PM Imran Khan urges the world community to think of some sort of debt-off for vulnerable countries

[Hermoine Green]

<blockquote class="twitter-tweet"><p lang="en" dir="ltr">Prime Minister <a href="https://twitter.com/ImranKhanPTI?ref_src=twsrc%5Etfw">@ImranKhanPTI</a> expresses his concern over poverty and hunger as a consequence of the Corona Pandemic. Moreover, he urges the world community to think of some sort of debt-off for vulnerable countries.<a href="https://t.co/FG6ZDT5h99">pic.twitter.com/FG6ZDT5h99</a></p>— Prime Minister's Office, Pakistan (@PakPMO) <a href="https://twitter.com/PakPMO/status/1239822476730908675?ref_src=twsrc%5Etfw">March 17, 2020</a></blockquote> <script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>

 

[Local.Dada]

A local leader like Modi only thinks about SAARC or setting up chump change of 10 million usd.

Imran Khan is above that true global leader. He is asking for a fund from the western countries this time of course that helps everyone.

Selfless leader

 

[Syed1]

A local leader like Modi only thinks about SAARC or setting up chump change of 10 million usd.

Imran Khan is above that true global leader. He is asking for a fund from the western countries this time of course that helps everyone.

Selfless leader

India is a first world country bhai.... zero poverty, streets lined with gold and European and North American people travelling there for a better chance at life.


We in Pakistan are a poor country, can't even hold a candle to first world India. Even China is sending their economic managers to India to figure out how to be developed like India.


Modi hai tu mumkin hai.

 

[Local.Dada]

India is a first world country bhai.... zero poverty, streets lined with gold and European and North American people travelling there for a better chance at life.


We in Pakistan are a poor country, can't even hold a candle to first world India. Even China is sending their economic managers to India to figure out how to be developed like India.


Modi hai tu mumkin hai.

Let me tell you a true story. India in 1991 was on the verge of bankruptcy. Within 2 years India’s economy was on the up. They did that how? With great economic policies and foreign policies.

Now let’s get toilets, poor people, rapes etc out of the way because I am sure there will be a post full of that in response which doesn’t lead to anywhere.

Anyways India didn’t ask handouts or rent mercenaries, they figured it out thanks to scholars and people who knew what they were doing. The Pm of india then was not a handsome man , in fact he was old and not very let’s say screen friendly but he more than made up for that being a genius, scholar and a great administrator.

Now talking about crisis within a year of this bankruptcy scare, india also had one of the worst communal riots- Babri Masjid demolition and a terrorist attack- Mumbai blasts.

India has its issues today but guess what it is not even close to bankruptcy. It is more than self sufficient.

So pretty sure Indian governments in the past or currently usually put egos aside and work for their benefit. Even in the SAARC call India needs cooperation and so do the other world leaders, so not sure how ego will help or neither does this statement.

So basically yes india May not be China or USA it is definitely a good model in the last 30 years or so of how a country comes out of a major crisis that puts its very financial stability under doubt.

Now why am I giving this gyaan because this is the best opportunity for counties to put together petty differences and work together for the benefit of humanity, not look at ways to get out of debt.

 

[JaDed]

This is the most worried I have ever see him in an interview, does he know something additional?

 

[sjahmed23]

A local leader like Modi only thinks about SAARC or setting up chump change of 10 million usd.

Imran Khan is above that true global leader. He is asking for a fund from the western countries this time of course that helps everyone.

Selfless leader

Modi acted like a true gujju, offering up $10million thinking he is doing humanity a huge favor.

 

[AamchiMumbaikar]

Even under current scenario people are point scoring...

 

[Sirris]

I don't know what he had in mind but I can see a point here. To fight this pandemic the richest and advanced countries are having to pull out all their resources. They are forced to use up majority of their financial reserves. Countries where there is already a complete lockdown and people who can not work still need their wages paid and small to mid size business depend on governments financial aid to prevent bankruptcy. This can only happen if the government has enough money in its pockets and once the capacity is reached they have to borrow the money.

Now poor countries who already have limited resources and are already in debt would at some point be forced to ask for more credit leading to higher debts. Since they don't want to accumulate more debt it could lead to a slow response further worsening the crisis.

The complete economic situation of the world can only be analyzed after the pandemic but to fight the crisis countries have to make economic decisions right now too.

It's not about the current debts but possible new debts countries maybe forced to acquire as a direct cause of this pandemic. Making test kits costs money, mobilizing the health worker all across the country to perform these test costs money, isolating people costs money, putting restrictions on workplaces costs money all these things need to be factored in.

In rich centuries the cost for tests can be covered by health insurance but do poor countries have such an institute?

