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Imran Khan, Debt, IMF Vassal to America

by Oui Sun Jul 3rd, 2022 at 10:23:02 AM EST

Maryam blames Imran govt for lack of trust by IMF

People's Choice As Cost of Living Surges

Imran 'only hope' for PTI supporters

For Mehar Zaman Khan, a farmer who came from Mianwali, Imran Khan was still the prime minister even after his ouster.

"Pakistan will suffer if Mr Khan will not be brought back into power. Free and fair elections should be held and true representatives of people should be allowed to rule," he opined.

Shahzad Ali and Muntazir Mehdi, residents of Chakwal, chided the government for removing PTI banners in Rawalpindi and Islamabad. They said such tactics could not "remove Imran Khan from their hearts", adding that any attempt to "defame" the former prime minister will further popularise him among the people.

Smokers' Corner: A Zionism-Inspired Ideology? | Dawn News |

Last week, the recently ousted PM of Pakistan warned that our `slavish' relationship with the US would bury Nazariya-i-Pakistan (the Pakistan Ideology). He did not explain exactly how this can come to be, or how our relationship with the US is any different to our relationship with other major donor countries such as Saudi Arabia, UAE and China.

Imran Khan was simply firing another one of his impetuous populist salvos which mean absolutely nothing. Just as the Nazariya-i-Pakistan. If you ask him to define this nazariya or ideology, there is every likelihood he would do so as would a ninth-grader. It will, quite literally, be a textbook answer: "The Pakistan Ideology is Jinnah's 'Two-Nation Theory' which was worked to highlight the differences between the Hindus and Muslims of India and then applied to create a separate Muslim-majority country in South Asia that would evolve to become an Islamic state navigated by Shariah laws."


Creation of a Terror Enclave Pashtunistan

Military given go-ahead for TTP talks, says Sana | Dawn News |

US Implicit Approval to Pak's Nuclear Bomb

US Turned Blind Eye To Pak Nuke Programme In 70s After China's Intervention: Report | Dec. 21, 2018 |

In addition to the US turning a blind eye to Pakistan's nuclear weapons programme, China also convinced the US to start giving more military and financial aid to Pakistan.

The documents reveal that the then Pakistani dictator General Zia-ul Haq and Chinese Vice Premier Deng Xiaoping were successful in extracting this price from the US in lieu of Islamabad's support to America against the Soviet invasion of Afghanistan.

In addition to the US turning a blind eye to Pakistan's nuclear weapons programme, Deng also convinced the US to start giving more military and financial aid to Pakistan, according to the US Foreign Relations 1977-1980 volume on Afghanistan.

The voluminous document indicates that both Zia and Deng successfully convinced the then Jimmy Carter administration that India under Prime Minister Indira Gandhi would be pro-Soviet.

"There are limits on our ability to aid Pakistan because of their nuclear explosive programme. Although we still object to their doing so, we will now set that aside for the time being, to facilitate strengthening Pakistan against potential Soviet action," the then US Defence Secretary Harold Brown said in a January 8, 1980 meeting with Deng.

The Chinese leader applauded the US decision as he was successfully able to convince the Carter administration on this issue.

Trump cut military support and financial aid to Pakistan driving the nation into debt arms of China

Trump Suggests Freezing $1.9B in Aid to Pakistan Just the Start | VOA News - Jan. 2018 |

Pakistan: An Insolvent Nuclear Weapons Power And Implications - Analysis | EurAsia Review - Dec. 1, 2021 |

Pakistan at the end of 2021 stands out significantly as an `Insolvent" nuclear weapons power whose external debt hovering at about $170 billion outstripping its GDP creates national security issues as admitted by Pakistan's incumbent PM Imran Khan recently. Significantly, Pakistan's insolvency as a Nuclear Weapons power generates regional and global security implications.

Meriting highlighting initially itself is the overall context that has led Pakistan into such a poor economic state. Pakistan as a `Rentier State' stood used over decades to trade-off its strategic utility earlier to United States ad since last couple of years to China which now has Pakistan in a colonial economic stranglehold of debt-traps via the CPEC inducements.

