every corner of the globe at Reuters.com, your online source for breaking international news coverage. Has the US written off the debt after the Neutrals imposed an imported government? Pakistan needs to stand on its own feet , begging around the world , and sucking up , wont help , stop the corruption, and stand up , and quit smiling unnecessarily, china will take all the benefits and saddle pak with the debt. That is "the statement" from a statesman. The recent United Nations memorandum as reported by Financial Times pertaining to suspension of debt payment to its creditors by the Islamic Republic of Pakistan because of recent heavy monsoon rains and devastating floods caused by global climate change, CO2 gasses, rising temperatures and melting of North and South Pole glaciers is 100 percent right. All the CPEC roads China built have been washed out in the floods. During COVID in the US, no one paid rent or mortgage for 18 months. Dar, who is participating in the IMF and WB annual meetings, said that Pakistan will seek restructuring on equal terms for all bilateral creditors. US doesn't want to be cheated again. "They are under the sky with no help. The installment was part of a roughly $6 billion deal reached with the international lender in 2019 and due to finish in June 2023. They (US) wants to create distance from our 'IRON BROTHER'.
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