Pakistan, a failed nation (because of Islam) receives another 9 billion jiziya to avert bankruptcy
* Hopeless. The only cure is to cure them from Islam. But our Western dhimmi politicians are just too keen to help this disease to spread. Why?
Come’on infidel, pay the jiziyah! (They really, really gonna love us for that!)
Pakistan is to receive a $9bn (£5.5bn) bail-out loan from the International Monetary Fund as the country has three weeks to stave off bankruptcy.
The IMF agreed in principle to a billion dollar economic stabilisation plan for Pakistan during a week-long meeting with Pakistani officials in Dubai, according to an official from the country’s finance ministry.
* By Isambard Wilkinson in Islamabad / sounds like another ‘revert’- what say you?
Pakistan needs at least $4bn to avoid defaulting on its foreign debts, as key allies including the United States, China and Saudi Arabia have all rebuffed government appeals for immediate funding.
Pakistan is facing economic turmoil after the rupee plunged to an all-time low in October, the balance of payments deficit widened to a record, and inflation jumped to a 30-year high.
Pakistan, which is also struggling to combat pro-Taliban and al-Qaeda militants, entered an economic crisis as the Pakistan Peoples Party-led government was paralysed for almost six months because of political wrangling that led to the resignation of the former military ruler, Pervez Musharraf.
The first disbursement of money from the IMF, which is likely to be for $3 billion to $4 billion, will only come after Pakistan has filed a formal request and the IMF has approved the aid.
Shaukat Tarin, economic adviser to the prime minister Yousuf Raza Gilani, told The Daily Telegraph that the money was needed urgently as confidence levels in Pakistan’s nosediving economy was “fast deteriorating”.
Mr Tarin said that first payment was needed with 20 days. He added that the IMF should finalise the agreement by November 15 ahead of a fund- raising conference to be held two days later by the Friends of Pakistan, a forum which includes the US, UK, China and Saudi Arabia, in Abu Dhabi.
He said that Pakistan’s allies were “looking for an endorsement from the IMF” of the country’s economic plan before they committed to offering more money.
Mr Tarin added that with Pakistan facing repayment on million dollar debts due at the beginning of next year, he wanted to secure enough money to bolster Pakistan’s rapidly depleting foreign reserves for “24 to 36 months to ahead”.
The IMF loan could be sufficient to cover Pakistan’s balance of payments deficit for the next two years, said Mr Tarin.
Earlier this week President Asidf Zardari said “time was running out and there was urgent need for the Friends of Pakistan to extend a helping hand.”
He added that Pakistan’s “very heavy price” in the war on terror should be acknowledged by the international community. (Must be a joke: the duplicitous bastards have been sabotaging us every step of the way!/ed)
An IMF program would be politically unpopular in Pakistan because it would likely come with painful conditions to cut government spending that could affect programs for the poor.