Sean
United Arab Emirates
13 June, 2006
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Nonsense
Total Rubish check CIA.gov |
M. Hameed
Pakistan
13 June, 2006
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NO KNOWLEDGE OF ECONOMICS
The author is unaware of even elementary economics. Foreign exchange reserves are never for spending like other money. Their purpose is to meet import needs in case other sources of foreign exchange (such as exports and remittances) are not enough during a certain period. If you save money for sudden illness or other family emergencies, you will not include it in your monthly home budget.
2) World Bank loans are for infrastructure projects that will increase national income on completion, such as dams, roads, railways, ports, etc. If a project will give a return on investment that is far higher than the interest charged by the World Bank, it makes sense to borrow. Otherwise, we shall have to save money for investment that will take a very long time. The companies borrow from banks for the same reason. It is simple common sense. |
N. JAVED
United Kingdom
15 June, 2006
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COME NOW, BE FAIR....
Okay, let's return the arrows back into their quiver and be pragmatic and civil about this.
Just a few years ago, we were on the cusp of an unprecedented economic Armageddon. Since then, we have not just added billions to our reserves, but also paid several billions off in loans, some ahead of schedule, which is no less than a roaring accolade to a poor emerging nation such as ours.
Further, any viable 'Rome' that will steadily and permanently sustain itself better NOT be built in a day, so steady as she goes, and she's looking good and she sails.
So more appropriately, the well meaning author may termed his article as 'We're Beating Back The Begging Bowl', as indeed we're starting to.
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