 

[Mesozoic]

Well on a serious note , the think Imran has raised a valid concern here. Economies all over the world have been/are going to be affected severely by this pandemic. Developed countries may get through it, but poor third world countries will likely go bankrupt if the situation gets worse.

China should be held responsible for this and be sanctioned left and right. They have single handedly messed up the whole world with their dietary habits.

 

[Test lover]

After coronavirus some of airlines will become bankrupt

 

[Local.Dada]

Well on a serious note , the think Imran has raised a valid concern here. Economies all over the world have been/are going to be affected severely by this pandemic. Developed countries may get through it, but poor third world countries will likely go bankrupt if the situation gets worse.

China should be held responsible for this and be sanctioned left and right. They have single handedly messed up the whole world with their dietary habits.

Problem is what does this tweet accomplish whatever his intentions might be.

Does it raise his stature when there are already memes of him asking for handouts?

Suddenly are western or other rich countries opening up their coffers or thinking charity when they themselves are getting their butt kicked ?

Was there a process, template or a plan that he came up with?

This does nothing for anyone so either he needs to fire his advisors or use better judgement.

He needs to work in the neighborhood first before thinking of world debt. Now if this pandemic is affecting Pakistan to a point of bankruptcy then it’s a different thing .

 

[kk1992]

Problem is what does this tweet accomplish whatever his intentions might be.

Does it raise his stature when there are already memes of him asking for handouts?

Suddenly are western or other rich countries opening up their coffers or thinking charity when they themselves are getting their butt kicked ?

Was there a process, template or a plan that he came up with?

This does nothing for anyone so either he needs to fire his advisors or use better judgement.

He needs to work in the neighborhood first before thinking of world debt. Now if this pandemic is affecting Pakistan to a point of bankruptcy then it’s a different thing .

Do you think before you type up random incoherent words?

It is a serious question.

Stop looking everything through saffron tinted goggles.

 

[Savak]

He is living in cuckoo land if he expects the west to waive off debts given to third world countries. Not going to happen

 

[BreadPakoda]

He is living in cuckoo land if he expects the west to waive off debts given to third world countries. Not going to happen

What about China? They can waive off debt given to Pakistan.

 

[cricketjoshila]

Modi acted like a true gujju, offering up $10million thinking he is doing humanity a huge favor.

How many lives can 10million save?

How many did Pakistan offer?

 

[Itachi]

Idealistic and practical are two different factors. Otherwise communism should have been the success story across all over the world.

"I urge everyone to be nice, humble and be truthful." that's my wish. However, the world doesn't revolve around what is my wish.

Its better to plan a less idealistic but more effective plans than planning something which is idealistic but may not be practical at all.

IK seems to be out of touch with reality.

 

[kk1992]

He is living in cuckoo land if he expects the west to waive off debts given to third world countries. Not going to happen

He isn't talking about waiving off debts.

Talking about sanctions and servicing the debt for time being.

It is a global crisis.

 

[kk1992]

Idealistic and practical are two different factors. Otherwise communism should have been the success story across all over the world.

"I urge everyone to be nice, humble and be truthful." that's my wish. However, the world doesn't revolve around what is my wish.

Its better to plan a less idealistic but more effective plans than planning something which is idealistic but may not be practical at all.

IK seems to be out of touch with reality.

Idealist are the one who found initial vaccine.

 

[JaDed]

Idealist are the one who found initial vaccine.

Who? China? Are you saying they are a communist country?

 

[Local.Dada]

He isn't talking about waiving off debts.

Talking about sanctions and servicing the debt for time being.

It is a global crisis.

First thing he should think of is people dying and lack of medical resources not his debt.

If god forbid my family member is sick I am not going to make a big deal or panic about my credit card bill.

This isn’t some great initiative, aren’t there other countries in financial crisis too, are they right now thinking that?

 

[Itachi]

Idealist are the one who found initial vaccine.

Whom we are talking about here?

 

[kk1992]

Who? China? Are you saying they are a communist country?

Approach to solve current crisis.

I could care less where you are from or what you do.

Approach has to be idealist and practical

Less fortunate countries and countries with unjust sanctions can't coup with it, that is all he has said, it isn't HIV virus, it is different, mode of contraction and spread is different.

Money need to be freed up for everyone to fight it collectively. Simple and basic concept.

 

[kk1992]

First thing he should think of is people dying and lack of medical resources not his debt.

If god forbid my family member is sick I am not going to make a big deal or panic about my credit card bill.

This isn’t some great initiative, aren’t there other countries in financial crisis too, are they right now thinking that?

I am sorry, but you are wasting time.

It is either intentional or your inability to understand it.

 

[JaDed]

Approach to solve current crisis.

I could care less where you are from or what you do.

