Pakistani Economic Stress Watch

The Strategic Issues & International Relations Forum is a venue to discuss issues pertaining to India's security environment, her strategic outlook on global affairs and as well as the effect of international relations in the Indian Subcontinent. We request members to kindly stay within the mandate of this forum and keep their exchanges of views, on a civilised level, however vehemently any disagreement may be felt. All feedback regarding forum usage may be sent to the moderators using the Feedback Form or by clicking the Report Post Icon in any objectionable post for proper action. Please note that the views expressed by the Members and Moderators on these discussion boards are that of the individuals only and do not reflect the official policy or view of the Bharat-Rakshak.com Website. Copyright Violation is strictly prohibited and may result in revocation of your posting rights - please read the FAQ for full details. Users must also abide by the Forum Guidelines at all times.
nachiket
Forum Moderator
Posts: 6841
Joined: 02 Dec 2008 10:49

Re: Pakistani Economic Stress Watch

Postby nachiket » 22 May 2019 23:49

yensoy wrote:By devaluing the PKR, they are only stiffing themselves, since PKR denominated debt is most likely only held by Pakis. The waderas know better and hold land, factories and foreign properties. Whatever few middle classes there are, govt servants (including lower ranked military), and pensioners will be the ones with fixed income PKR instruments such as FDs and bonds. The smarter ones will see the writing on the wall, pull out their savings and convert them to dollars, as they have in recent days.

It's ok to keep your currency just a little undervalued in terms of fair market value; but getting it into a death spiral is a very Paki thing to do.

How are they supposed to defend the PKR? Only way to do that is for the central bank to sell some of it's own dollar reserves in the market to push the price of dollars down. That is exactly what Ishaq Dar kept doing and what got them into trouble in the first place. They have no reserves left to defend the PKR with and the only way to remedy that is get more loans in USD (which is also what Dar did).

Your argument stands if the PKR was already undervalued or close to it, but it is not. The market seems to think it is still overvalued. In that scenario defending its value is basically providing a subsidy for imports. That may not necessarily be a bad idea, the RBI does that too to avoid making oil and other imports too expensive and provide stability for the exchange rate. But you can only do that when you have sufficient forex reserves not when you are staring at rapidly emptying coffers like the pakis are.

Bart S
BRFite
Posts: 1729
Joined: 15 Aug 2016 00:03

Re: Pakistani Economic Stress Watch

Postby Bart S » 23 May 2019 00:20

^They have also been basically providing subsidies for their population using foreign loans. Since they import most of their stuff, keeping the exchange rate low is also a way of subsidizing the cost of living for their population.

Seeing the whining about 'mehengai', it is surprising to see that costs of basic items including petrol are still cheaper than India after going up by 30-40% in a short time-frame. So clearly their GDP and population figures are fudged, and population had low buying power or are used to really cheap prices, that they used loans to subsidize while the elite stole everything else.

The rapid devaluation is showing the real value of not only their currency but their GDP/economy in nominal terms.

nachiket
Forum Moderator
Posts: 6841
Joined: 02 Dec 2008 10:49

Re: Pakistani Economic Stress Watch

Postby nachiket » 23 May 2019 01:51

US dollars set ablaze after devaluation of rupee in Gujranwala

As per details, Amjad set the dollar, he was possessing on fire, to initiate movement to stabilise Pakistani rupee against the greenback.

“I’m setting my dollars ablaze with an aim to stabilise the country’s economy”, Amjad said while talking to ARY News correspondent Ghulam Fareed.

He urged masses to do the same and avoid trading in US dollar to strengthen Pakistani rupee.


:rotfl: Typical pakis reacting the only way they know. I suggest next time they should blow up a huge stack of dollars with an IED. Shredding dollar bills by Ak-phyrring at them is also an option.

Peregrine
BRF Oldie
Posts: 7330
Joined: 11 Aug 2016 06:14

Pakistani Economic Stress Watch

Postby Peregrine » 23 May 2019 02:14

menon s wrote:Deficit calculation doesnt take to consideration, the circular debt of 1400 billion pkr ( 10 bn usd), this has been hidden.
add this 10 bn to it, and the defecit becomes: 8.5% of GDP?
khan wrote:One of the advantages of depreciation like this is it cuts the dollar value of domestic debt. So, at 200PKR per USD, that 1400 billion PKR debt is reduced to 7 billion USD, so their USD borrowings will go further towards resolving their domestic debt problems.