Besides the United States and China, one also needs to blame Saudi Arabia in a big way for Pakistan's insolvency. Saudi Arabia not for reasons of Islamic munificence but more as presumed in strategic circles has been generous to Pakistan with providing finances to Pakistan in billions of dollars in exchange for Pakistan assisting Saudi Arabia with Nuclear Weapons technology and blueprints. As late as last week Saudi Arabia has provided billions of dollars to bail out Pakistan from its financial mess with IMF refusing further loans.

Moving on to the major reasons for Pakistan's insolvency, two major reasons stand out significantly. Pakistan Army's exorbitant defence expenditures and particularly on Pakistan Army's Nuclear Weapons and Ballistic Missiles arsenal unrelated to South Asian threat scenarios but more fostered by Pakistan Army's grandiose designs of strategic equivalence with India, is the first major reason of Pakistan's insolvency.

Khan Espionage in The Netherlands -- NIKHEF and Urenco centrifuges ...

PM Ruud Lubbers: Nuclear Spy AQ Khan - CIA/America Refused Arrest in 1975 & 1985

A bit of blog history ...

Q: Dutch Justice Well Organized & Exemplary? A: No.

This diary set in motion I would be banned from dKos in 2004/2005 thx to non-supportive criticism by Plutonium Page. She visited Amsterdam a few times and claimed I didn't understand Dutch society. Perhaps I irritated her boyfriend. 🥹

In diary my arguments covered a number of events:

  • The threats Pim Fortuyn received gave sufficient grounds for offering him personal protection from last February.

  • Peter R. de Vries as Dutch crime fighter
  • Solving crime is more often by chance, and dependent on political color and motivation in government. The more difficult criminal acts are in the end solved through tips on TV, or as last resort, by crime fighter Peter R. de Vries. De Vries does great analysis of facts around the case, decides to check basic statements and does his homework.

    Cocaine: How the Italian mafia found a Dutch home

    Threat to Journalists and Press Freedom | July 8, 2021 |

    Institutional racial discrimination Dutch police and justice

    The Global Powers and Interventions Central Asia

    Recent post ...

    Karakalpak ASSR  h/t Cat

    Karakalpakstan: a little-known autonomy in the post-Soviet Central Asia

    According to some rumors, this provision was a result of lengthy secret negotiations between former Uzbek President Islom Karimov and the then leaders of the Republic of Karakalpakstan. The Karakalpak Constitution provides that relations between Uzbekistan and Karakalpakstan are regulated by bilateral treaties and agreements. These treaties and agreements have never been published, and some experts believe that they never existed. Instead, there were verbal agreements about the loyalty of Karakalpakstan in exchange to concessions from the center. Apparently, this explains the existence of the constitutional provision on secession. Some oppositional experts suggest that on 9 April 1993 the Republic of Uzbekistan and the Republic of Karakalpakstan might have signed a secret agreement which allegedly expired in 2013.


    'Sapere aude'
    by Oui (Oui) on Mon Jul 4th, 2022 at 04:42:13 AM EST

    Role of Obama's Administration Counter-terrorism Strategies

    US issues agrément for Masood Khan to take charge as Pakistani envoy in Washington

    'Sapere aude'

    by Oui (Oui) on Mon Jul 11th, 2022 at 05:29:33 PM EST
    IMF (1944 SDR capital): USD, GBP, EUR (FKA: DE, FR, NL 1995), JPY, RMB (2016)
    BIS (1930/1961 finance): BE, FR, DE, IT, UK, CH/"global" messaging
    G7: FR, DE, IT, EU-CO, EU-EC, JP, UK, US, CA

    African governments owe three times more debt to [G7] private lenders than China, 12 July

    The CHINA DEBT TRAP lie debunked, again, but not for the last time.

    progressives.house.gov | Letter in support of the IMF Debt Trap, 12 July

    Dear Mr. President and Secretary Yellen:

    We write to you amid deteriorating economic and humanitarian conditions around the world to request your support, and U.S. leadership, to help developing countries respond to the ongoing fallout of the COVID-19 pandemic, the resulting global economic downturn, and now, the devastating war in Ukraine. We in Congress must quickly approve essential funding toward global vaccination efforts as the Administration has requested in order to address the rise of variants across the world and fight the virus here in the United States. In addition, we urge you to immediately support a new issu[e] of at least $650 billion in [US] Special Drawing Rights (SDRs) at the International Monetary Fund (IMF) -- a simple, rapid, and cost-free [?!] way to enable Ukraine, its neighboring allies, and developing countries to respond to, and build back better from, these combined international crises.
    as a result of the disruption caused by the pandemic and long-existing structural deficiencies in the global financial market, over half of all low-income countries are now in or at high risk of debt distress. In 2020, 62 countries spent more on servicing external debt than on health care; growing indebtedness will likely lead to further reductions in spending on critical needs like health at a time when they are needed the most. Experts warn that, without action, the developing world may soon [?] be plunged into a destabilizing debt crisis ...
    this three-dimensional crisis of food, energy and finance.

    The IMF's issuance of $650 billion SDRs on August 23, 2021, proved to be a lifeline for low- and middle-income countries. In the six months since, at least 99 developing countries have made use of their [SDR] allocation[s] -- many within weeks of the issuance -- to stabilize their currencies [?!], shore up [foreign currency] reserves [?!], pay off debts [?!], and finance health care [?!], such as vaccinations, and other urgent needs.[fn.17. CEPR, "Righting the Record: Claims that SDRs Help US Enemies Are Baseless"]
    Sri Lanka called ...
    Nepal, for example, has used the entirety of its allocation, including for financing the purchase of vaccines and other pandemic needs. Ukraine, which was already under severe financial strain prior to the invasion, used the majority of its 2021 allocation, reducing its onerous debt burden. Many more developing countries--including Albania, Benin,The Gambia, Guinea-Bissau, Guyana, Madagascar, North Macedonia, Paraguay, São Tomé and Príncipe, and Uganda--have all used or committed to using their SDRs to support public health and combat the spread of COVID-19, with Liberia, Pakistan, Senegal, and Sierra Leone using SDRs specifically for vaccine imports, production, and distribution.
    "green" New Deal
    While we strongly support the Administration's efforts to recycle SDRs held by advanced economies [G7] for lower-income countries' use through Congressional authorization, a new IMF issuance of $650 billion in [reserve currency] SDRs is something the Administration can advance right now, under existing authorities. Such an issuance will immediately provide fresh financial resources to help developing economies to meet their critical public health needs... It would also be of particular value to the United States and some of its key allies. By boosting [USD-denominated] demand for U.S. exports, a new allocation has the possibility of creating HUNDREDS OF THOUSANDS of new American jobs. ...

    by Cat on Sun Jul 17th, 2022 at 09:45:00 PM EST

    USAID Administrator Power on the State of Global Food Security and Nutrition, 18 July A/V (EN)
    POWER: [00:51:00] The United States introduced a road map for global food security with called on UN member states to contribute to humanitarian organizations [?]to keep their food and agricultural markets open and avoid export bans on food and fertilizer, to increase domestic fertilizer production, to share market data, and to increase investments in long-term agricultural productivity. That was the [US] road map.
    Already more than 100 countries [?] have signed on to this [US] road map, but we need additional signatories to join the world at the table. One country in particular stands out, right now, for its absence, the People's Republic of China.

    Even before the war in Ukraine began Beijing's trade restrictions on fertilizer and hoarding of grain was inflating prices, while at the same time, the government offered little of the transparency into its stocks and production that might have soothe markets. Signing on to the [US] road map, removing export restrictions in its fertilizer exports, and releasing some of its grain reserves either to the global market or to humanitarian entities like the World Food Program [USA] with significant relief pressure on food and fertilizer prices, and powerfully demonstrate the country's desire to be a global and a friend to the world's least developed economies.

    Global Times | China attains bumper summer grain harvest, producing 147.4 billion kg grain, 20 July obscure MY 2022/2023 produder data
    China's elevated grain output and near self-sufficiency is a boon for global food security, Jiao Shanwei, editor-in-chief of industry news website cngrain.com, told the Global Times on Wednesday, adding that some Western media hype about China hoarding grain and causing a shortage in grain supply is nonsense."
    "Based on its own domestic resources, China has successfully addressed the problem of feeding one-fifth of the world's population, which in itself is an important contribution to global food security," Zeng [Yende, PRC Ministry of Agriculture and Rural Affairs] said.
    At the 9th China-EU High-Level Economic and Trade Dialogue on Tuesday [19 July], both sides agreed to increase cooperation in the fields of global food and energy security, and jointly promote global economic and financial stability. It is expected that there will be more opportunities for China and Europe to complement each other's advantages in grain trade, Jiao said.

