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Islamabad deserves debt relief from all creditors urgently, says economist Pakistan’s debt situation has been worsening since 2008, but deteriorated at speed never witnessed since 2019 ISLAMABAD: Several low-income countries (LICs) including Pakistan face severe debt crisis and deserve to receive debt relief from bilateral, multilateral and private creditors urgently. Pakistan’s renowned economist Dr Ashfaque Hassan Khan, who is currently serving at the National University of Sciences & Technology (NUST), has come up with a detailed research work titled ‘Sinking in debt: A framework for debt relief for low income countries’ and argued that Pakistan’s current debt situation is far worse than many of the LICs and hence it deserves to receive debt relief urgently. Pakistan’s debt situation has been worsening since 2008, but deteriorated at a speed never witnessed before since 2019. Pakistan’s external debt and liabilities have been growing at differing pace since 2000. They grew at an average rate of 1.4 per cent per annum during 2000-2007; the pace accelerated to 6.2pc per annum during 2008-2015; the pace further accelerated to 8.6pc per annum during 2016-2023. By December-end 2023, Pakistan’s external debt and liabilities stood at $131.4 billion – rising from $36.5 billion in 2000. In other words, Pakistan added almost $95 billion external debt and liabilities in just 23 years as against $37.1 billion in the last 53 years prior to the year 2000, that is, since independence in 1947. More importantly, Pakistan added $66.4 billion in total external debt and liabilities of $131.2 billion or 51pc during the two lost decades (Decades of the 1990s, and 2008-18). Public debt, on the other hand, is influenced by the size of the budget deficit, rate of depreciation of the currency and interest rate. Like external debt and liabilities, the rise in public debt exhibited different pace since the year 2000. Public debt grew at an average rate of 8pc per annum during 2000-2007; accelerated at the rate of 16.5pc per annum during 2008-18; and grew at a dangerously high level of 21.3pc per annum during 2019-2023. Devaluation of Pakistani currency and the persistence of unprecedentedly high interest have contributed enormously to the rise of public debt in Pakistan. With rise in public and external debt over the years, especially during the last five years (2019-2023), Pakistan’s debt servicing liabilities has turned out to be far worse than the many LICs. Devaluation and the persistence of keeping interest rate high have created serious budgetary problems for Pakistan, especially during the last five years. Interest payment as percentage of total revenue continued to surge since 2018-19. It was 28.7pc in 2017-18 but increased to 42.7pc in 2018-19 and further reached to an all-time high at 59.1pc by 2022-23. In other words, almost 60pc revenue (tax and non-tax revenue combined) was consumed by one budgetary item, that is, interest payment. With respect to tax revenue only, interest payment was almost 34pc in 2017-18 but surged to 72.8pc by 2022-23. In other words, Pakistan consumed almost three – fourth of its tax revenue for interest payment. More alarmingly, interest payment alone reached over three times the development expenditure and 35.3pc of total expenditure. Hence, devaluation and high-interest rate policies have seriously affected Pakistan’s economy and made Pakistan even far worse in the comity of developing countries in general and in LICs in particular as externally debt distress country, he added. He suggested that bilateral Creditors may suspend their debt repayment for 10 years. Besides, it is proposed that they may enter into various debt swap arrangements with the eligible countries. This will be a great help for the eligible LICs because instead of repaying principal and interest in foreign currency, they will be using these monies for budgetary purposes to spend on education health, climate change and improving other social indicators.Cities Across the U.S. Banned Homelessness After Supreme Court Rulingcasino games south africa 。