All this is just rearranging the deck chairs on the titanic. Unless they fix the root problem or military spending, the future value of PKR is ZERO.
khan saheb :

But then the present "Phorn Debt" as per Pakistan's External Debt and Liabilities - Outstanding Provisional - Billion US$ of US$ 105.841Billion @PKR 140.7 goes up by about Rs 6,300 Billion i.e. Al Jamuriya Islamia Al Bakistania i.e. it is in Deep Doo Doo Creek without a Paddle!

Surely Devaluation is a Disaster!

Cheers Image

Peregrine
BRF Oldie
Posts: 7330
Joined: 11 Aug 2016 06:14

Re: Pakistani Economic Stress Watch

Postby Peregrine » 23 May 2019 02:44

nachiket wrote:US dollars set ablaze after devaluation of rupee in Gujranwala

As per details, Amjad set the dollar, he was possessing on fire, to initiate movement to stabilise Pakistani rupee against the greenback.

“I’m setting my dollars ablaze with an aim to stabilise the country’s economy”, Amjad said while talking to ARY News correspondent Ghulam Fareed.

He urged masses to do the same and avoid trading in US dollar to strengthen Pakistani rupee.


:rotfl: Typical pakis reacting the only way they know. I suggest next time they should blow up a huge stack of dollars with an IED. Shredding dollar bills by Ak-phyrring at them is also an option.
nachiket Ji :
Amjad is a smart Terroristan - he set fire to "Counterfeit" US Dollar Currency! :rotfl:

Cheers Image
Last edited by Peregrine on 23 May 2019 02:57, edited 1 time in total.

nachiket
Forum Moderator
Posts: 6841
Joined: 02 Dec 2008 10:49

Re: Pakistani Economic Stress Watch

Postby nachiket » 23 May 2019 02:46

Peregrine wrote:nachiket Ji :
Amjad is is a smart Terroristan - he set fire to "Counterfeit" US Dollar Currency! :rotfl:

Cheers Image

Not smart enough I say. He should have burned the real currency and smuggled the counterfeits into amreeka to destroy their economy!

Peregrine
BRF Oldie
Posts: 7330
Joined: 11 Aug 2016 06:14

Re: Pakistani Economic Stress Watch

Postby Peregrine » 23 May 2019 03:02

Peregrine wrote:nachiket Ji :
Amjad is is a smart Terroristani - he set fire to "Counterfeit" US Dollar Currency! :rotfl:

Cheers Image
nachiket wrote:Not smart enough I say. He should have burned the real currency and smuggled the counterfeits into amreeka to destroy their economy!
nachiket Ji :

Amjad is a smart Terroristani - be burnt the "Phaked" US$ Notes! The Real Currency is still in his pockets! :rotfl:

Cheers Image

partha
BRF Oldie
Posts: 3988
Joined: 02 Jul 2010 15:25

Re: Pakistani Economic Stress Watch

Postby partha » 23 May 2019 03:33

nachiket wrote:US dollars set ablaze after devaluation of rupee in Gujranwala

As per details, Amjad set the dollar, he was possessing on fire, to initiate movement to stabilise Pakistani rupee against the greenback.

“I’m setting my dollars ablaze with an aim to stabilise the country’s economy”, Amjad said while talking to ARY News correspondent Ghulam Fareed.

He urged masses to do the same and avoid trading in US dollar to strengthen Pakistani rupee.


:rotfl: Typical pakis reacting the only way they know. I suggest next time they should blow up a huge stack of dollars with an IED. Shredding dollar bills by Ak-phyrring at them is also an option.

Look at the positive side of this. Earlier Amjad used to set KFC on fire now it's just some stack of papers. This is progress. If this doesn't improve Pakistan's ranking in ease of doing business, I don't know what will.

Peregrine
BRF Oldie
Posts: 7330
Joined: 11 Aug 2016 06:14

Pakistani Economic Stress Watch

Postby Peregrine » 23 May 2019 03:48

Soaring dollar takes toll on uplift projects - Waqas Ahmed

ISLAMABAD: The cost of 134 ongoing development projects in the country has surged by Rs945.22 billion due to increase in the rate of dollar and technical errors.

According to official documents available with Express News, the cost of Neelum-Jhelum hydropower project has soared by Rs389 billion while that of Kachhi canal by Rs49.140 billion, Mangla dam expansion project by Rs35.30 billion, Pakistan Railways engine purchase project by Rs32.79 billion and Gwadar airport by Rs14.57 billion.

The reason behind the huge surge is said to be rise in the dollar’s value, financial difficulties, changes in project designs and mismanagement by the companies working on the projects.