Approach has to be idealist and practical

Less fortunate countries and countries with unjust sanctions can't coup with it, that is all he has said, it isn't HIV virus, it is different, mode of contraction and spread is different.

Money need to be freed up for everyone to fight it collectively. Simple and basic concept.

Yes but not an idealistic society or people.. , practical yess.

 

[kk1992]

Yes but not an idealistic society or people.. , practical yess.

Asking or suggesting to free up money to fight this global crisis is not idealist, it is practical.

 

[Itachi]

Money need to be freed up for everyone to fight it collectively. Simple and basic concept.

waiving off debt doesn't solve the current crisis. It just a facade to bring pakistan from pile of debt.

Otherwise, a practical solution will be to ask the rich countries to join together and device a vaccine which will be cheaply available for others such as third world countries.

 

[Local.Dada]

Asking or suggesting to free up money to fight this global crisis is not idealist, it is practical.

That would make sense if Trump or the Chinese President said that.

A person in debt can take a lot of moral high ground and give lot of gyaan about the evils of banks, interest rates or how money needs to be distributed etc no one is going to take them seriously even if he means well.

 

[JaDed]

Asking or suggesting to free up money to fight this global crisis is not idealist, it is practical.

I’m talking about people who are working on vaccines .

On asking to write the debt off, it’s idealistic, practical at best would be to ask 0% loans and medical help as much as they could, preferably from China who Pakistan has good relations with.

 

[kk1992]

That would make sense if Trump or the Chinese President said that.

A person in debt can take a lot of moral high ground and give lot of gyaan about the evils of banks, interest rates or how money needs to be distributed etc no one is going to take them seriously even if he means well.

Go away, you are wasting time and not making any sense.

Score point some where else and with some one else.

 

[BreadPakoda]

Anil Ambani should take a hint. Just saying.

 

[kk1992]

I’m talking about people who are working on vaccines .

On asking to write the debt off, it’s idealistic, practical at best would be to ask 0% loans and medical help as much as they could, preferably from China who Pakistan has good relations with.

To pay back the debt, you need running economy, for that people need to be out on the street running business.

Getting 0% loan is another option but servicing debt and under sanction isn't helping any country.

 

[kk1992]

That would make sense if Trump or the Chinese President said that.

A person in debt can take a lot of moral high ground and give lot of gyaan about the evils of banks, interest rates or how money needs to be distributed etc no one is going to take them seriously even if he means well.

Another thing, you talk like an aunty sitting outside of her home keeping an eye on who is living their home and what and who are they returning with so she can talk about it with the rest of her group.

 

[kk1992]

I’m talking about people who are working on vaccines .

On asking to write the debt off, it’s idealistic, practical at best would be to ask 0% loans and medical help as much as they could, preferably from China who Pakistan has good relations with.

On vaccine, at this point, does it matter who makes it first? Communist, dictator, democracy, theocracy ?

 

[shah_1]

China should write off the loan. It is all because of them
https://m.youtube.com/watch?v=NbbRfyEk_TQ


Professor warned us about this(2018 video-- watch it from 2.57). Great prediction

 

[kaayal]

Agree with Imran Khan here. He is rightly worried about the sub continent people and Iran and the impact that virus is going to do on our economy.

 

[Local.Dada]

Another thing, you talk like an aunty sitting outside of her home keeping an eye on who is living their home and what and who are they returning with so she can talk about it with the rest of her group.

Great to see the stereotype of home makers now since we got that away, what would you like to discuss? Because I myself haven’t seen any profound thoughts that you have come up with here.

You are talking about some rhetoric about the economy when there are lives at stake. Right now the economy depends on solving the health crisis not the other way around.

Now how does freeing up debt help the western countries who themselves are suffering economically due to this pandemic?

It’s different had this handout request been about medical facilities etc instead of getting his loan waived out.

Governments seem to have different priorities right now.

Also this request seem as empty as what you have been posting. Does he have a template of economies will survive or other alternatives if they waive off debt? Had he come up with a genius template to tackle this financially while the world is focusing on it from a medical crisis perspective, I would be the first person to call him a genius.

Right now it looks like taking advantage of the crisis for his own benefit like a handout.

 

[JaDed]

China should write off the loan. It is all because of them
https://m.youtube.com/watch?v=NbbRfyEk_TQ


Professor warned us about this(2018 video-- watch it from 2.57). Great prediction

Crazy! More than prediction he genuinely sounded concerned for the people when he was saying that.

 

[Local.Dada]

Agree with Imran Khan here. He is rightly worried about the sub continent people and Iran and the impact that virus is going to do on our economy.

It’s messing up everyone’s economy so how does writing off debt help those countries?

First focus should be to fight the pandemic and take it from there.

