Imran Khan leaves for Saudi conference saying Pakistan 'desperate' for loans

Agencies
October 23, 2018

Islamabad, Oct 23: Pakistan Prime Minister Imran Khan left for Saudi Arabia to attend an investment conference boycotted by other leaders over the death of journalist Jamal Khashoggi at the Saudi consulate in Istanbul, Turkey.

Khan told an interviewer before leaving he was concerned at Khashoggi's death but could not skip the conference because "we're desperate" for possible Saudi loans to shore up Pakistan's economy.

It is Khan's second visit to Saudi Arabia in just over a month, but he has not succeeded in securing significant financial assistance to stave off a looming balance of payment crisis.

Khan told the Middle East Eye in an interview published on Monday that he could not pass up the invitation to meet Saudi leaders again.

"The reason I feel I have to avail myself of this opportunity is because in a country of 210 million people right now we have the worst debt crisis in our history," he was quoted as saying.

"Unless we get loans from friendly countries or the IMF (International Monetary Fund), we actually won't have in another two or three months enough foreign exchange to service our debts or to pay for our imports. So we're desperate at the moment."

Finance minister Asad Umar and commerce minister Abdul Razak Dawood are accompanying Khan, a statement from Khan's office said on Monday, adding it "will give a chance to connect with those people who are interested in investing in Pakistan".

Islamabad has already asked the IMF to open negotiations for the country's second potential bailout in five years.

Khan, who took office in July, still has been seeking alternatives to the tough conditions the IMF is likely to impose for loans, limiting his vision of an Islamic welfare state.

The central bank's foreign reserves dropped this month to $8.1 billion, a four-year low and barely enough to cover sovereign debt payments due through the end of the year. The current account deficit has swelled to about $18 billion.

Khan has blamed the previous government's policies for the ballooning current account deficit.

He told the Middle East Eye that he was concerned over the "shocking" death of Khashoggi, a US resident and Washington Post columnist, after he entered the Saudi consulate in Istanbul.

"The Saudi government will have to come up with an answer… We wait for whatever the Saudi explanation is," he was quoted as saying. "We hope there is an explanation that satisfies people and those responsible are punished."

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News Network
April 26,2020

Seoul, Apr 26: A train presumed to belong to North Korean's Kim Jong-un has been spotted at a station in the state's eastern coastal town of Wonsan amid speculation about the leader's health, a US monitor said on Sunday, citing commercial satellite imagery on the region, Yonhap news agency reported.

According to 38 North-- a website devoted to analysis about North Korea, the imagery showed a train "probably belonging to Kim Jong Un parked at the Leadership Railway Station servicing his Wonsan compound since at least April 21."

"The approximately 250-metre long train, although partially covered by the station's roof, can be seen at a railway station reserved for use by the Kim family. It was not present on April 15 but was present on both April 21 and 23," it said.

"The train's presence does not prove the whereabouts of the North Korean leader or indicate anything about his health, but it does lend weight to reports that Kim is staying at an elite area on the country's eastern coast," it added.

The report came as rumours about his health have spread as Kim apparently skipped an important annual visit to the Kumsusan Palace of the Sun on the occasion of the April 15 birthday of late state founder and his grandfather, Kim Il-sung.

CNN intensified the speculation by reporting earlier last week that the United States is looking into intelligence that Kim is "in grave danger" after surgery.

Seoul officials have disputed recent media reports about Kim, saying there have been no unusual signs from the North. Some said that Kim is presumed to be staying in Wonsan for unspecified reasons.

Washington has also dismissed the reports, with US President Donald Trump calling such reports "incorrect" in a press briefing late last week.

On Saturday, other media reports stated that China has dispatched a team of medical doctors and officials to North Korea "to advise on" Kim, citing multiple unnamed people familiar with the situation.

North Korea's state media, however, has not made any mention of Kim's public activity for two weeks since he was last seen in April 11 presiding over a major party meeting, though it has reported on his handling of routine state affairs, such as sending diplomatic letters.
But not all speculation has proven to be false.

When he was absent from public for about a month in 2014, speculation arose about his health and a political crisis in the secretive state. He later reemerged with a cane and a limp reportedly after having a cyst removed from his ankle.

The 36-year-old leader is known to have various health problems apparently caused by obesity and heavy smoking. He took office as leader of the communist state after his father, Kim Jong-il, died of a heart attack in late 2011.

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News Network
February 14,2020

London, Feb 14: Five years ago Britain’s new finance minister Rishi Sunak wasn’t even a member of parliament and now he is running the world's fifth largest economy.

The 39-year-old former Goldman Sachs banker was appointed in dramatic fashion on Thursday when incumbent Sajid Javid unexpectedly quit — in a row over advisers — during what Downing Street had cast as a routine ministerial reshuffle.

Sunak is married to the daughter of Infosys co-founder NR Narayana Murthy, and was hand-picked to take over an ultra-safe seat in northern England, previously represented by former Conservative Party leader William Hague. The Murthy family was not reachable for comment.

In July, when he was promoted chief secretary to the Treasury, Murthy had said: “Our advice to our children, including Rishi, has been to work hard, be honest, and do good for society…We wish him well.”

After Thursday’s announcement, Sunak said: “Delighted to be appointed... Lots to get on with.”

Tipped for Promotion

As Boris Johnson moves to increase control of the finance ministry, one of the youngest chancellors in history will face a prime minister who wants to increase government spending on everything from infrastructure and police to health and education.