Balochistan CM approves uplift projects for Gwadar

During the past 10 years, the federal governments started work on 822 development projects under the Public Sector Development Programme (PSDP) of which the cost of 134 projects increased.

The cost of 22 development projects of the Ministry of Water Resources rose by Rs648.21 billion, while that of railways’ by Rs57 billion.

The documents state that due to technical faults in the development projects, the food security projects suffered a loss of Rs14.10 billion, housing projects Rs17.64 billion and that of the communications department Rs135.380 billion.

Due to delay in the projects of the Ministry of Kashmir Affairs, Rs14.920 billion loss was suffered, while due to the same reason the treasury division’s projects suffered a loss of Rs11.480 billion, the aviation division’s projects Rs15.120 billion and interior division’s Rs4 billion.

The documents mention that the cost of the Neelum-Jhelum hydropower project witnessed the highest increase of Rs389.681 billion.

PDWP approves 12 projects worth Rs10b

The costs of the Kachhi canal project increased by Rs49.148 billion, expansion of Mangla dam project by Rs34.302 billion, restoration project of National Highway Authority network – due to rains – rose by Rs26.297 billion and the project of 75 diesel electric locomotives of railways by Rs32.7959 billion.

According to the documents, the cost of Gwadar airport increased by Rs14.57 billion, Lowari Road Tunnel and Access Road project increased by Rs18.86 billion.

The cost of improvement in nine projects of the National Highway Development Sector Project rose by Rs18.71 billion. The cost of Golan Gol hydropower project increased by Rs22.42 billion, Keyal Khwar hydropower project, Khyber-Pakhtunkhwa by Rs19.171 billion, the construction cost of the Shadi Khor dam, Gwadar increased by Rs5.290 billion and the prime minister hepatitis programme increased by Rs11.310 billion.

Cheers Image

Bart S
BRFite
Posts: 1729
Joined: 15 Aug 2016 00:03

Re: Pakistani Economic Stress Watch

Postby Bart S » 23 May 2019 05:45

Coupta is horrified at Paki economic distress, and is even more distressed at the likelihood that India will not help them come out of it, or heaven forbid, will actually take advantage of it! :evil:


CalvinH
BRFite
Posts: 583
Joined: 15 Jul 2007 04:14

Re: Pakistani Economic Stress Watch

Postby CalvinH » 23 May 2019 07:54

Peregrine wrote:
Peregrine wrote:nachiket Ji :
Amjad is is a smart Terroristani - he set fire to "Counterfeit" US Dollar Currency! :rotfl:

Cheers Image
nachiket wrote:Not smart enough I say. He should have burned the real currency and smuggled the counterfeits into amreeka to destroy their economy!
nachiket Ji :

Amjad is a smart Terroristani - be burnt the "Phaked" US$ Notes! The Real Currency is still in his pockets! :rotfl:

Cheers Image


Highly likely. A famous Pakistani politician (and now a minister in PTI govt) once donated USD $1 Million note (single note amounting USD $1Mn) for flood relief in KP. The note was escorted by the local division commander himself to the bank where it was deposited with fanfare.

CalvinH
BRFite
Posts: 583
Joined: 15 Jul 2007 04:14

Re: Pakistani Economic Stress Watch

Postby CalvinH » 23 May 2019 07:57

Pakistani journalist always write debt payments and security expenditure together. Don't want to mention Security expenditure alone.

yensoy
BRFite
Posts: 1340
Joined: 29 May 2002 11:31
Location: USA

Re: Pakistani Economic Stress Watch

Postby yensoy » 23 May 2019 08:14

nachiket wrote:How are they supposed to defend the PKR? Only way to do that is for the central bank to sell some of it's own dollar reserves in the market to push the price of dollars down. That is exactly what Ishaq Dar kept doing and what got them into trouble in the first place. They have no reserves left to defend the PKR with...
Your argument stands if the PKR was already undervalued or close to it, but it is not. The market seems to think it is still overvalued.


Halaal or Jhatka. They chose Halaal because it is halal when they should have chosen Jhatka. So their rupee is bleeding a slow death. The right thing to do was to cut deep, cut quick, cut early and cut once. What is happening today is more due to fear than the fundamentals (bad as they are). At least such a decisive move would have stabilized the rupee for the next year or so, despite the trade deficits. Remember, trade deficit is only one item - FDI and remittances are equally important; and in an environment of uncertainty, these tend to dry up.

khan
BRFite
Posts: 474
Joined: 12 Feb 2003 12:31
Location: Tx

Re: Pakistani Economic Stress Watch

Postby khan » 23 May 2019 10:25

Today's Modi victory means there might not be a Pakistan for the next Lok Sabha election.