If economy is a concern then there should be back up plans etc happening in parallel. Just asking for a debt off seems like a blanket statement trying to take advantage of the crisis.

 

[Syed1]

It’s messing up everyone’s economy so how does writing off debt help those countries?

First focus should be to fight the pandemic and take it from there.

If economy is a concern then there should be back up plans etc happening in parallel. Just asking for a debt off seems like a blanket statement trying to take advantage of the crisis.

Maybe your english skills are limited or didn't even watch the video before starting your bhakhti chest thumping.

I will recommend you watch the video again two three times to get the gist of what is being said.

 

[Cpt. Rishwat]

A local leader like Modi only thinks about SAARC or setting up chump change of 10 million usd.

Imran Khan is above that true global leader. He is asking for a fund from the western countries this time of course that helps everyone.

Selfless leader

India should offer a debt free loan. Or failing that, even some assistance on superior terms to the west. Or China/Saudi Arabia for that matter.

 

[Local.Dada]

Maybe your english skills are limited or didn't even watch the video before starting your bhakhti chest thumping.

I will recommend you watch the video again two three times to get the gist of what is being said.

He was on track till about :48 seconds before it became a personal request

 

[kk1992]

Great to see the stereotype of home makers now since we got that away, what would you like to discuss? Because I myself haven’t seen any profound thoughts that you have come up with here.

You are talking about some rhetoric about the economy when there are lives at stake. Right now the economy depends on solving the health crisis not the other way around.

Now how does freeing up debt help the western countries who themselves are suffering economically due to this pandemic?

It’s different had this handout request been about medical facilities etc instead of getting his loan waived out.

Governments seem to have different priorities right now.

Also this request seem as empty as what you have been posting. Does he have a template of economies will survive or other alternatives if they waive off debt? Had he come up with a genius template to tackle this financially while the world is focusing on it from a medical crisis perspective, I would be the first person to call him a genius.

Right now it looks like taking advantage of the crisis for his own benefit like a handout.

Seriously, what are you talking about?

The only point I can extract from you wasting words and bandwidth is that you are showing the characteristic of unhealthy version of jignostic.

It has to do with your limitation of seeing everything through saffron tinted goggles.

India has not provided any loan to Pakistan nor Pakistan has to service debt to India.

Get off of your high horse and watch netflix.

 

[BoredFromLifeXi]

He is sounding worried or he knew already What we were yet to told. Sounds like he know epidemic is going to be explode in Pakistan.

 

[Hermoine Green]

Even under current scenario people are point scoring...

Jaahils are everywhere bro.

For them, some brownie points > people lives.

 

[Hermoine Green]

This is the most worried I have ever see him in an interview, does he know something additional?

Yes, i.e if this virus spread on a massive scale like it happened in China or Italy, we will be doomed. We dont have that much resources and that's a fact. So he is worried about it, just before months our economy was getting better, our exports were on the rise, we were returning our debts but now this virus is killing us from every where.

He feels for his nation and that was he is very genuinely worried.

 

[Napa]

Let me tell you a true story. India in 1991 was on the verge of bankruptcy. Within 2 years India’s economy was on the up. They did that how? With great economic policies and foreign policies.

Now let’s get toilets, poor people, rapes etc out of the way because I am sure there will be a post full of that in response which doesn’t lead to anywhere.

Anyways India didn’t ask handouts or rent mercenaries, they figured it out thanks to scholars and people who knew what they were doing. The Pm of india then was not a handsome man , in fact he was old and not very let’s say screen friendly but he more than made up for that being a genius, scholar and a great administrator.

Now talking about crisis within a year of this bankruptcy scare, india also had one of the worst communal riots- Babri Masjid demolition and a terrorist attack- Mumbai blasts.

India has its issues today but guess what it is not even close to bankruptcy. It is more than self sufficient.

So pretty sure Indian governments in the past or currently usually put egos aside and work for their benefit. Even in the SAARC call India needs cooperation and so do the other world leaders, so not sure how ego will help or neither does this statement.

So basically yes india May not be China or USA it is definitely a good model in the last 30 years or so of how a country comes out of a major crisis that puts its very financial stability under doubt.

Now why am I giving this gyaan because this is the best opportunity for counties to put together petty differences and work together for the benefit of humanity, not look at ways to get out of debt.

Good post. India owes a lot to Narsimha Rao.

 

[Yossarian]

You are talking about some rhetoric about the economy when there are lives at stake. Right now the economy depends on solving the health crisis not the other way around.

You need a functioning economy in order to have the resources required for solving the health crisis:

* You need money to buy ventilators, drugs, and all the other things needed to provide health care - right down to buying the face masks and gloves that doctors and nurses need.

* You need a functioning economy to generate the money/resources.

