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WORLD NEWS | Pakistan on brink of bankruptcy, but parties divided: Report

WORLD NEWS | Pakistan on brink of bankruptcy, but parties divided: Report

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Islamabad [Pakistan]Feb 9 (ANI): Pakistan is on the brink of bankruptcy, but political parties and the establishment believe that since the country is a nuclear power, other countries will help and eventually prevent it, according to Pakistani vernacular media

The parties also said that other countries would not allow Islamabad to disintegrate due to its strategic location and would provide loans, Pakistani vernacular media reported.

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Moreover, according to the vernacular publication Sindh Express Assar Imam, Pakistan is repeating its old habit of asking foreign powers for money. Looking back, the vernacular media says Islamabad was doing the same thing even 15 years ago.

This situation is no less than a state of insolvency where a country admits in front of other countries that it cannot repay the loan and seeks to reschedule the repayment. The only difference this time is that the default mode is not temporary, but permanent.

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The vernacular media also blamed former presidents Zulfikar Bhutto and Asif Ali Zardari, saying Pakistan was paying the price, with the former wanting to create an Islamic neighborhood and the latter wanting to strengthen trade ties with China and Iran.

The declassified documents of the United States make it very clear that the World Bank and the International Monetary Fund will be used as “weapons” of the United States to make other countries obey the foreign policy of the United States. Pakistan and the Philippines are two countries affected by this link.

The biggest hurdle Pakistan faces is the IMF. If Pakistan accepts the terms and conditions of the IMF, it loses its popularity and vote base. The dilemma for the government is that it is very difficult to run the government without accepting IMF loans. In order to obtain loans from other countries, the government had no choice but to accept harsh loan terms from the IMF. In this way, the government can postpone the time of national bankruptcy.

According to vernacular media reports, the next few years seem to be very difficult for the country, putting a big question mark over the country’s survival and future. Political parties in Pakistan do not have the will, willingness or capacity to reform and right wrongs. Also, they have no truly revolutionary parties, none with time to rise above factional rivalry and self-entanglement.

Whether it’s a democratically elected government or people who obey the military, they are constantly making policies for the benefit of the upper 1%, for their luxury and protection of their rights. Moreover, this one percent rules the country while ignoring the other ninety-nine percent.

In fact, it is a war of haves and have-nots in the country, and it has been going on. (Arnie)

(This is an unedited and auto-generated story from a Syndicated News feed, the content body may not have been modified or edited by LatestLY staff)

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