Peregrine
BRF Oldie
Posts: 7330
Joined: 11 Aug 2016 06:14

Pakistani Economic Stress Watch

Postby Peregrine » 23 May 2019 13:58

khan wrote:Today's Modi victory means there might not be a Pakistan for the next Lok Sabha election.
khan Ji : Oh! Lord : So Must It Be! :rotfl:

Cheers Image

Peregrine
BRF Oldie
Posts: 7330
Joined: 11 Aug 2016 06:14

Pakistani Economic Stress Watch

Postby Peregrine » 23 May 2019 15:08

X Posted on the Analyzing CPEC and OBOR, Chinese Strategy and Implications Threads

Pakistan discloses borrowing from China - Shahbaz Rana

ISLAMABAD: Pakistan, for the first time, fully disclosed the debt taken from China which stood at $6.5 billion for the current fiscal year alone, equal to three-fourths of the $8.6 billion worth of total loans that Islamabad received in the past 10 months, show official documents. I bet that this disclosure has been Treated and Approved by and with the Chinese Medicine Man's "DOCTORING"

Under pressure from the International Monetary Fund (IMF), the government of Prime Minister Imran Khan has disclosed every type of loan that Islamabad has received from its strategic ally, China.

Foreign loan disbursements in Jul-Apr of the current financial year showed loans for the Karachi Nuclear Power Plants, known as K2 and K3, and China SAFE deposits as part of federal debt obligations.

Earlier, the $2 billion worth of China SAFE deposits, which Islamabad had received in July 2018, were shown on the books of the State Bank of Pakistan (SBP). SAFE is an acronym for the State Administration of Foreign Exchange managed by the Chinese central bank.

China provides satisfying legal services via Internet

Pakistan also received $3 billion from Saudi Arabia and $2 billion from the United Arab Emirates but these loans were not disclosed along with Chinese SAFE deposits.

Pakistan has long been using Chinese money to shore up its official foreign currency reserves but it is for the first time that these Chinese deposits with the central bank have been made part of the Ministry of Finance’s debt statistics.

Finance ministry spokesman Dr Khaqan Najeeb did not comment on the development. But a senior official of the Ministry of Finance and Economic Affairs told The Express Tribune that the decision to disclose Chinese SAFE deposits was taken at the level of Adviser to Prime Minister on Finance Dr Abdul Hafeez Shaikh.

The full disclosure of Chinese loans was one of the sticking points between the government and the IMF during staff-level negotiations for a $6-billion bailout package. It now seems Prime Minister Imran Khan has accepted the IMF’s terms on Chinese loans.

The United States wants to ring-fence IMF money in order to stop Pakistan from using such funds for repaying Chinese loans.

Owing to the fresh disclosure, the Chinese foreign loans from July through April FY19 surged to $6.56 billion, according to the finance ministry’s documents. These were equal to 75% of the total foreign loans of $8.6 billion that Pakistan received during the period.

There was over $2-billion jump in foreign loan disbursements within a month due to the disclosure of Chinese loans.

Chinese ambassador blames US for sinking trade deal

Out of the $6.5 billion, China gave $2 billion in SAFE deposits and $2.53 billion in foreign commercial loans, also for cushioning the declining foreign exchange reserves.

In March, the Chinese government provided the loans through two commercial banks. China Development Bank gave $2.24 billion in a short-term loan while Industrial and Commercial Bank of China (ICBC) disbursed $300 million.

China gave $628.4 million for the construction of two ongoing nuclear power plants in the past 10 months, according to the finance ministry statistics.

China also gave $1.4 billion in project financing in the past 10 months, largely for China-Pakistan Economic Corridor (CPEC) projects. Project loans have largely been disbursed for the Sukkur-Multan motorway, Havelian-Thakot project of CPEC and Lahore Orange Line project.

Every successive government has been heavily relying on foreign loans to stay afloat. The reliance on China increased in recent years after the traditional multilateral lenders stopped budgetary support due to deterioration in macroeconomic conditions.

Pakistan hopes that the blocked budgetary support will soon be restored after approval of the $6-billion bailout package by the IMF Executive Board. It also expects to return to the international capital market from the next fiscal year to raise funds for building official foreign currency reserves.

On the back of Chinese loans, the commercial financing surged to $3.2 billion as of the end of April, which was equal to 37.2% of the total foreign loans. Ajman Bank PJSC disbursed another tranche of $76 million in April, taking its total loans to $150 million.

