Paki bankruptcy: or Biny

Photo by Gerald;CR 2008

From Inside the Beltway:

"the Pakis are really spooked, they are broke, Zardari went to China to borrow money and got very little.  The Paki Army only has pay for the next six weeks.  The Pakis don't want to go to the IMF because the IMF requires lots of regulation and oversight, and the Paki Army would lose it's direct hold on the Paki economy. The Paki Army is their biggest employer and landlord. 
 
So, the "Friends of Pakistan" (mainly USA) had a meeting with them last week and we (Boucher) refused to write checks.  So the Pakis are off to Dubai to talk to the IMF, they won't get much without agreeing to restructure, big trouble politically.
 
What to do?  The Pakis only have $4 billion cash reserves on hand, three months worth.( censored by IATT..........xxxxxxx  XXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXX ) They might have to give up Z and U bin hiden.  Or, they can just bounce Paki Army and ISI paychecks....."

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Paki Down the tubes or produce big Z and little Biny.

The Great Game is coming to a head.

Internet Anthropologist Think Tank: $10 billion UDS Great Game.

G

Update:

Pakistan asks for emergency IMF funds to stave off bankruptcy

DEBKAfile Special Report

October 22, 2008, 5:58 PM (GMT+02:00)

Hit by the global financial crisis, Pakistan is the second country after Iceland to ask the International Monetary Fund for help against its looming balance of payments crisis. With a population of 170 million, Pakistan is also the biggest nation and the first Muslim country to turn to the IMF, troubled equally by near bankruptcy and an encroaching al Qaeda-backed Taliban insurgency.

The IMF directors in Washington are expected to approve a $4-5 bn a first aid rescue package. 
More...

We were full day ahead of DEBKA on this story. G

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