Posted on 06/24/2019 9:38:16 PM PDT by Cronos
Islamabad/Doha: Cash-strapped Pakistan on Monday secured a bailout package of $3 billion
The Gulf state is the fourth nation that has come forward to rescue Pakistan from default during past 11 months as the government of Prime Minister Imran Khan tries to overcome a ballooning balance-of-payments crisis.
Earlier, China gave $4.6 billion in shape of deposits and commercial loans and Saudi Arabia provided $3 billion cash deposit and $3.2 billion oil facility on deferred payments. The United Arab Emirates also provided $2 billion cash deposit.
"The Qatari-Pakistani economic partnership will amount to $9 billion. Qatar affirms its aspiration for further development in the relations between the two countries at all political, economic, sports and cultural levels," he said.
Advisor to Pakistan Prime Minister on Finance Dr Abdul Hafeez Shaikh confirmed the Qatari financial help through his Twitter handle.
"I want to thank the Emir of Qatar HRH Sheikh Tamim Bin Hamad Al Thani for announcing $3 billion in deposits and direct investments for Pakistan and for Qatar's affirmation to further develop relations between the two countries", Shaikh tweeted.
On Sunday, Pakistan conferred the visiting Qatari Emir with the 'Nishan-e-Pakistan', the country's highest civil honour.
Apart from stepping up cooperation in trade and economy, Pakistan and Qatar signed a memorandum of understanding on cooperation in the field of exchange of financial intelligence related to money laundering and curbing terrorism financing.
Pakistan's finance ministry did not immediately provide the break-up of the $3 billion Qatar aid. It was not clear how much of the amount was in shape of deposit that will land in the State Bank of Pakistan to provide temporary cushion to the dwindling reserves, The Express Tribune reported.
Pakistan last month reached a preliminary agreement with the International Monetary Fund for a $6 billion bailout package aimed at shoring up its finances and strengthening a slowing economy.
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Trump is applying the screws.
Follow the money.
Loans they’ll never pay back. Watch their creditors fight over how to divvy that shithole up.
They could have a nuclear bake sale for terrorists to raise some cash.
India should offer $20 billion in aid...if the Pakis give up all their nukes.
Not gonna happen.
Might as well trade mango pickles
Pakistan needs to just die. They’re some of the most abhorrent people on earth.
Who needs American money when he has such loyal rich allies as China, Saudi, UAE and Qatar.
Several years ago a Saudi government official said something to the effect of, we already have nuclear weapons. How do you think all those loans to Pakistan were repaid? Pakistan is poor, with no possibility of ever becoming a first, or even second world economic power. As far as I can see, they have only one item of any value and that is their nuclear technology.
At a party after the fall of the Soviet Union a Pole asked an American official how Poland could become rich like America. The official said, “Every morning for 200 years every American got up and did the very best they could for themselves. When every Pole can do that you will be a rich country.” There is no way that people living in a Muslim culture can get up every morning and do the best they can for themselves in the way that Westerners can. They are constrained from every direction by their religion to remain in the ninth century.
You are correct that it is about working hard every day
Excellent post....and certainly not “blather”!
Advisor to Pakistan Prime Minister on Finance Dr Abdul Hafeez Shaikh confirmed the Qatari financial help... "I want to thank the Emir of Qatar HRH Sheikh Tamim Bin Hamad Al Thani for announcing $3 billion in deposits and direct investments for Pakistan..."
Pakistan has been an Islamic terrorist scourge. Now it’s an impoverished Islamic terrorist scourge.
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