A consortium of Credit Suisse AG, UBL and ABL has already given $295 million and $184 million was released by Dubai Bank in previous months. The lending by multilateral agencies amounted to $1.3 billion or 14% of the total disbursements. The country received $380 million from the Asian Development Bank (ADB) by April, far lower than estimates. The World Bank disbursed only $250 million.

The Islamic Development Bank (IDB) disbursed an additional $35 million last month, which took its total loans for Pakistan to $578 million in 10 months. The IDB gave these commercial loans for oil purchase from Saudi Arabia. The disbursements by other lenders remained low.

Cheers Image

Pakistan discloses borrowing from China - Shahbaz Rana

ISLAMABAD: Pakistan, for the first time, fully disclosed the debt taken from China which stood at $6.5 billion for the current fiscal year alone, equal to three-fourths of the $8.6 billion worth of total loans that Islamabad received in the past 10 months, show official documents.

Under pressure from the International Monetary Fund (IMF), the government of Prime Minister Imran Khan has disclosed every type of loan that Islamabad has received from its strategic ally, China.

Foreign loan disbursements in Jul-Apr of the current financial year showed loans for the Karachi Nuclear Power Plants, known as K2 and K3, and China SAFE deposits as part of federal debt obligations.

Earlier, the $2 billion worth of China SAFE deposits, which Islamabad had received in July 2018, were shown on the books of the State Bank of Pakistan (SBP). SAFE is an acronym for the State Administration of Foreign Exchange managed by the Chinese central bank.

China provides satisfying legal services via Internet

Pakistan also received $3 billion from Saudi Arabia and $2 billion from the United Arab Emirates but these loans were not disclosed along with Chinese SAFE deposits.

Pakistan has long been using Chinese money to shore up its official foreign currency reserves but it is for the first time that these Chinese deposits with the central bank have been made part of the Ministry of Finance’s debt statistics.

Finance ministry spokesman Dr Khaqan Najeeb did not comment on the development. But a senior official of the Ministry of Finance and Economic Affairs told The Express Tribune that the decision to disclose Chinese SAFE deposits was taken at the level of Adviser to Prime Minister on Finance Dr Abdul Hafeez Shaikh.

The full disclosure of Chinese loans was one of the sticking points between the government and the IMF during staff-level negotiations for a $6-billion bailout package. It now seems Prime Minister Imran Khan has accepted the IMF’s terms on Chinese loans.

The United States wants to ring-fence IMF money in order to stop Pakistan from using such funds for repaying Chinese loans.

Owing to the fresh disclosure, the Chinese foreign loans from July through April FY19 surged to $6.56 billion, according to the finance ministry’s documents. These were equal to 75% of the total foreign loans of $8.6 billion that Pakistan received during the period.

There was over $2-billion jump in foreign loan disbursements within a month due to the disclosure of Chinese loans.

Chinese ambassador blames US for sinking trade deal

Out of the $6.5 billion, China gave $2 billion in SAFE deposits and $2.53 billion in foreign commercial loans, also for cushioning the declining foreign exchange reserves.

In March, the Chinese government provided the loans through two commercial banks. China Development Bank gave $2.24 billion in a short-term loan while Industrial and Commercial Bank of China (ICBC) disbursed $300 million.

China gave $628.4 million for the construction of two ongoing nuclear power plants in the past 10 months, according to the finance ministry statistics.

China also gave $1.4 billion in project financing in the past 10 months, largely for China-Pakistan Economic Corridor (CPEC) projects. Project loans have largely been disbursed for the Sukkur-Multan motorway, Havelian-Thakot project of CPEC and Lahore Orange Line project.

Every successive government has been heavily relying on foreign loans to stay afloat. The reliance on China increased in recent years after the traditional multilateral lenders stopped budgetary support due to deterioration in macroeconomic conditions.

Pakistan hopes that the blocked budgetary support will soon be restored after approval of the $6-billion bailout package by the IMF Executive Board. It also expects to return to the international capital market from the next fiscal year to raise funds for building official foreign currency reserves.

On the back of Chinese loans, the commercial financing surged to $3.2 billion as of the end of April, which was equal to 37.2% of the total foreign loans. Ajman Bank PJSC disbursed another tranche of $76 million in April, taking its total loans to $150 million.

A consortium of Credit Suisse AG, UBL and ABL has already given $295 million and $184 million was released by Dubai Bank in previous months. The lending by multilateral agencies amounted to $1.3 billion or 14% of the total disbursements. The country received $380 million from the Asian Development Bank (ADB) by April, far lower than estimates. The World Bank disbursed only $250 million.