* Governments need foreign exchange to import everything it can't produce within the country itself. Including buying the machinery needed to make the ventilators, drugs, and everything else.

* Without a functioning economy, there is complete chaos. No government, no banks, no law & order, and no health service.

Go and educate yourself, so that you can understand why a functioning economy is the bedrock of everything.

 

[RajBan]

Imran does have a point. Given that the Chinese wild life food market has been a source of such notoriety time and again and given that they have not been able to really curb their habits which has led to this calamity they should create a credit line for all the impacted developing countries that need help like Pakistan, Iran and other ME and African countries . Pakistan does owe more than 10bn dollars to different Chinese institutions as part of CPEC credit , if that can be written off or a moratorium can be given for next 40 years that might help. Given Pakistan and China also have a strong connect this may not be that difficult for Imran to accomplish. Imran should start back channel conversations with China for either the write-off or moratorium atleast to set that precedence for other countries. Given Chinese financial strength , this move is also not going to cripple them unlike UK and other European countries who are at the verge of collapse .

 

[Abdullah719]

IMF, World Bank call for suspension of debt payments by poorest nations

WASHINGTON: The International Monetary Fund and World Bank on Wednesday called for governments to put a hold on debt payments from the world's poorest nations so they can battle the coronavirus pandemic.

“The World Bank Group and the IMF believe it is imperative at this moment to provide a global sense of relief for developing countries as well as a strong signal to financial markets," the Washington-based development lenders said in a joint statement.

The move is directed at countries that qualify for the most generous aid from the “IDA" fund aimed at the “two-thirds of the world's population living in extreme poverty."

https://www.brecorder.com/2020/03/2...spension-of-debt-payments-by-poorest-nations/

 

[Syed1]

IMF, World Bank call for suspension of debt payments by poorest nations

WASHINGTON: The International Monetary Fund and World Bank on Wednesday called for governments to put a hold on debt payments from the world's poorest nations so they can battle the coronavirus pandemic.

“The World Bank Group and the IMF believe it is imperative at this moment to provide a global sense of relief for developing countries as well as a strong signal to financial markets," the Washington-based development lenders said in a joint statement.

The move is directed at countries that qualify for the most generous aid from the “IDA" fund aimed at the “two-thirds of the world's population living in extreme poverty."

https://www.brecorder.com/2020/03/2...spension-of-debt-payments-by-poorest-nations/

But when IK said it then he is bikhari and beggar? [MENTION=57576]MRSN[/MENTION] [MENTION=130419]shah_1[/MENTION]

 

[Local.Dada]

Is Pakistan among those poorest countries?

I hope india is in the list too of having its debt waived off because of all those toilet issues and slums which are only associated with India. By that account atleast hopefully.

 

[Abdullah719]

<blockquote class="twitter-tweet" data-lang="en"><p lang="en" dir="ltr">We welcome joint statement of WB & IMF calling upon G20 countries to suspend debt payments of dev countries. <br>PM Imran Khan has been urging this since COVID-19 pandemic.<br>We hope it shall be accepted & we also urge multi-laterals for relief on their debts <a href="https://t.co/NJJuZ6Thcy">https://t.co/NJJuZ6Thcy</a></p>— Hammad Azhar (@Hammad_Azhar) <a href="https://twitter.com/Hammad_Azhar/status/1242853184340713480?ref_src=twsrc%5Etfw">March 25, 2020</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>

 

[Abdullah719]

 

[shah_1]

But when IK said it then he is bikhari and beggar? [MENTION=57576]MRSN[/MENTION] [MENTION=130419]shah_1[/MENTION]

Where did I say he is a beggar?

 

[JaDed]

Is Pakistan among those poorest countries?

I hope india is in the list too of having its debt waived off because of all those toilet issues and slums which are only associated with India. By that account atleast hopefully.

We are not included as per below list, also its not being waived off, but hold on.

 

[JaDed]

What is the basis of this report how is India not part of it? It has Maldives and Bhutan??

 

[BoredFromLifeXi]

Pakistan is part of poorest nation but not India. Why?

 

[Napa]

What is the basis of this report how is India not part of it? It has Maldives and Bhutan??

India's forex reserves are now close to $500 billion, they are not going to be getting any aid from anyone anytime soon.

https://tradingeconomics.com/india/foreign-exchange-reserves

Given its reserves, Modi should have offered $1 billion for combatting the pandemic in the SAARC countries instead of just $10 million.

 

[Napa]

India's forex reserves are now close to $500 billion, they are not going to be getting any aid from anyone anytime soon.

https://tradingeconomics.com/india/foreign-exchange-reserves

Given its reserves, Modi should have offered $1 billion for combatting the pandemic in the SAARC countries instead of just $10 million.

