Pakistan facing bankruptcy

Pakistan facing bankruptcy

www.telegraph.co.uk

Officially, the central bank holds $8.14 billion (£4.65 billion) of foreign currency, but if forward liabilities are included, the real reserves may be only $3 billion - enough to buy about 30 days of imports like oil and food.

Nine months ago, Pakistan had $16 bn in the coffers.

(visit the link for the full news article)

This seems like a disaster that could tip the chaos up a few notches. This could set off a world war.

My idea: "Sure, will trade ya 100 billion for your nukes?"

I could only find one source. Looking for additional info.

Which is more dangerous? Iran with no bomb or a bankrupt Pakistan with nukes?



www.telegraph.co.uk
(visit the link for the full news article)

I am curious if their new Chinese friends will bail them out.

Really don't know what will happen if they go down, I know the controlcenter of foreign resources would like Musharraf back

well the Chinese hackers don't seem to want to leave me alone today.

img137.imageshack.us...

my firewall is busy...

[edit on 7-10-2008 by Grey Magic]

modds please delete, triple post

[edit on 7-10-2008 by Grey Magic]

Yellow, what is more scary a bankrupt us armed with NBC weapons or Iran with none. And seeing that the US has now got the begging bowl in hand where will you get a 100 billion from.

www.presstv.ir...

Pakistan's foreign exchange reserves have hit so low that the country can only afford one month of imports and faces possible bankruptcy.

President Asif Ali Zardari told the Wall Street Journal that Pakistan needed a bail out worth $100 billion from the international community to overcome the nation's economic crisis and to fight terrorism.

www.thenational.ae...
Zardari is facing scepticism at home about his strategy to overcome security issues and an economic crisis.

Only a month after his election as Pakistan’s president, Mr Zardari risks losing the support of politicians from within his own ruling coalition.

Mr Zardari is due to convene a joint session of parliament today for a rare briefing from army and intelligence chiefs on the military operations against pro-Taliban militants. The closed-door session comes as Pakistani politicians have come under increasing threat of assassination, the United States has stepped up missile strikes on Pakistani soil and the economy needs a multi-billion-dollar international cash injection to save it from bankruptcy.

www.theglobeandmail.com...

The latest attack provided a further blow to the fragile democracy in Pakistan, which is struggling to cope with an Islamist insurgency and an economic crisis that has pushed the country to the brink of bankruptcy.

Pakistan's security forces are fighting a fierce battle with Taliban militants in Bajaur, a part of its Federally Administered Tribal Area (FATA) that runs along the Afghan border, and in Swat, a valley in the northwest, after efforts to seek peace deals with the extremists collapsed.