wik_a, thank you for your response. Your following statement:
he money we will be getting from IMF will be provided by other 19 countries in G20. The Indian money will go to other countries that seek IMF financial aid. So indirectly we will not be getting Indian money.
is factually incorrect. IMF has no mechanism in place to distinguish contributed funds; they don’t put watermarks on money contributed by India. All contributions go into one pool and then distributed as aid or loan to needy.
I used the word beggar to highlight a significant hypocrisy displayed by some very vocal members here on Pakwheels. It was a flagrant attempt to illicit a response.
Is USA a beggar these days when it went to China for funding?
Again, a factually incorrect statement. Many countries and countless private individuals buy T-Bonds in scheduled auctions. China is the largest buyer these days because they have enormous amount of foreign reserves that needs to be invested somewhere. They have chosen to invest it in US; that’s all. US also happen to be the largest market for their goods so investing in it seems to be a good idea.
Do you think getting financing in this capitalist economy means you're beggar?
The way our government did it; a profound yes!
Now back to my original question, put bluntly; How do you feel about taking Indian money?
I understand that it is a loan and we will pay it back, hopefully. We haven’t paid our previous loans yet; the reason we needed IMF to bail us out from defaulting on those.