Also the oil price crash puts India in a very good position going forward. Long term outlook for oil prices is that they will remain low. Saudis tried to form a cartel with Russia and that is unraveling. Also demand will fall as the global economies enter a recession.

 

[cricketjoshila]

Pakistan is part of poorest nation but not India. Why?

Imf has requested the G20 countries to waive off debt.

India is a G20 country.

 

[JaDed]

Imf has requested the G20 countries to waive off debt.

India is a G20 country.

Hold off? Where do you see wavied off?

 

[Abdullah719]

What is the basis of this report how is India not part of it? It has Maldives and Bhutan??

http://ida.worldbank.org/about/borrowing-countries

Eligibility for IDA support depends first and foremost on a country’s relative poverty, defined as GNI per capita below an established threshold and updated annually ($1,175 in fiscal year 2020).

IDA also supports some countries, including several small island economies, that are above the operational cutoff but lack the creditworthiness needed to borrow from the International Bank for Reconstruction and Development (IBRD). Some countries, such as Nigeria and Pakistan, are IDA-eligible based on per capita income levels and are also creditworthy for some IBRD borrowing. They are referred to as “blend” countries.

 

[Abdullah719]

<blockquote class="twitter-tweet" data-lang="en"><p lang="en" dir="ltr">Statement from IMF Managing Director on Pakistan's request for Rapid Financial Instrument<a href="https://t.co/qPatnLPlW0">https://t.co/qPatnLPlW0</a></p>— IMF Pakistan (@imf_pakistan) <a href="https://twitter.com/imf_pakistan/status/1243517927829245952?ref_src=twsrc%5Etfw">March 27, 2020</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>

Statement by IMF Managing Director Kristalina Georgieva on Pakistan

March 26, 2020

Washington, DC – Ms. Kristalina Georgieva, Managing Director of the International Monetary Fund (IMF) issued the following statement:

“The authorities have continued their reform efforts to address Pakistan’s economic challenges, but progress is being threatened by the devastating effects of the COVID-19 outbreak and the deterioration in global economic and financial conditions. Prime Minister Khan and his government have swiftly approved an economic stimulus package aimed at containing the spread of the virus and providing support to affected families and businesses. Similarly, the State Bank of Pakistan has adopted a timely set of measures, including a lowering of the policy rate, new refinancing facilities to support the flow of credit, and temporary regulatory relief measures.

“To support these efforts and ensure prompt and adequate relief to the people and the economy, the Government of Pakistan has requested financial assistance under the Fund’s Rapid Financing Instrument (RFI). This emergency financing will allow the government to address additional and urgent balance of payments needs and support policies that would make it possible to direct funds swiftly to Pakistan’s most affected sectors, including social protection, daily wage earners, and the healthcare system. Our team is working expeditiously to respond to this request so that a proposal can be considered by the IMF’s Executive Board as soon as possible.

“In parallel, the authorities have reaffirmed their commitment to the reform policies included in the current arrangement under the Extended Fund Facility (EFF). These reforms are crucial to boost Pakistan’s growth potential to deliver broad based benefits for all Pakistanis, especially the most vulnerable segments of the population.

“The Fund stands ready to continue to support the authorities’ efforts to implement much-needed economic and structural reforms aimed at fostering strong and sustainable growth.”

https://www.imf.org/en/News/Article...ing-director-kristalina-georgieva-on-pakistan

 

[Lonewarrior]

More countries follow Imran Khan’s lead in calling for debt relief

https://www.trtworld.com/magazine/more-countries-follow-imran-khan-s-lead-in-calling-for-debt-relief-34889

 

[sweep_shot]

Since Coronavirus is global, it makes sense to forgive some of the debts. It can be a great gesture.

Greed shouldn't trump humanity.

 

[Abdullah719]

<blockquote class="twitter-tweet" data-lang="en"><p lang="en" dir="ltr">Had a good conversation with <a href="https://twitter.com/hashtag/Pakistan?src=hash&ref_src=twsrc%5Etfw">#Pakistan</a> PM <a href="https://twitter.com/ImranKhanPTI?ref_src=twsrc%5Etfw">@ImranKhanPTI</a> on measures to mitigate the impact of the <a href="https://twitter.com/hashtag/COVID?src=hash&ref_src=twsrc%5Etfw">#COVID</a>-19. The IMF provides financial support during this difficult time and remains closely engaged on the design of policies. <a href="https://t.co/vfgapeKw4C">https://t.co/vfgapeKw4C</a> <a href="https://twitter.com/hashtag/coronavirus?src=hash&ref_src=twsrc%5Etfw">#coronavirus</a></p>— Kristalina Georgieva (@KGeorgieva) <a href="https://twitter.com/KGeorgieva/status/1243951818448801792?ref_src=twsrc%5Etfw">March 28, 2020</a></blockquote>
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[MenInG]

$200m pandemic response pact signed with WB

Pakistan and the World Bank have signed a $200 million ‘Pandemic Response Effective Project’that will help the poor and vulnerable cope with the immediate impact of the Covid-19 pandemic through social protection measures, food rations and remote learning education.