The Islamic Development Bank (IDB) disbursed an additional $35 million last month, which took its total loans for Pakistan to $578 million in 10 months. The IDB gave these commercial loans for oil purchase from Saudi Arabia. The disbursements by other lenders remained low.

Cheers Image

Bart S
BRFite
Posts: 1729
Joined: 15 Aug 2016 00:03

Re: Pakistani Economic Stress Watch

Postby Bart S » 23 May 2019 16:12

khan wrote:Today's Modi victory means there might not be a Pakistan for the next Lok Sabha election.


au contraire, Modi's stated goal is to have at least one Pakistan in each house in India. Swacch Bharat etc.

Bart S
BRFite
Posts: 1729
Joined: 15 Aug 2016 00:03

Re: Pakistani Economic Stress Watch

Postby Bart S » 23 May 2019 16:39

https://www.dawn.com/news/1484019/from- ... to-reality

A good read, sums up the failure of the IK govt on addressing the economic problems in Pakistan

YumKay
BRFite
Posts: 105
Joined: 27 Apr 2019 03:44

Re: Pakistani Economic Stress Watch

Postby YumKay » 23 May 2019 17:53

Pakistan will not go bankrupt onleeee :(( :(( :((

YumKay
BRFite
Posts: 105
Joined: 27 Apr 2019 03:44

Re: Pakistani Economic Stress Watch

Postby YumKay » 23 May 2019 18:09

Pakistan will not go bankrupt onleeee :(( :(( :((

JTull
BRF Oldie
Posts: 2616
Joined: 18 Jul 2001 11:31

Re: Pakistani Economic Stress Watch

Postby JTull » 23 May 2019 18:15

YumKay wrote:Pakistan will not go bankrupt onleeee :(( :(( :((


I can see it going down the route of USSR. PA will be forced to retreat to it's core Punjabi. With no money, the regions will start declaring themselves independent and no one will be able to stop them.

The beauty of that approach is that the Pakistan state will shrink to that core Punjabi constituency. Then the independent states will have no liability from all these external borrowings and the residual Pakistan will be saddled with it.

darshan
BRFite
Posts: 798
Joined: 28 Jan 2008 04:16

Re: Pakistani Economic Stress Watch

Postby darshan » 23 May 2019 19:48

Where to get USD to pkr chart for past 20 years?

yensoy
BRFite
Posts: 1340
Joined: 29 May 2002 11:31
Location: USA

Re: Pakistani Economic Stress Watch

Postby yensoy » 23 May 2019 20:25

JTull wrote:The beauty of that approach is that the Pakistan state will shrink to that core Punjabi constituency. Then the independent states will have no liability from all these external borrowings and the residual Pakistan will be saddled with it.


This should exactly be our plan. A land-locked state can never be a major power. Once Punjab is hemmed in, our biggest active threat disappears. We need the buy-in of world powers (minus China of course) to realize this vision.

Ardeshir
BRFite
Posts: 1072
Joined: 15 Jan 2008 03:10
Location: Londonistan/Nukkad

Re: Pakistani Economic Stress Watch

Postby Ardeshir » 23 May 2019 20:49

darshan wrote:Where to get USD to pkr chart for past 20 years?

Here is a 10 Year chart. https://www.xe.com/currencycharts/?from ... R&view=10Y

YumKay
BRFite
Posts: 105
Joined: 27 Apr 2019 03:44

Re: Pakistani Economic Stress Watch

Postby YumKay » 23 May 2019 21:04

JTull wrote:
YumKay wrote:Pakistan will not go bankrupt onleeee :(( :(( :((


I can see it going down the route of USSR. PA will be forced to retreat to it's core Punjabi. With no money, the regions will start declaring themselves independent and no one will be able to stop them.

The beauty of that approach is that the Pakistan state will shrink to that core Punjabi constituency. Then the independent states will have no liability from all these external borrowings and the residual Pakistan will be saddled with it.

Sir my post was AntiJinx spell onleee. This spell is to ensure nothing stops Pakistan from getting ........
This was tested in 2019 general election thread with great results.
From now on only serious thoughts will be posted.

JTull
BRF Oldie
Posts: 2616
Joined: 18 Jul 2001 11:31

Re: Pakistani Economic Stress Watch

Postby JTull » 23 May 2019 21:16

Ardeshir wrote:
darshan wrote:Where to get USD to pkr chart for past 20 years?

