Poor Pakistan got loan from IMF, India did not take part in voting
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The effect of the ongoing tension between India and Pakistan is now clearly visible on international forums as well. Meanwhile, the IMF has approved the loan of Pakistan, a country promoting terrorism. In the meeting of the IMF on Friday, a new loan of $ 1.3 billion and an EFF lending program of $ 1 billion for Pakistan were discussed. India clearly refused to vote on this.
Pakistan gets loan from IMF
The International Monetary Fund on Friday approved a new loan of $ 1.3 billion to Pakistan. Let us tell you that India not only broke its silence on this, but also raised questions on Pakistan’s intentions and its financial responsibility in front of the IMF. India bluntly said that Pakistan has been continuously taking loans from the IMF. But nothing comes out of it. If the previous programs were effective, then today Pakistan would not have stood with its hands outstretched again.
Playing terrorism under the guise of loans?
India’s concern is not limited to the economy only. It says that Pakistan can misuse the money it receives from the IMF. Especially, it is possible to use this fund to fuel cross-border terrorism. Not only this, India also said that Pakistan’s army is deeply entrenched in both the country’s politics and economy. In such a situation, the hope of reform is meaningless.
Took money from IMF for 28 years in 35 years
India also exposed Pakistan through data. It told that in the 35 years from 1989 till now, Pakistan has taken funds from IMF for 28 years. From 2019 till now, it has asked for help from IMF four times. India raised the question that if the situation really improved with the earlier loan, then why is this process being repeated again and again?
Army became the boss of the investment council
India said that the biggest obstacle to reform in Pakistan is its army. Citing a UN report, India said that Pakistan’s army is running one of the country’s largest business groups. Now it is even sitting in the Special Investment Facilitation Council. In such a situation, it is almost impossible to use the funds taken from IMF in a transparent manner.
Questions raised on the role of IMF
India also said that IMF will now have to keep moral values in mind instead of just technical conditions. If such funds are used by those who spread terror, it will harm the image of donor countries and institutions around the world.
IMF has taken India’s objections on record. It has also noted India’s abstention from voting. This is a strong signal. India is now standing with a complete strategy against Pakistan not only at the military level but also on economic platforms.