The board of executive directors of World Bank earlier approved the $200 million package to help Pakistan take effective and timely action to respond to the coronavirus pandemic by strengthening the country’s national healthcare systems and mitigating socio-economic disruptions.

 

[MenInG]

Virus-hit Iran urges IMF to approve $5bn loan

Iranian President Hassan Rouhani urged the International Monetary Fund on Wednesday to give the sanctions-hit country a $5 billion emergency loan to combat its novel coronavirus outbreak, AFP reports.

The Islamic republic is battling one of the world's deadliest coronavirus outbreaks which it says has killed close to 4,000 people and infected more than 64,500.

Iran has said it needs what would be its first IMF loan in over half a century to continue fighting the virus. But its arch enemy the United States, which effectively holds a veto at the IMF, is reportedly set to block the loan, arguing Iran will use the funds for military purposes.

 

[Abdullah719]

<iframe width="560" height="315" src="https://www.youtube.com/embed/oT1Ad9oQP0Q" frameborder="0" allow="accelerometer; autoplay; encrypted-media; gyroscope; picture-in-picture" allowfullscreen></iframe>

"In the developing world, apart from containing the virus and dealing with the economic crisis, our biggest worry is people dying of hunger. The dilemma on one side, stopping people dying from the virus and on the other hand, preventing deaths from hunger as a result of the lockdown.

"The other problem we face in the developing world is the discrepancy in the resources available to us in the developing world and the resources available to the developed world.

"While the US can come up with a relief package of $2.2T and Germany can come up with a package of EUR 1T, and Japan $1T, to give the example of Pakistan, where we have a population of 220 million people, the maximum stimulus we could afford is $8bn

"This is the issue with most of the developing world, especially the countries suffering with a high debt to GDP ratio. These highly indebted countries face the problem of a lack of fiscal space. We don't have the money to spend on the overstretched health services and also stop people dying of hunger.

"I will be appealing to world leaders, the heads of financial institutions, and the secretary general of the UN to launch an initiative that will give debt relief to developing countries to combat the coronavirus."

 

[Abdullah719]

<blockquote class="twitter-tweet" data-lang="en"><p lang="en" dir="ltr">Pope Francis called for global solidarity in fighting the coronavirus pandemic and its economic fallout, urging the relaxation of international sanctions, debt relief for poor nations and ceasefires in all conflicts <a href="https://t.co/RxVR2GOfSb">https://t.co/RxVR2GOfSb</a> <a href="https://t.co/uBtjgGcTH5">pic.twitter.com/uBtjgGcTH5</a></p>— Reuters (@Reuters) <a href="https://twitter.com/Reuters/status/1249340243184177153?ref_src=twsrc%5Etfw">April 12, 2020</a></blockquote>
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[Abdullah719]

<blockquote class="twitter-tweet" data-lang="en"><p lang="en" dir="ltr">PM <a href="https://twitter.com/ImranKhanPTI?ref_src=twsrc%5Etfw">@ImranKhanPTI</a>, in light of these vulnerabilities for the developing world is initiating a diplomatic outreach with a special request to the UNSG <a href="https://twitter.com/antonioguterres?ref_src=twsrc%5Etfw">@antonioguterres</a> to work with Pakistan to launch a <a href="https://twitter.com/hashtag/Global_Initiative_Debt_Relief?src=hash&ref_src=twsrc%5Etfw">#Global_Initiative_Debt_Relief</a> to lessen impact of this health & economic crisis</p>— Prime Minister's Office, Pakistan (@PakPMO) <a href="https://twitter.com/PakPMO/status/1249359744730611714?ref_src=twsrc%5Etfw">April 12, 2020</a></blockquote>
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[Kianig89]

Khaya ha to dena bhi pare ga

As a respectable nation he may ask for rescheduling but not outright write-off

 

[gani999]

or at the very minimum, a repayment without interest.

Often , more than the debt itself, it is the interest that cripples the debtee.

 

[Local.Dada]

Why is he clubbing all developing countries ego in the way? speak for yourself.

 

[MenInG]

China could temporarily freeze debt repayments by African nations to free up cash for those countries to tackle the coronavirus outbreaks, reports the Reuters news agency.

China is a major creditor to African economies, having lent them billions of dollars over the last two decades.

"The origin of Africa's debt problem is complex, and the debt profile of each country varies," China's foreign ministry told Reuters.