Here is a 10 Year chart. https://www.xe.com/currencycharts/?from ... R&view=10Y

Image

darshan
BRFite
Posts: 798
Joined: 28 Jan 2008 04:16

Re: Pakistani Economic Stress Watch

Postby darshan » 23 May 2019 21:34

Thanks. @JTull, @Ardeshir, @Peregrine (no ji for me)
Last edited by darshan on 24 May 2019 03:39, edited 2 times in total.

A_Gupta
BRF Oldie
Posts: 11156
Joined: 23 Oct 2001 11:31
Contact:

Re: Pakistani Economic Stress Watch

Postby A_Gupta » 23 May 2019 22:09

YumKay wrote:Pakistan will not go bankrupt onleeee :(( :(( :((


+108

Peregrine
BRF Oldie
Posts: 7330
Joined: 11 Aug 2016 06:14

Pakistani Economic Stress Watch

Postby Peregrine » 24 May 2019 01:06

darshan wrote:Where to get USD to pkr chart for past 20 years?
darshan Ji :
CURRENCY CHART FROM 1950 TO 2018

Please start from 1950 especially the US Dollar Rate for the Indian and Pakistani Currencies!

Cheers Image

abhijitm
BRF Oldie
Posts: 3488
Joined: 08 Jun 2006 15:02
Contact:

Re: Pakistani Economic Stress Watch

Postby abhijitm » 24 May 2019 09:01

The Dawn


Peregrine
BRF Oldie
Posts: 7330
Joined: 11 Aug 2016 06:14

Pakistani Economic Stress Watch

Postby Peregrine » 24 May 2019 15:36

SBP reserves fall $788m to stand at $8.06b
KARACHI: The foreign exchange reserves held by the central bank shrank 8.9% on a weekly basis, according to data released by the State Bank of Pakistan (SBP) on Thursday.
Earlier, the reserves had spiralled downwards, falling below the $7-billion mark, which raised concern over Pakistan’s ability to meet its financing requirements. However, financial assistance from the UAE and Saudi Arabia helped shore up the foreign exchange reserves.
On May 17, the foreign currency reserves held by the SBP were recorded at $8,057.6 million, down $788 million compared with $8,845.6 million in the previous week. The decline in reserves was due to external debt servicing and other official payments, the statement added. Overall, liquid foreign currency reserves, held by the country, including net reserves held by banks other than the SBP, stood at $15,126.5 million. Net reserves held by banks amounted to $7,068.9 million.
Cheers Image

Peregrine
BRF Oldie
Posts: 7330
Joined: 11 Aug 2016 06:14

Re: Pakistani Economic Stress Watch

Postby Peregrine » 24 May 2019 17:57

S&P BSE SENSEX

Index Current : 39,434.72 - Pt. Change : +623.33 - % Change : +1.61

Market Capitalization of BSE Listed Co. (Rs.Cr.) : 1,52,71,865.19 - $ 1 / I N R : 69.5650

Market Capitalization of BSE Listed Co. (U S $.) : 2,195.34 Billion

P S E

Current Index : 35,703.81 – Change : 122.47 - Percent Change : 0.34%

Market Capitalization of PSE Listed Co. (Rs.Tr.) : 7,205,105,409,658 – $ 1 / 153.50

Market Capitalization of PSE Listed Co. (U S $.) : 46.94 Billion

B S E : P S E : : 46.77 : 1


Cheers Image

Peregrine
BRF Oldie
Posts: 7330
Joined: 11 Aug 2016 06:14

Pakistani Economic Stress Watch

Postby Peregrine » 27 May 2019 00:44

Image

Cheers Image

Trikaal
BRFite
Posts: 544
Joined: 19 Jul 2017 08:01

Re: Pakistani Economic Stress Watch

Postby Trikaal » 27 May 2019 15:07

Back to this thread after 2 months(approx) and all I am seeing is bad news.
1.Pakis got the lifeline from IMF they were begging for
2. IMF helping Pakis become fiscally responsible and hence more stable in the longer run
3. CPEC loan terms not revealed to public.

A couple of years later we will be back to square 1,with Pakis begging for a loan and IMF obliging again. How much more money must be lost in this sinkhole before the world comes to sense?

