Seventh review: IMF approves $506m loan tranche for Pakistan

Discussion in 'Pakistan' started by Blackwater, Jun 28, 2015.

  1. Blackwater

    Blackwater Veteran Member Veteran Member

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    Amid calls for quick and decisive action on energy and taxation fronts, the International Monetary Fund (IMF) on Friday approved the release of $506 million loan tranche for Pakistan, ending the relatively easy part of the three-year bailout programme.

    The decision to disburse the loan tranche was taken by the Executive Board of the IMF that met in Washington and approved the seventh review of Pakistan’s economy for the period of January-March of the outgoing fiscal year. This paved the way for the release of the eight-loan tranche of $506 million that will be made available to Pakistan next week.

    In September 2013, the IMF had approved the three-year extended fund facility amounting to $6.6 billion. With the approval of the seventh review, Pakistan had crossed the midpoint. So far, the focus of the IMF has remained on quantitative targets.

    Pakistan had met all the conditions for the January-March period and, like the sixth review, it did not require any waiver from the executive board. However, in the first five reviews, the IMF gave ten waivers to keep the bailout programme on track, as the government’s performance remained mixed in areas of reducing its budgetary borrowings from the central bank and building foreign currency reserves.


    Pakistan has made encouraging progress towards improving its economic resilience, and imbalances continue to be addressed, IMF Mission Chief to Islamabad Harald Finger said, adding that these achievements are presenting a welcome opportunity to reinforce the recent stability gains and to make further inroads on the structural reform agenda.

    While placing emphasis on undertaking structural reforms, Finger said, “Important elements will include quick and decisive implementation of energy sector reforms, broadening the tax base, restructuring of state-owned enterprises, and improving the business climate.”

    The government’s performance on energy and taxation fronts remains discouraging, as it has failed to undertake much-needed reforms in these areas. The delay in implementing energy reforms is costing the country roughly 2% less Gross Domestic Product each year. This has also delayed the disbursement of $900 million worth of loans by the World Bank and the Asian Development Bank.
     
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  3. Blackwater

    Blackwater Veteran Member Veteran Member

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    ohhh tawadi pak army got 506 million$$$$ more:):):):):)
     
  4. blueblood

    blueblood Senior Member Senior Member

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    @Abbasi, mubarak ho DAALAR aa gaye. :biggrin2:
     
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  5. Blackwater

    Blackwater Veteran Member Veteran Member

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    iddi mil gayi ,lollipop mil gaya IMF se:):):):)
     
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  6. Blackwater

    Blackwater Veteran Member Veteran Member

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    [​IMG]

    thank you phaaji $$$$$$ da , hun me dubai ch kothi paon-ga:laugh::laugh:

    [​IMG]

    Fikaar na karo, ameika to $$$$ a gaye-ne, raat nu roti mil jao
     
  7. Blackwater

    Blackwater Veteran Member Veteran Member

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    [​IMG]


    IMF to $$$$ a gaye-ne , sare mere ne tenu kag nahi dena:pound::pound:
     
  8. Blackwater

    Blackwater Veteran Member Veteran Member

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    [​IMG]



    sukur allah da $$$ a gaye:megusta::megusta::megusta::megusta:
     
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  9. ezsasa

    ezsasa Senior Member Senior Member

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    @Blackwater Maybe you should convert the above quotes into meme,also don't forget to add some chinese masala to make it more spicy. :balleballe::cowboy:
     
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  10. Abhijat

    Abhijat Regular Member

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    What are the "conditions attached" ?
     
  11. Blackwater

    Blackwater Veteran Member Veteran Member

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    That they will default and ask for another loan lolllllllllll

    Obviously man more taxes , increase in water and electric and gas prices etc etc,

    But pak govt got solution for this stop supply water electric and gas to their awam , no gas no bill no tax lolllll
     
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  12. ezsasa

    ezsasa Senior Member Senior Member

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    Some times even pakis don't bother to ask, why they need loans from IMF?
    They are getting billions from China isn't it!!!!
     
  13. Abhijeet Dey

    Abhijeet Dey Regular Member

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    What if in future the condition of Pakistan becomes similar to Greece?? This is so alarming given that Pakistan has got these islamic fundamentalist organisations aided by Pakistan ISI.
     
  14. Blackwater

    Blackwater Veteran Member Veteran Member

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    well pakis can never be Greece because pakistan is atmi aukuwat they always blackmail world that if they dont get AID, taliban will get nukes.

    They always blackmail arabs in the name of islam and only islami atmi aukuwat and and they are the only one standing as sisa pilai dewaar between islam and yehudi and hindu kufur
     
  15. Brood Father

    Brood Father Regular Member

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    How does matter ..all the money will be spent into so called fighting terrerisiom ..and the ordinary people will be subjected to eat grass
     
  16. Blackwater

    Blackwater Veteran Member Veteran Member

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    in short all money goes to gazi army for gazwa-a-hind:rofl::rofl::rofl:
     
  17. EXPERT

    EXPERT Regular Member

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    @Blackwater Veerji don't you think Pakistan is the next Greece..
     
  18. hit&run

    hit&run Elite Member Elite Member

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    Mi 35 Helicopters from Russia.
    T-55 Tanks from Serbia.
    Old F-16s from Jordon.
    Demonstration on /Plan to buy of 5th generation Jets, 6 Nuclear submarines, 17-Z 10, HQ-16 etc. from China.
    15 AH 1Z from USA along with other sundry items.

    Going by the list of new weapons Pakistan is planning and procuring to show off to its 'jahil awam' one can see great irony in these installments being released by IMF to help their economy/development.

    And the biggest Irony than this is, when Pakistanis get facial palsy for non stop lecturing India for buy weapons of our hard earned liquid cash, as we face real threats from two nuclear capable terrorist sympathizer rouge nation like China and Pakistan.
     
  19. Blackwater

    Blackwater Veteran Member Veteran Member

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    pls refer my post 13 for answer
     
  20. blueblood

    blueblood Senior Member Senior Member

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    @hit&run, I don't think they are going for nuclear submarines. Their entire naval budget is $750 million. Your average nuclear submarine not only costs much more than that, they also cost an arm and a leg to maintain.

    Recent purchase of T-55 tanks is a brilliant example of how well the things are going for Pak i.e. if you keep in mind that army gets the lion's share.

    15AH-1Z - Military aid.
    3 Z-10 - Gift and rest on soft loan.
    Mi-35 - Hard cash?

    It is hilarious to see Pak military struggling to maintain some kind of conventional deterrence.
     
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  21. Abhijeet Dey

    Abhijeet Dey Regular Member

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    I have also heard somewhere that Pakistan may also get excess weapons which were used by the US Army in Afghanistan.
     

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