"We are aware that some countries and international organisations have called for debt relief programmes for African countries, and we are willing to study the possibility of it jointly with the international community."

China is a member of the G20 group of economies, which meets this week. The group is expected to make an agreement on debt relief for the world’s poorest nations.

The International Monetary Fund (IMF) and World Bank are also pushing for debt relief to help poor countries during the virus.

 

[globalcitizen]

As per reports, Pakistan is not in initial list of 25 countries which are getting debt relief.

But Pakistan May be granted a 1.4 billion dollar loan to fight the pandemic. Another loan is going to put even in more debt, but probably need of the hour

 

[The Viper]

G20 delays poor nations' debt payments

Nations belonging to the G20 group of leading economies agreed to suspend debt payments owed to them by 77 of the world's poorest countries.

The agreement covers money that is due to be paid to G20 governments up to the end of 2020.

The aim is to help countries deal with the health and economic impacts of the coronavirus pandemic.

The Jubilee Debt Campaign group, a UK-based charity, estimated that the delay will cover $12bn (£9.6bn) of payments.

The group understands that the payments will instead have to be made between 2022 and 2024, along with interest accrued in the meantime.

 

[Itachi]

G20 delays poor nations' debt payments

Nations belonging to the G20 group of leading economies agreed to suspend debt payments owed to them by 77 of the world's poorest countries.

The agreement covers money that is due to be paid to G20 governments up to the end of 2020.

The aim is to help countries deal with the health and economic impacts of the coronavirus pandemic.

The Jubilee Debt Campaign group, a UK-based charity, estimated that the delay will cover $12bn (£9.6bn) of payments.

The group understands that the payments will instead have to be made between 2022 and 2024, along with interest accrued in the meantime.

So.... Its a moratorium.

 

[Syed1]

Why is he clubbing all developing countries ego in the way? speak for yourself.

Yes sir India is a rich country and a supa powa. Streets are lined with gold and people are dying of over-eating.


This must be fake news:

<blockquote class="twitter-tweet"><p lang="en" dir="ltr">Hundreds of migrant workers and daily wage earners have taken shelter under a bridge on the banks of the Yamuna. For over a week they are living on one meal a day provided by a Gurudwara nearby. <br><br>Pictures: <a href="https://twitter.com/arvindgunasekar?ref_src=twsrc%5Etfw">@arvindgunasekar</a> <a href="https://t.co/mdTnAAInm8">pic.twitter.com/mdTnAAInm8</a></p>— NDTV (@ndtv) <a href="https://twitter.com/ndtv/status/1250342438599659520?ref_src=twsrc%5Etfw">April 15, 2020</a></blockquote> <script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>

 

[Abdullah719]

Chinese media hails PM Imran’s call for debt relief

Prime Minister Imran Khan’s appeal for a debt relief initiative for highly indebted developing nations served as a rallying call for the world to unite in pursuit of mitigating negative impact of the Covid-19 crisis, China Global Television Network (CGTN) reported on Wednesday.

In a video message posted on Twitter over the weekend Imran appealed to the international community to launch a debt relief initiative in order to help the developing countries prevent negative impact on their people as a subsequent humanitarian consequence of the pandemic.

The Chinese media noted that there was a precarious situation in the South Asian region, not just in Pakistan, but also in India and Bangladesh as well and in other developing countries elsewhere in the world.
These people obviously need food, but regrettably aren’t able to afford. Their governments, struggling with heavy debt, might find it difficult to assist everyone on the scale that’s required. “Therein lies the significance of PM Imran Khan’s appeal to the international community,” added the report.

Pakistan Ambassador to China, Naghmana Hashmi, said in an interview with China.org.cn on Wednesday the international financial institutions, with coordination of developed countries, needed to offer emergency grant and soft-loans to shield the developing country from the ensuing economic crisis.

“The current situation [virus-induced shut down of economic activities], therefore, calls for a greater international coordination and cooperation among the global community for curbing and comprehensively eliminating this menace,” Ambassador Hashmi said.

“Perhaps, this crisis, colossal as it may be, reaffirms our resolve in multilateralism and bestow world leaders with clarity and courage to shun isolationism for good, and renew faith in joint efforts for a shared and prosperous future for all,” she added.

“This crisis should be a moment of reflection for us to revisit and review our previous concepts about issues of transnational health, environment, and economics and reform them in the light of emergent realities for benefit of the entire humanity.”

Hashmi said that China’s success against the virus served as a source of inspiration and hope for all countries battling Covid-19. “China has emerged as the only country in the world to have curbed this disease in an effective manner,” she said.

https://tribune.com.pk/story/2198783/1-chinese-media-hails-pm-imrans-call-debt-relief/