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Omar Abdullah has criticized the IMF for approving $ 1 billion loans to Pakistan amid increasing tension with India. New Delhi expressed concern over the effectiveness of IMF programs for Pakistan, citing its poor track records and “misuse” of money.
New Delhi:
Jammu and Kashmir Chief Minister Omar Abdullah on Saturday slammed the International Monetary Fund (IMF) to make a fresh sanction $ 1 billion loan to Pakistan Between increasing tension with India.
“I am not sure how the” international community “wonders that the current tension in the subcontinent will be extended when the IMF essentially reimburse Pakistan to Pakistan, which is using for all ordinances, which is using Poonch, Rajouri, Uri, Tangdhar and many other places to destroy,” Mr. Abdullah posted on X.
I am not sure how the “international community” wonders that the current tension in the subcontinent will be increased when the IMF essentially reimburses Pakistan, which is using for all ordinances that are using to destroy Poonch, Rajouri, Uri, Tangadh and many other places.
– Umar Abdullah (@omarabdullah) May 10, 2025
The IMF said on Friday that its Executive Board concluded the initial review of Pakistan’s Economic Reform Program under the provision of extended Fund Facility (EFF) and allowed for immediate recreation of about 1 billion USD.
This step that was made as Pakistani military started weapons carrying drones and missiles In western Indian cities and military establishments, the total disbursements under the system of the cash-street country reached around 2.1 billion USD.
In a statement, the Washington -based global lender stated that Pakistan’s 37 -month EFF was approved on September 25, 2024, and “to create flexibility and enabling permanent growth”, which includes wide macroeconomic stability.
It said that RSF would support Pakistan’s efforts to reduce weaknesses for natural disasters and to create economic and climate flexibility.
India’s stand on IMF loan to Pakistan
India said on Friday that it expressed concern over efficacy IMF program in Pakistan’s caseGiven its “poor track record”, and also on the possibility of “misuse” of the loan financing fund for the border cross-border terrorism.
The Finance Ministry said in a statement, “Pakistan has been a longer borrower from the IMF, with a very poor track record of implementation and adherence to IMF program conditions. In 35 years since 1989, Pakistan has been recited from IMF in 28 years.”
“In the last 5 years, since 2019, there have been 4 IMF programs. The previous programs were successful in putting a sound macro-economic policy in the atmosphere, Pakistan would not have approached the fund for another bail-out schedule yet,” he said.
India reported that such a track record questioned the “effectiveness” of the design of the IMF program in Pakistan’s case or in the case of their “monitoring or implementation” by the country.
“There are significant risks of Pakistan’s Army’s Army’s in -depth intervention and reversal of reforms. Even when a civilian government is now in power, the army plays an external role in domestic politics and increases its tent in the economy,” a statement said.
Tension has increased between India and Pakistan Terrorist attack in Pahgam in Jammu and Kashmir Last month, 26 people were killed.