    "Europe mainly imports non-GM soybeans and cereals from China, and China mainly imports wheat and feed grain from Europe, so there may be more opportunities for enhancing cooperation," Jiao said. In addition, both sides could carry out cooperation in third countries to help with global food security, Zhou Rong, a senior researcher at the Chongyang Institute for Financial Studies of Renmin University of China, told the Global Times on Wednesday.

    EC | EU-China: A stable global economy is a shared responsibility, 19 July
    GACC | Vice Minister WANG Lingjun Attends the 9th China-EU High-Level Economic and Trade Dialogue | People's Daily "read out"
    "For example, China can carry out mutually beneficial cooperation with the EU through international organizations. The EU can provide farming technology while China has successful experience to adapt to developing countries," Zhou said.
    Since the beginning of this year, China has provided more than 15,000 tons of emergency humanitarian food aid to developing countries in need, said Chinese State Councilor and Foreign Minister Wang Yi at the G20 foreign ministers' meeting on July 7, Beijing Daily reported. China is the country that has donated the most funds and sent the largest number of experts to the Food and Agriculture Organization [FAO] of the UN, focused on South-South cooperation, Zeng said.
    archived food security propaganda, "transparenct" Grain Market Impacts a/o 21 Mar 2022, Millennium Challenge
    by Cat on Wed Jul 20th, 2022 at 05:19:26 PM EST
    [ Parent ]
    euractiv | EU, China hold trade dialogue, no mention of frozen pact, 19 July ie. Comprehensive Agreement on Investment (CAI)
    Most recently, the EU had voiced dismay over China's refusal to condemn Russia's invasion of Ukraine, with EU leaders calling on China in April not to "turn a blind eye" to what Russia calls a "special military operation".
    wut: "the importance of EU and China working together to help address the challenges caused by Russia's aggression against Ukraine."
    There was no mention of Ukraine and Russia or the tensions over Lithuania's move in the Chinese statement.
    wut: "I wonder where they got the information."
    In response to controversy over whether China had unilaterally invited European leaders to meet with President Xi Jinping in Beijing in November, the both the French and Chinese governments issued a firm denial.
    CGTN | China-EU trade dialogue reflects a positive tone, 20 July
    It is clear that the two sides have a lot of potential to deepen their cooperation. But this flourishing relationship has not been immune to the divisive European continental politics in the last few years. Some political forces in Europe somehow view China's development as a systematic challenge, and obligingly toe the Washington line of advancing a values-based trade agenda. They call it the "European value," as if they hold the exclusive right to these things.

    Political issues such as concerning the Xinjiang Uygur Autonomous Region and the Hong Kong Special Administrative Region, were sometimes brought to the table. Partly as a result of that, a bilateral investment treaty has been stranded in European Parliament....

    by Cat on Wed Jul 20th, 2022 at 06:53:20 PM EST
    [ Parent ]
    euractiv | Ukrainian grain barely reaches countries in need via `solidarity lanes', Commission says, 13 July
    In a joint meeting of agriculture (AGRI) and transport (TRAN) committees at the European Parliament, the EU executive told MEPs on Monday (11 July) that, despite increased exports due to the `solidarity lanes' initiative, the whole structure of exports has changed with barely any wheat reaching the final destination from Ukraine.
    "strategic" grain embargo, "safeguard," or hoarding? You be the judge.
    The initiative - a set of measures to facilitate grain exports from Ukraine to the third countries via the EU - has now been on for two months. The expected outcome was to help Ukraine export grains to the third countries - especially in Africa and the Middle East - that are highly dependent on Ukrainian [FALSE] wheat.
    [EP AGRI committee chair Norbert] Lins, who recently visited the Ukrainian-Polish border to check how 'solidarity lanes' are performing, added that only 138,000 tonnes of wheat have come through the two borders, Romania and Poland, that are now key for exports from Ukraine, with barely anything reaching the final destination - third countries where the food crisis is especially severe.
    Lins, who recently visited the Ukrainian-Polish border to check how `solidarity lanes' are performing, added that only 138,000 tonnes of wheat have come through the two borders, Romania and Poland, that are now key for exports from Ukraine, with barely anything reaching the final destination - ["]third countries["] where the food crisis is especially severe.
    As for now, in the export structure maize ["corn"] has been prioritised over wheat [!], as the majority of wheat in Ukraine is stuck in silos, in ports or on occupied territories. "In those circumstances, traders and farmers in Ukraine are focusing on what they can move. And that's maize [!]",  Michael Scannell, deputy Director-General at the Commission's agricultural service (DG AGRI)....
    There's this thing about liars ...
    archived GM Feed to Replace Corn From Ukraine, coarse grain outlook, Zelenskyy rejects the idea of a "grain corridor" through Belarus, Crop Calendars and Stock-to-Use Ratios,  concern trolls
    by Cat on Wed Jul 20th, 2022 at 07:51:38 PM EST
    [ Parent ]
    Sri Lanka Guardian | Real debt trap: Sri Lanka owes vast majority to West, not China, 14 July
    The top holders of the Sri Lankan government's debt, in the form of international sovereign bonds (ISBs), are the following firms:

    • BlackRock (US)
    • Ashmore Group (Britain)
    • Allianz (Germany)
    • UBS (Switzerland)
    • HSBC (Britain)
    • JPMorgan Chase (US)
    • Prudential (US)

    The Asian Development Bank and World Bank, which are thoroughly dominated by the United States, own 13% and 9% of Sri Lanka's foreign debt, respectively.

    debt by lender
    src:Sr Lanka | Foreign Debt Summary (as of end April 2021)

    [SAMANTHA POWER] calls on China to restructure Sri Lanka's debt, 27 July

    The government is in the process of preparing a debt restructuring plan, a condition for a rescue package it is negotiating with the International Monetary Fund. China, which accounts for 10% of Sri Lanka's debt, has resisted offering a debt cut.
    debt by currency
    ORF | Fallacies in Sri Lanka's external debt patterns, 21 June
    Even though Sri Lanka's foreign debt-to-GDP ratio has witnessed reductions over the last two decades, the change in the total structure of the external debts have made the economy more at risk of currency crises in the last few years. As the nation became a middle-income country, the access to concessionary funding became scarce, and the Sri Lankan economy shifted towards an increasing proportion of commercial loans in its external debt structure. These commercial loans were mostly in the form of International Sovereign Bonds (ISBs)--instruments of capital market borrowings, and carried interest rates that were high (above 6 percent) with shorter durations of repayment (5-10 years) and no grace period. In 2007, the country issued its first ISB worth US$500 million, followed by large rounds of borrowing from international capital markets in the form of ISBs. From 2004 to 2019, the country's commercial loans have increased from 2.5% to 56 percent  of its total foreign loans, respectively (see figure 1), thereby, increasing the macroeconomic instability.
    debt by maturity
    Secondly, the capital inflows from China into Sri Lanka calls for a more detailed introspection before the two countries agree upon any more loan terms in the forthcoming years, especially in the context of Sri Lanka's participation in the Chinese Belt and Road Initiative (BRI). The 2017 Hambantota port episode bears testimony to how Sri Lanka is a victim of China's vicious `debt-trap diplomacy'. According to the official records, while China makes up 9.83% (US$3.4 billion) of Sri Lanka's total foreign debt as of 2019, China's liquidation techniques [!] and hidden debts [!] in various projects also exhibit the outcomes of economic imperialism shown by Beijing that are problematic for the Sri Lankan economy.
    Although a healthy amount of sovereign capital inflow is expected to bolster the economic growth of nations; but for Sri Lanka the sovereign debts (for example the multiple IMF bailouts) were mainly used to save the economy from the successive BOP precarities in the past. Given the wreck the Sri Lankan economy is facing, the impact of the COVID-19 pandemic on the global economy, and most importantly the low sovereign credit ratings for the Sri Lankan economy will make it extremely difficult for Sri Lanka to be on the lookout for commercial borrowings from foreign sources in the near future.
    Helmer | Rajapaksa's Flight to RU, IN, GE Capital Aviation Service d/b/a AerCap.ie, 27 July
    The painful reforms are a prerequisite to sealing a $3bn bailout from the IMF, which would unlock another $4bn in financing from the World Bank and the Asian Development Bank. But the severity of the crisis means that Sri Lanka is also seeking up to $1.5bn from its biggest bilateral backers -- China, India and Japan -- in bridge financing to immediately resume imports of fuel and gas." This is a signal that Japan, with US backing, will not allow Wickremesinghe to pursue bilateral terms with Beijing, Delhi, or Moscow.
    by Cat on Wed Jul 27th, 2022 at 10:49:29 PM EST
    [ Parent ]

    This is the best image from elections today, wish all the politicians of our country express this tolerance, respect  and acceptance for each other.