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Attendees call Yuewen Music Festival a disasterSANTA CLARA, Calif. (AP) — De'Vondre Campbell's decision to quit on his team in the middle of a game overshadowed the bigger issues for the San Francisco 49ers. An offense that was one of the most dynamic in the NFL during a run to the Super Bowl last season has been just ordinary for most of 2024 and was downright bad in a 12-6 loss to the Los Angeles Rams on Thursday night that just about ended San Francisco's playoff hopes. San Francisco (6-8) was held to its fewest yards (191) in a regular-season game in eight seasons under coach Kyle Shanahan and its fewest points since Shanahan's debut in 2017 on a rainy night that will be remembered mostly for Campbell walking off the field in the middle of the game with a towel draped over his head. The game also featured San Francisco going three-and-out on four drives as Brock Purdy struggled to connect with his receivers. Deebo Samuel dropped a potential touchdown pass after complaining earlier in the week about a lack of touches. Purdy then missed Ricky Pearsall on an underthrown deep shot in the fourth quarter before throwing an interception into the end zone that ended the Niners' comeback attempt. “I just feel like I had a lot of plays left out there that I could have made for our team,” Purdy said. “I thought the defense and special teams played so good. That’s what’s hurting me is I just feel like I failed the team. I could have been better for our offense and we could have put up more points.” Scoring has been an issue this season for the 49ers, who have been missing key playmakers like Christian McCaffrey and Brandon Aiyuk for much of the season. San Francisco is scoring 8.5 fewer points per game on offense than the Niners did through 14 games last season. What’s working Red-zone defense. After allowing touchdowns on 13 consecutive red-zone drives over the previous four games, the 49ers kept the Rams out of the end zone on all three drives that went inside the 20. What needs help Receivers. The 49ers failed to get much production from their wide receivers with Purdy going 6 for 20 for 63 yards with an INT and a 19.4 rating when targeting wideouts. Samuel had 16 yards on seven targets with the key drop. Jauan Jennings had two drops and was the target on the interception. Pearsall had one catch for 16 yards on four targets. Stock up LB Dre Greenlaw returned for the first time since tearing his left Achilles tendon in last season's Super Bowl. Greenlaw had eight tackles in the first half as he brought needed intensity and physical play that had been missing for much of the season. Stock down Campbell. The 49ers are deciding whether to waive or suspend Campbell, who lost his starting job when Greenlaw returned and then refused to play when he was needed. “His actions from the game just is not something you can do to your team or your teammates and still expect to be a part of our team,” Shanahan said. “We’re working through exactly the semantics of it right now, but we’ll handle the situation appropriately.” Injuries Greenlaw came out of the game feeling OK after leaving with soreness in his knee and Achilles tendon. He is day to day. ... S Ji’Ayir Brown (groin) and LB Dee Winters (neck) are also day to day. ... LT Trent Williams (ankle) is still trying to get back to play after missing the last four games. Shanahan said Williams' recovery has been "a lot slower than anticipated.” Key number 0 — The Niners didn't reach the red zone once all game, with their deepest penetration into Rams territory being when they reached the 27 on a third-quarter field goal drive. This marked the first time since Week 11 in 2010 that the 49ers didn't run a single play inside the opponent's 25. What’s next The 49ers visit Miami on Dec. 22. ___ AP NFL: https://apnews.com/hub/NFL Josh Dubow, The Associated Press

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Putin falsely boasts of having military alliances with 'most countries around the world'PHILADELPHIA (AP) — Jalen Hurts may sit out a potential NFC East clincher against Dallas because of the lingering effects of a concussion. Read this article for free: Already have an account? To continue reading, please subscribe: * PHILADELPHIA (AP) — Jalen Hurts may sit out a potential NFC East clincher against Dallas because of the lingering effects of a concussion. Read unlimited articles for free today: Already have an account? PHILADELPHIA (AP) — Jalen Hurts may sit out a potential NFC East clincher against Dallas because of the lingering effects of a concussion. The Eagles could also just rest Hurts to play it safe — even if he’s medically cleared ahead of Sunday’s game — and protect their franchise QB from additional injury over the final two games. Eagles coach Nick Sirianni kept quiet this week on which QB will start Sunday, in large part, of course, because of the head injury suffered by Hurts in last week’s loss to Washington that forced him into the concussion protocol. The issue was complicated by backup Kenny Pickett’s rib injury suffered in relief of Hurts in his first real game competition in