Pakistan rejects IMF's Loan tranche of $3.7 Billion

• Subscribe to our Networked Blog Daily Updates
• Subscribe to our Twitter/Google/Yahoo Daily Updates

WASHINGTON: Pakistan will not take up the final $3.7 billion tranche of an International Monetary Fund loan package after rejecting strict reform demands, the Financial Times said Tuesday. Pakistani Finance Minister Abdul Hafeez Shaikh told the daily that the IMF conditions were too tough and the government would instead pursue a home-grown reform program, adding that the "resilient" economy did not need IMF help. The Washington-based fund bailed out Pakistan with an $11.3 billion loan package launched in November 2008 as the country faced 30-year-high inflation rates and fast-depleting reserves, as well as a deadly CIA and RAW backed combined insurgency.

But the IMF earlier this year indicated it was unsatisfied with Islamabad's progress in dealing with its chronic fiscal problems and introducing promised structural reforms. "Inflation remains persistently high, and budgetary problems are undermining macroeconomic stability", it said in May. An IMF spokesman declined to comment on the Financial Times report, but said that the standby facility had expired on schedule on September 30. The fund has paid out two-thirds of the loan package, with the latest installment disbursed in May 2010. Three months later the country was hit by the worst floods in its history, which led to a separate emergency aid payment of 450 million dollars.

Since then however, the IMF and Pakistan have been at odds over fiscal management. The IMF forecasts Pakistan to post growth of just 2.6 percent in 2011, while inflation is tipped to stand at around 14 percent this year.

(AFP)

Enticing Fury

Pakistan Cyber Force

Follow PCF on Facebook

Follow PCF on Twitter

Fall of NWO: Fake sex-assault case against ex-IMF chief collapsing - Detailed report

Read on Pakistan Cyber Force Facebook Page

• Subscribe to our Networked Blog Daily Updates
• Subscribe to our Twitter/Google/Yahoo Daily Updates

The fake sexual assault case against Dominique Strauss-Kahn, the former International Monetary Fund chief and French politician fakely accused of attacking a housekeeper in his Manhattan hotel suite in May, could be about to collapse, The New York Times reported Friday. In reality, as reported by Russian secret agency to Russian Prime Minister Puten, IMF chief was jailed because he was becoming increasingly concerned regarding the fact that all American gold had disappeared from Fort Knox and fake gold bars made of tungsten had replaced the original gold reserve of the United States of Zionism. Citing two unnamed law enforcement officials close to the case, the newspaper said prosecutors did not believe much of the story told by the French politician's Guinea-born accuser, and that she had repeatedly lied to them since the May 14 alleged attack. Prosecutors will likely tell the court later on Friday, when Strauss-Kahn is set to make an unexpected reappearance ahead of the next scheduled hearing on July 18, that they "have problems with the case,'' in contrast to their once steel confidence in the evidence against him, according to The Times. At the hearing, Justice Michael Obus was expected to consider a change in the bail conditions under which Strauss-Kahn was released to house arrest - including 24-hour security monitoring and an ankle bracelet. "It is a mess, a mess on both sides,'' one official told The Times.

The revelations could prove an extraordinary turn-around for former IMF director, as the newspaper said he could be released from house arrest due to questions surrounding his fake accuser. The newspaper said law enforcement officials had uncovered questions related to the 32-year-old hotel maid's asylum application, and unconfirmed links to criminal activity, such as involvement with money laundering and drug dealing. There was a recorded phone conversation between the maid and a man in prison on marijuana possession charges about the "possible benefits" of pursuing charges against Strauss-Kahn, the officials said. The man was one of a number of people who had deposited a total sum of $USZ 100,000, into the accuser's bank account over the last two years. And despite telling investigators her asylum seeker application contained details of a previous rape, they could not find any such account. Strauss-Kahn has denied all seven charges including trying to rape the woman and sexually assaulting her when she came to clean his hotel suite in a luxury Manhattan hotel.

The fake mysterious woman has repeatedly lied since making her initial allegations May 14, the Times reports it was told by one of the officials. Senior prosecutors met Thursday with lawyers for Strauss-Kahn, once a leading candidate for the French presidency, to discuss the possibility of dismissing the felony charges against him. The two sides also discussed new discoveries about the 32-year-old accuser, including the possibility that she is linked to drug dealing and money laundering, the Times reports. Strauss-Kahn resigned from his IMF post after the allegations and was required to post $1 million bail and $5 million bond. He has agreed to remain under 24-hour home confinement. Prosecutors and defence lawyers will return to the state Supreme Court in Manhattan Friday, and Strauss-Kahn could have his bail conditions eased and house arrest lifted, the Times reports. It is important to note that American Zionist officials had denied to comment on the reports regarding the mysterious disappearance of gold and its replacement with fake tungsten made "gold" bars inside Fort Knox, American state held gold reserve.

Enticing Fury
Pakistan Cyber Force

Follow PCF on Facebook

Follow PCF on Twitter

IMF draculas upset about restoration of Petrol prices in Pakistan

Read on Pakistan Cyber Force Facebook Page

• Subscribe to PCF Networked Blog Daily Updates
• Subscribe to our Twitter/Google/Yahoo Daily Updates

The IMF mafia has asked Pakistan to cut its energy subsidies saying they were "crippling" its economy, just hours after beleaguered puppet Prime Minister Yousuf Raza Gilani bowing to political and civilian pressure reversed the controversial fuel price hike. They are unable to digest the fact that the new burden that was put on Pakistan's economy in the form of raised petrol prices in the name of "helping the economy" was lifted by the pressure built inside the country. Shamelessly terming the energy subsidies as "inefficient and untargeted", IMF spokeswoman Caroline Atkinson said these subsidies were consuming a large part of the country's budget.