Sunak, seen as a rising star in the ruling Conservative Party since he entered Parliament in 2015, had been tipped for promotion to a senior post in the ministerial rejig as Johnson put together his post-Brexit cabinet.

But, despite an already rapid ascent through the ranks of government, few expected the Oxford University Politics, Philosophy and Economics graduate to ascend to one of the highest offices in the land.

Sunak had been serving as Javid’s deputy in the finance ministry since Johnson promoted him upon taking office in July 2019. Prior to that he had served as a junior housing minister.

“From working in my mum’s tiny chemist shop to my experience building large businesses, I have seen first-hand how politicians should support free enterprise and innovation to ensure our future prosperity,” Sunak says on his website.

Smooth and loyal

Seen as a smooth media performer and ultra-loyal member of the Conservative Party, Sunak has been used by the government to present and defend their policies in television interviews — a sign of trust from Johnson, who has a fraught relationship with Britain’s media.

Sunak takes control at a critical juncture for Britain’s $2.7 trillion economy. He will have to steer the economy through the turbulence of leaving the European Union and the forging of new trade links that will define Britain’s new relationship with the world.

However, the power struggle that forced his predecessor Javid to quit hints at a more diminished role for what is the second most powerful position in the government — with Johnson’s office wanting to centralise control and minimise dissent.

Sunak is one of the three ministers of Indian origin in Johnson’s cabinet, the other two being Priti Patel and Alok Sharma. Patel remains the interior minister after the cabinet reshuffle while Sharma, a former minister for international development, was appointed the new minister for business. Sunak’s father was a doctor and his mother ran a chemist shop. Before entering politics he worked for Goldman Sachs and a hedge fund, then co-founded an investment firm. He also has an MBA from Stanford University.

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Agencies
February 29,2020

Doha, Feb 29: The United States signed a landmark deal with the Taliban on Saturday, laying out a timetable for a full troop withdrawal from Afghanistan within 14 months as it seeks an exit from its longest-ever war.

President Donald Trump urged the Afghan people to embrace the chance for a new future, saying the deal held out the possibility of ending the 18-year conflict.

"If the Taliban and the government of Afghanistan live up to these commitments, we will have a powerful path forward to end the war in Afghanistan and bring our troops home," he said on the eve of the event in Doha.

Secretary of State Mike Pompeo arrived in the Qatari capital to witness the signing of the accord, while Defence Secretary Mark Esper was in Kabul for a separate joint declaration with the Afghan government.

The agreement is expected to lead to a dialogue between the Kabul government and the Taliban that, if successful, could ultimately see the Afghan war wind down.

But the position of the Afghan government, which has been excluded from direct US-Taliban talks, remains unclear and the country is gripped by a fresh political crisis amid contested election results.

The United States and its allies will withdraw all their forces from Afghanistan within 14 months if the Taliban abide by the Doha agreement, Washington and Kabul said in a joint statement.

After an initial reduction of troops to 8,600 within 135 days of Saturday's signing, the US and its partners "will complete the withdrawal of their remaining forces from Afghanistan within 14 months... and will withdraw all their forces from remaining bases", the declaration stated.

The Doha accord was drafted over a tempestuous year of dialogue marked by the abrupt cancellation of the effort by Trump in September.

The signing comes after a week-long, partial truce that has mostly held across Afghanistan, aimed at building confidence between the warring parties and showing the Taliban can control their forces.

NATO Secretary General Jens Stoltenberg heralded the agreement as a "first step to lasting peace".

"The way to peace is long and hard. We have to be prepared for setbacks, spoilers, there is no easy way to peace but this is an important first step," the Norwegian former prime minister told reporters in Kabul.

Since the US-led invasion that ousted the Taliban after the September 11, 2001 attacks, America has spent more than $1 trillion in fighting and rebuilding in Afghanistan.

About 2,400 US soldiers have been killed, along with unknown tens of thousands of Afghan troops, Taliban fighters and Afghan civilians.

The insurgents said they had halted all hostilities Saturday in honour of the agreement.

"Since the deal is being signed today, and our people are happy and celebrating it, we have halted all our military operations across the country," Taliban spokesman Zabihullah Mujahid told AFP.

Close to 30 nations were represented at Saturday's signing in the Qatari capital.

While Kabul will not be represented at the Doha ceremony, set for 1245 GMT, it will send a six-person taskforce to the Qatari capital to make initial contact with the Taliban political office, established in 2013.

Any insurgent pledge to guarantee Afghanistan is never again used by jihadist movements such as Al-Qaeda and the Islamic State group to plot attacks abroad will be key to the deal's viability.

The Taliban's sheltering of Al-Qaeda was the main reason for the US invasion following the 9/11 attacks.

The group, which had risen to power in the 1990s in the chaos of civil war, suffered a swift defeat at the hands of the US and its allies. They retreated before re-emerging to lead a deadly insurgency against the new government in Kabul.

After the NATO combat mission ended in December 2014, the bulk of Western forces withdrew from the country, leaving it in an increasingly precarious position.

While Afghans are eager to see an end to the violence, experts say any prospective peace will depend on the outcome of talks between the Taliban and the Kabul government.

But with President Ashraf Ghani and rival Abdullah Abdullah at loggerheads over contested election results, few expect the pair to present a united front, unlike the Taliban, who would then be in a position to take the upper hand in negotiations.

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