Peregrine
BRF Oldie
Posts: 7330
Joined: 11 Aug 2016 06:14

Pakistani Economic Stress Watch

Postby Peregrine » 27 May 2019 17:04

S&P BSE SENSEX

Index Current : 39,683.29 - Pt. Change : +248.57 - % Change : +0.63%

Market Capitalization of BSE Listed Co. (Rs.Cr.) : 1,54,11,395.90 - $b $ 1 / I R = 69.5325

Market Capitalization of BSE Listed Co. (U S $.) : 2,216.43 Billion

P S E

Current Index : 35,697.37 - Change : -6.44 Percent Change -0.02%

Market Capitalization of PSE Listed Co. (Rs.Tr.) : 7,184,624,642,744 - $ 1 / T R = 151.70

Market Capitalization of PSE Listed Co. (U S $.) : 47.36 Billion

B S E : P S E : : 46.80 : 1


Cheers Image

Peregrine
BRF Oldie
Posts: 7330
Joined: 11 Aug 2016 06:14

Pakistani Economic Stress Watch

Postby Peregrine » 27 May 2019 17:46

Trikaal wrote:Back to this thread after 2 months(approx) and all I am seeing is bad news.
1.Pakis got the lifeline from IMF they were begging for
2. IMF helping Pakis become fiscally responsible and hence more stable in the longer run
3. CPEC loan terms not revealed to public.

A couple of years later we will be back to square 1,with Pakis begging for a loan and IMF obliging again. How much more money must be lost in this sinkhole before the world comes to sense?
Trikaal Ji :

Herewith the Rate of the US Dollar compared with various World Currency :

Foreign Currency Units per 1 U.S. Dollar, 1950-2018

Please note the U S Dollar Rate with that of the currencies of India and Terroristan.

In 1950 the Terroristani Rupee was worth about 1.44 Indian Rupees.

Now the Terroristani Rupee is worth ONLY 0.46 Indian Rupee!

Terroristan is in a "BOTTOMLESS PIT" It will NEITHER become fiscally responsible NOR more stable countrly!

Miracles can surely be "Hoped and Prayed for". Whether Allah will oblige or not - I KNOW NOT!

Cheers Image

A_Gupta
BRF Oldie
Posts: 11156
Joined: 23 Oct 2001 11:31
Contact:

Re: Pakistani Economic Stress Watch

Postby A_Gupta » 27 May 2019 18:20

How much more money must be lost in this sinkhole before the world comes to sense?


Whose money? If it is e.g., Chinese money, I say "pour away, keep pouring away into the sinkhole".

PS: that is, I believe that sinking money into Pakistan is less effective in threatening India than some other ways to spend that money.

abhik
BRF Oldie
Posts: 2436
Joined: 02 Feb 2009 17:42

Re: Pakistani Economic Stress Watch

Postby abhik » 27 May 2019 18:34

A question for the gurus here, What is the current per yearly cost the 3.5 fathers are paying to prop up the pakis? Would be interesting to see a trend of this data, is it getting more expensive or is the "rent" stable?

banrjeer
BRFite
Posts: 159
Joined: 21 Dec 2008 14:39

Re: Pakistani Economic Stress Watch

Postby banrjeer » 27 May 2019 18:57

yensoy wrote:
JTull wrote:The beauty of that approach is that the Pakistan state will shrink to that core Punjabi constituency. Then the independent states will have no liability from all these external borrowings and the residual Pakistan will be saddled with it.


This should exactly be our plan. A land-locked state can never be a major power. Once Punjab is hemmed in, our biggest active threat disappears. We need the buy-in of world powers (minus China of course) to realize this vision.


Sindh has higher gdp per capita vs panjab. It’s in a better position to negotiate a loan on its own.

Balochistan as well. These could become faultlines

Trikaal
BRFite
Posts: 544
Joined: 19 Jul 2017 08:01

Re: Pakistani Economic Stress Watch

Postby Trikaal » 27 May 2019 19:06

A_Gupta wrote:
Whose money? If it is e.g., Chinese money, I say "pour away, keep pouring away into the sinkhole".

PS: that is, I believe that sinking money into Pakistan is less effective in threatening India than some other ways to spend that money.


Chinese are too smart for that. They are bleeding US in Pakistan through a thousand cuts. And India too is a contributor to IMF fund, albeit a much smaller partner than US.

This money is actively being used to hurt India. Every dollar of alms given to these beggars means that much longer the army can afford to keep its pockets full and guns loaded, guns that are aimed at us. It also means Saudis and other Terrorist funders don't have to deal with this mess of an economy and can use every rial of their Allah-given oil money to spread the word of Allah in Kashmir and other parts of subcontinent. If insyead the Chinese and Saudis were forced to pick up the tab, you would have seen a fund crunch to all these Jihadi training camps. So yes, it does bother me that West is wasting its money to help Pakistan rather than buying more drones to bomb out Taliban.


Return to “Strategic Issues & International Relations Forum”

Who is online

Users browsing this forum: rahulm and 42 guests