nearly a year. Tanner McKee, the third-string QB, could move into a backup role — or maybe even get the start against the Cowboys. Philadelphia’s starting quarterback situation has surged past Saquon Barkley’s chase at Eric Dickerson’s season rushing record as the most intriguing talking point in the final two games. The Eagles (12-3) appear certain to win the division title — they’re two games ahead of Washington (10-5) — and a No. 2 seed in the conference no matter the quarterback headed into the playoffs. Even with an unsettled QB spot, the Eagles are are still 7 1/2-point home favorites to beat division rival Dallas, per BetMGM Sportsbook. Sirianni appreciated that quarterback depth has been a strength for the Eagles. “We feel good about that room,” he said. So why risk Hurts against the Cowboys? There’s little reason to make Hurts play only a week after absorbing a pair of blows to the head and the extra week off — maybe two if the finale against the Giants is truly meaningless — could add to his recovery time ahead of a home playoff game. The Eagles were burned in a similar situation last season when Hurts and star wide receiver A.J. Brown were both injured in the final game against the Giants with little at stake. With both players hampered by unnecessary injuries, the Eagles were dumped the next week by Tampa Bay in the NFC wild-card playoff game. The Eagles have options if Hurts is inactive. Pickett was 14 of 24 for 143 yards in relief, throwing a touchdown pass to Brown and an interception. Pickett, a first-round pick out of Pitt in 2022, went 14-10 as a starter for the Steelers before he was traded to the Eagles in the offseason. McKee was the Eagles’ 2023 sixth-round pick out of Stanford. The 6-foot-6, 231-pound quarterback has yet to take a snap in a regular-season game. He’s mostly used in practice on the scout team or in developmental periods — at best, he’ll stay late after practice to get some reps in with the top receivers. “Every week, every opportunity, it’s knowing it could be my shot, my chance,” McKee said. He could finally get that shot against Dallas. Rolling with Rush With the Cowboys out of playoff contention, the questions persist for coach Mike McCarthy about bypassing Cooper Rush for a look at Trey Lance before both QBs hit free agency. McCarthy’s answer hasn’t wavered: Rush gives Dallas the best chance to win. Rush is 4-3 since Dak Prescott’s season-ending hamstring tear after going 5-1 over two previous stints as an injury replacement. That’s 9-4 total. Half the losses came in both of Rush’s starts against Eagles – the last of five games filling in during the 2022 season and the first game this season. “The mindset is to win,” McCarthy said. “We’re going to Philadelphia to win the game.” Barkley watch Barkley leads the NFL with 1,838 yards rushing for the season through 15 games. He still needs two big outings in the final games of the season against Dallas and the New York Giants to top Dickerson and his 2,105 yards for the Los Angeles Rams in 1984. Barkley is 268 yards away from passing Dickerson for the season mark and 162 shy from becoming the ninth player in NFL history with 2,000 yards rushing in a season. He ran for only 66 yards in the first game this season against Dallas. Dallas ranks 28th in the NFL in rushing defense, surrendering 135.9 yards per contest. Philadelphia, behind Barkley’s stellar play, tops the league at 187.9 yards per game on the ground. The Eagles have already have set a team record for yards rushing in a season with 2,818, and they are within four rushing touchdowns of tying the club’s single-season mark of 32, set in 2022. Barkley needs four more rushing touchdowns to tie LeSean McCoy’s Eagles record, set in 2011 and just 33 yards from scrimmage to break McCoy’s mark of 2,146 set in 2013. Seeing double digits Star Dallas edge rusher Micah Parsons needs half a sack to reach double digits in each of his first four seasons despite missing four games with a high ankle sprain, the first injury absence of his career. Winnipeg Jets Game Days On Winnipeg Jets game days, hockey writers Mike McIntyre and Ken Wiebe send news, notes and quotes from the morning skate, as well as injury updates and lineup decisions. Arrives a few hours prior to puck drop. The 2021 AP Defensive Rookie of the Year would be the fifth player to reach 10 sacks in each of his first four seasons. The other four — Claude Humphrey, Reggie White, Derrick Thomas and Dwight Freeney – are in the Pro Football Hall of Fame. ___ AP Pro Football Writer Schuyler Dixon contributed from Arlington, Texas. ___ AP NFL: https://apnews.com/hub/nfl Advertisement Advertisement