
IMF Approves $1 Billion Loan for Pakistan Despite India’s Strong Objection
Washington DC [US], May 10: The International Monetary Fund (IMF) has approved the first review of Pakistan’s economic reform program under the Extended Fund Facility (EFF), unlocking a disbursement of approximately USD 1 billion. However, the move has drawn strong criticism from India, which warned that supporting a state that sponsors cross-border terrorism carries reputational risks for global institutions.
In a post on X, the IMF stated, “IMF Board approved the first review of Pakistan’s economic reform program under the EFF, enabling a disbursement of ~ $1 billion, reflecting strong program implementation which has contributed to continuing economic recovery.”
India’s objection was registered during the IMF’s review of both the USD 1 billion EFF and a proposed USD 1.3 billion Resilience and Sustainability Facility (RSF). According to sources, India abstained from the vote, not due to silence but because the IMF’s rules prohibit a formal “no” vote. Instead, New Delhi lodged a formal protest.
India raised several key concerns:
India argued that continued IMF support without accountability could undermine global norms, especially when the recipient is accused of harboring terror groups.
The IMF board, composed of 25 directors, operates on consensus, with voting power weighted by economic size. Although India voiced concerns, countries like the United States carry disproportionate influence in such decisions.
India reiterated its call for global institutions to align financial decisions with moral responsibility and international security considerations, especially when evaluating countries with poor governance and a history of terrorism sponsorship.
Actor Mithun Chakraborty has seemingly let a major secret slip about Jailer 2, confirming that…
The death of Peng Peiyun, a former senior official who once headed China’s Family Planning…
A fun family reel featuring Rupali Ganguly’s mother, Rajani Ganguly, has taken social media by…
Thailand has issued an official clarification following international criticism over the demolition of a Lord…
The release of Sarvam Maya has sparked lively discussions on social media, with many viewers…
The much-anticipated romantic drama Tu Meri Main Tera Main Tera Tu Meri finally released in…