    Netizens love the `sportsmanship' shown by Salman Naeem as he hugged Zain Qureshi, accepted PP-217 defeat gracefully

    'Sapere aude'

    by Oui (Oui) on Mon Jul 18th, 2022 at 10:13:16 AM EST

    'Sapere aude'
    by Oui (Oui) on Mon Jul 18th, 2022 at 10:14:19 AM EST
    So goes the nation?
    by Cat on Mon Jul 18th, 2022 at 01:57:55 PM EST
    [ Parent ]

    'Sapere aude'
    by Oui (Oui) on Mon Jul 18th, 2022 at 05:09:00 PM EST
    [ Parent ]

    Imran Khan urged Chief Election Commissioner (CEC) Sikander Sultan Raja to resign, claiming that his party won the Punjab by-polls despite the use of state machinery in PML-N's favour.

    The PML-N bagged just 4 seats in the Punjab by-election, but all of Twitter's memes are dedicated to Maryam Nawaz

    'Sapere aude'

    by Oui (Oui) on Mon Jul 18th, 2022 at 05:10:13 PM EST
    [ Parent ]
    KSE-100 plummets by more than 700 points

    The benchmark KSE-100 index plunged by more than 700 points [1.68%] on Monday, with analysts attributing the development to the political uncertainty arising out of the outcome of the Punjab by-polls held a day earlier and the rupee losing ground against the dollar.

    'Sapere aude'

    by Oui (Oui) on Mon Jul 18th, 2022 at 05:11:29 PM EST
    [ Parent ]
    If Mr Market disapproves, the means Khan is on the "right side of history". Unlike Suga WHO? and Kishida.
    by Cat on Mon Jul 18th, 2022 at 05:23:35 PM EST
    [ Parent ]
    Elahi suffers shock defeat as Hamza retains Punjab CM position after deputy speaker's contentious ruling, 22 July

    PTI candidate Parvez Elahi, 187 (- 10)
    PML candidate Hamza Shehbaz, 179

    Deputy Speaker Dost Mohammad Mazari rejects 10 PML-Q members' votes for PTI candidate, because they contradicted PML party head Chaudhry Shujaat Hussain's voting instructions: "As party head of Pakistan Muslim League, I have issued directions to all my provincial members to cast their votes in favour of Muhammad Hamza Shehbaz Sharif".

    PTI is appealing the speaker's ruling today in Supreme court.

    by Cat on Sat Jul 23rd, 2022 at 04:43:49 PM EST
    [ Parent ]
    Dawn | [Supreme Court] voids Hamza election, Elahi is new CM, 27 July
    late on Tuesday declared Chaudhry Parvez Elahi as the duly elected chief minister of Punjab for securing 186 votes against the 179 of his opponent, PML-N's Hamza Shehbaz, in the July 22 run-off poll for the coveted office of the province.
    Authored by the CJP, the short order also ordered the Punjab chief secretary to immediately issue the requisite notification declaring the petitioner as the duly elected CM. It added that Hamza Shehbaz was not a duly elected CM, the oath of office administered to him was without lawful authority and of no legal effect.

    Moreover, all acts, deeds and things attendant and consequent upon the oath, including but not limited to the notification of Hamza and the formation and swearing-in of the cabinet on his advice, was also declared to be without lawful authority and of no legal effect.

    Similarly, all advisers, special advisers and special assistants appointed under the orders or advice of Hamza would immediately cease to hold office, their appointment declared illegal and without lawful authority and the ministers appointed on his advice were relieved of their offices/posts with immediate effect, the 11-page order stated.

    by Cat on Wed Jul 27th, 2022 at 11:42:23 PM EST
    [ Parent ]

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