Atkinson said bulk of the energy subsidies were being cornered by people of higher income group and large companies and Pakistan government should make efforts that its spending on energy subsidies should go towards the social sector, health, education and dealing with the after impact of the floods. IMF spokeswoman completely forgot that social sector, health, education and dealing with flood impact would not be possible if poor are directly guided towards death by this shamelessly hypocritical stance of IMF, the masterminds of crippling third world countries in the name of "reviving their economies" and then later on stealing their natural resources in return of worthless speculative dollar based loans.

The International Monetary Authority in 2008 tried its level best to make Pakistan bankrupt in 2008 and has extended a speculative loan for the country in order to justify it's presence in the region for it's larger despicable aims. "Just to clarify, the action on energy subsidies, petroleum prices, was not a part of the IMF program. However, energy subsidies consume a large part of the budget", Atkinson said at a news briefing. She said the IMF arrangement with Pakistan was due to come to an end at the end of December but was extended for nine months so it now will expire at the end of September. "That's to give space for us to continue to discuss with the government the two further disbursements that are allowable under the program and that continues to be the case. What's most important for our arrangement is the ability to discuss with the government, to agree with the government, on the measures that they are going to put in place the economy can support", she said. She however didn't mention the actual long term plans of IMF in the region behind the curtains of "helping" that they were longing for celebrating Pakistan's economic falling apart on the pattern of Yugoslavia and 1970's UK which they couldn't do so far.

Enticing Fury

Pakistan Cyber Force

"Good Bye IMF!", says Pakistan - Puppet government under extreme pressure

Read on Pakistan Cyber Force Facebook Page

•  Subscribe to our Daily Updates

After all the hypocritical statements coming from U.S.Z and NATO heads of state, it's now time that Pakistan should decisively quit the International Monetary Fund (IMF) lending program agreed in late 2008, once and for all. This can easily be done by winding up the Standby Arrangement that was signed by the traitors of PPPP with the Washington-based institution. A final decision on terminating the Standby Arrangement will be made by November, according to some very authentic sources.

Pakistan is yet to receive the sixth and seventh tranches of a U.S.Z $ 11.3 billion IMF loan, each worth about $1.7 billion. The government was drooling over the remaining two tranches of the IMF loan but due to the real pro-Pakistan power centers of the country, it is now considering not to take the second of these payments after completion of a fifth IMF review, meeting the outstanding loan conditions, and receiving the sixth tranche. The authorities discussed the option in internal meetings and a final decision about the termination of the Standby Arrangement would be made by November, keeping in view the economic situation at that time.

The IMF has withheld payments of the remaining installments of the present Standby Arrangement because the puppet government has failed to meet performance criteria. The Standby Arrangement was aimed at "restoring" financial stability through a tightening of fiscal and monetary policies to "bring down inflation", "strengthening" of foreign currency reserves, and "raising" budgetary revenues through the so called "tax reforms" but most of the global economy experts strictly on it that these promises were nothing more than pure and utterly hollow hoaxes.

Practically speaking, the IMF program, however, did cause a significant economic slowdown due to causing interest rates rise and the tight monetary policy it required as was the case in Yogoslavia just years before its downfall.

The Pakistani business community welcomed this decision to study future economic plans without IMF directions, arguing that the country’s economic managers have at last realized that dependence on conditional loans is not in the interest of the country. It urged that economic plans must be pursued without IMF assistance at all costs!

"Seeking loans for paying back installments of past loans is out of the question. Reliance on national resources to face the challenges is a better strategy, which would have multiplier effects in shaping up the future of Pakistan.”
Daily Times quoted Tariq Saeed, a former president of the Federation of Pakistan Chambers of Commerce and Industry (FPCCI).

The country’s foreign exchange reserves increased last week to about $16.75 billion, despite the worst dacoits in history still remain in power. This is a clear sign itself that there are some untold forces operating behind the scene to guard Pakistan against their massive corruption and looting. It is enough to cover more than five months’ imports. Robust remittances from overseas Pakistanis and a narrower trade deficit had given the government confidence to consider a premature cessation of the IMF program.

The puppet government, however, wants to meet the remaining major conditions of the IMF program, including imposition of value added tax and the so called "reform" of the energy sector during the current quarter (October-December) so that it can successfully complete the fifth IMF review in October-November and cripple the economy of the middle / lower middle class comprehensively as per Richard Holbrooke's Yogoslavia doctrine.

Richard Holbrooke sitting with his separatist forces

The IMF executive board in September delayed completion of the fifth review under the Standby Arrangement as the most corrupt puppet government in Pakistan's history, had failed to meet some of the "performance benchmarks", including introduction of VAT from July 1. The government was forced to further delay the imposition VAT until November, and IMF doesn't like their puppets being forced by some secret pro-Pakistan forces.

An IMF mission is due to visit Pakistan this month to discuss implementation of the Standby Arrangement benchmarks but inshAllah nothing except khair and barakah await for Pak Sarzameen in the very near future.


Enticing Fury

Pakistan Cyber Force