How will we pay our debts now?

How will we pay our debts now?

Some people call this paying our ecological debt.

As poignantly stated by an African official, You demanded that we faithfully pay our debts, and we did.

We are grateful to several countries for cancelling some of our debt and for offers of moratoriums on repayment of debts.

Paying up all our outstanding dues and arrears is a necessary first step in this quest.

We simply cannot afford to give the reins of government to someone who will double down on trickle down.

Our external debt exceeds 4 billion, more than 3,000 of annual exports.

We reduced them through debt write off and debt relief, as well as through the method of reducing our own debts.

The first thing that put us out was that advertisement.

Because if we're serious about paying down our debt, we can't do both.

As the late Tanzanian President Julius Nyerere demanded publicly Must we starve our children to pay our debts?

Finally, our efforts in the field of good governance and the opening of our economy have been acknowledged by donors, who have cancelled our multilateral debts.

We have been able partially to service our debt since 1991, but debt servicing has now reached unsustainable levels.

This is why inflation is skyrocketing, our debt is at record levels and the government and FED are hemorrhaging new money to bailout the corrupt system.

Our country apos s external debt of 10.8 billion places us in a much worse position than any other high debt, low income country.

Now, a return to the American values of fair play and shared responsibility will help protect our people and our economy.

And the proportion of our external commercial earnings for payment of our foreign debt is nearly three times the average of the 47 least developed countries an unbearably heavy burden.

Take the money we're no longer spending at war, use half of it to pay down our debt, and use the rest to do some nation building right here at home.

Although my Government has managed to reduce the stock of external debt, debt servicing remains the most debilitating constraint on the country apos s economic development.

At this time, we would like to express our deep gratitude to friendly countries which have already undertaken measures or are in the process of so doing to reduce or cancel the debt which we owe them.

Yet our ability to meet our commitments in this area adequately is in turn affected by our participation in global trade that is, our ability to boost exports, to have access to and compete in new markets, and to enhance our earnings in order to repay our existing debts.

In Pakistan, we have adopted several modalities to do this, such as utilizing foreign grant assistance to retire our most expensive past debt, interest rate swaps, issuing property titles to the poor and the creation of a human development fund through private and public sector partnership.

Unfortunately, under the combined effects of persistent regional instability, rebel attacks on the country, a drastic reduction in external financing and the exacerbation of our foreign debt burden, the macroeconomic framework has deteriorated significantly and the momentum for the implementation of the poverty reduction strategy has been lost.

We firmly intend to pay off all of our debts, and we fully recognize that the usefulness of these policies can be measured only by mutual advantage, and that the results of any foreign policy activity, including the economic aspects, depend on the participation of others and the ability to pay, in the broad sense of the words.