Haqqani asks why foreign governments are ignoring crisis in Pakistan

October 31st, 2008 - 12:09 pm ICT by ANI  

Washington, Oct 31 (ANI): Pakistani Ambassador to the US has questioned as to why foreign governments can bail out banks in their own countries but ignore the economic meltdown in Pakistan where a financial collapse could encourage extremists and undermine the global war against terrorism.

Haqqani told the World Affairs Council this week that Pakistan needs the support of the international community in rebuilding its economy and providing hope to its people, because hope is what will help countrys elected government to defeat the extremists and terrorists that pose a threat to the future of all of us.

If Pakistans economic crisis is not resolved, if people in the worlds capitals do not understand that if they can give hundreds of billions of dollars in economic bailouts, then certainly a nation that is critical to global security also deserves international assistance in terms of being able to reshape its economy and getting back on an even keel, he added.

The Washington Times noted that Pakistan had appealed to the International Monetary Fund for emergency aid, as the governor of the central bank warned last week that the government must raise 4 billion dollar in the next 30 days to avoid an economic disaster.

The paper said Pakistan would need a total of at least 15 billion dollar over the next two years, according to some estimates.

Pakistan is also facing an inflation rate of 25 percent, the highest in 30 years. (ANI)

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