Feature

Pakistan Facing Bankruptcy

by: Isambard Wilkinson, The Telegraph UK

Karachi Stock Exchange.
Pakistan faces possible bankruptcy. (Photo: Bloomberg)

    Pakistan's foreign exchange reserves are so low that the country can only afford one month of imports and faces possible bankruptcy.     Islamabad - Officially, the central bank holds $8.14 billion (£4.65 billion) of foreign currency, but if forward liabilities are included, the real reserves may be only $3 billion - enough to buy about 30 days of imports like oil and food.     Nine months ago, Pakistan had $16 bn in the coffers.     The government is engulfed by crises left behind by Pervez Musharraf, the military ruler who resigned the presidency in August. »

Chinese refugees from Guantanamo now in Albania.

Judge Orders Chinese Muslims at Guantanamo Freed

by: James Vicini, Reuters

    Washington - A federal judge on Tuesday, in a rebuke to the Bush administration, ordered the release in the United States of 17 Chinese Muslims who have been held at the U.S. military prison at Guantanamo Bay in Cuba.

    U.S. District Judge Ricardo Urbina read his ruling from the bench at a hearing to consider the appeals by the members of the Uighur ethnic group who are seeking freedom and asking to come to the United States. »

St. Regis Resort, Monarch Beach, California

After Bailout, AIG Execs Head to California Resort

by: Brian Ross and Tom Shine, ABC News

    Rescued by taxpayers, $440,000 for retreat including "pedicures, manicures."

    Less than a week after the federal government committed $85 billion to bail out AIG, executives of the giant AIG insurance company headed for a week-long retreat at a luxury resort and spa, the St. Regis Resort in Monarch Beach, California, Congressional investigators revealed today. »

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