ISLAMABAD: Federal Minister for Economic Affairs Hammad Azhar has said that former finance minister Ishaq Dar did not know the difference between internal and external debt.
The statement of Hammad Azhar came after the tweet Ishaq Dar posted earlier against the economic performance of the incumbent government.
Ishaq Dar wrote, “PMLN’s Average External Borrowing 2013-18 @ less than 3%. PTI borrowing US$ at 13%, as Hot Money. SBP’s policy rate increased fm PMLN’s 6.25% to 13.25% in a year. Result: Debt Servicing shot up annually by Rs1600B. Monetary Policy collapsed.”
PMLN’s Average External Borrowing 2013-18 @ less than 3%. PTI borrowing US$ at 13%, as Hot Money. SBP’s policy rate increased fm PMLN’s 6.25% to 13.25% in a year. Result: Debt Servicing shot up annually by Rs1600B. Monetary Policy collapsed. Imran Niazi says “Economy Stabilised”
— Ishaq Dar (@MIshaqDar50) January 2, 2020
He further wrote, “‘Imran Niazi says “Economy Stabilised'”
In this regard, Hammad Azhar posted a tweet, “He does not know the difference between internal and external debt and interest associated with each one. The thing he is calling as ‘hot money’ is rupee-denominated and plugs in the internal borrowing requirement. No wonder they left the economy near default.”
He doesnt know the difference between internal and external debt and interest associated with each one. The thing he is calling as ‘hot money’ is rupee denominated and plugs in the internal borrowing requirement.
No wonder they left the economy near default. https://t.co/2HXYxoAARz— Hammad Azhar (@Hammad_Azhar) January 2, 2020
Read more: Govt returned around $10.5 billion loans: Hammad Azhar
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