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The IMF review approval has a total disbursement of $ 2 billion to Pakistan under a assistance program of $ 7 billion.
The Executive Board of the International Monetary Fund (IMF) has given a new loan of $ 1.4 billion (about ₹ 12 thousand crore) to Pakistan on Friday (May 9) under the Climate Regulation Loan Program.
Also, the first review of the help of $ 7 billion (about ₹ 60 thousand crore) being found under Expected Fund Facility (EFF) has also been approved. This will give Pakistan $ 1 billion (about ₹ 8,542 crore).
A total disbursement of $ 2 billion has been done under this review approval of $ 7 billion. Pakistan will not get any amount immediately from the resilience loan.
India said- funding terrorism is dangerous
Imf of imf In the meeting of the Executive Board, India expressed concern over the funding being given to Pakistan and said that Pakistan used it to spread terrorism across the border. India did not join the review opposing voting. India issued a statement saying-
Giving a continuous sponsorship to cross -border terrorism sends a dangerous message to the global community. It risks the reputation of funding agencies and donors and makes fun of global values. Our concern is that funds coming from international financial institutions like IMF can be misused for military and state -sponsored terrorist objectives.
5 big things about India’s opposition …
- The IMF has given Pakistan a loan 28 times in the last 35 years. In the last 5 years, he has got funding under 4 programs.
- If the previous programs being run in Pakistan were successful, it would not have needed another bailout.
- The records show that either the IMF programs were not properly made or they were not monitored properly or Pakistan did not implement them properly.
- Even though there is a civil government in Pakistan right now, the army has a big role in the politics and economy of the country. This can cause interruptions in improvements.
- India, citing the IMF report, said that political things are taken care of in giving loans to Pakistan. Repeated loans have increased the debt burden on Pakistan.
IMF said in its statement, issuing funds to Pakistan,
Under the Climate Rejyliens Loan Program, Pakistan has made significant progress in stabilizing the economy and restoring confidence in the midst of challenging global environment with its efforts.
Pakistan Prime Minister Shahbaz Sharif said,
India’s efforts to harm the IMF program have failed.
India had said- IMF peeps deep inside itself before giving help to Pakistan
India’s Foreign Secretary Vikram Egypt said on Thursday- I think this is a decision that the members of the (IMF) board should take deep inside themselves and see the facts.
On Thursday (May 8), a day before the IMF meeting, India’s Foreign Secretary Vikram Egypt said that the IMF board should look deeply inside itself before giving relief to Pakistan and keep in mind the facts. In the last three decades, IMF has given many major assistance to Pakistan. No programs run by it have reached a successful result.
India said- You know what are the ways of taking decisions of IMF
On Thursday, Egyptian said that India’s executive director will present the country’s side in the IMF Board meeting on 9 May. What will be the decision of the board is a different case, you know what are the methods of taking decisions of IMF. But, I think in the case of Pakistan, those people should know the facts, who open their treasures comfortably to save this country.
First review of 7 billion dollars package
Pakistan and IMF agreed to a support package of US $ 7 billion for three years in July 2024, under which new programs are to work on giving financial strength to Pakistan.
There are six reviews till the 37 -month EFF program (aid program). The next installment of about $ 1 billion is to be released on the basis of Pakistan’s performance.
Parmeshwaran Iyer was representing India in the IMF Board.
India had asked to consider, IMF refuses
India had objected to the $ 1.3 billion loans to be given to Pakistan and said that it should be considered again, as the money received to Pakistan can be used to promote terror. However, IMF refused to accept India’s request.
India is preparing to surround Pakistan all -round
India said on Friday that it would ask the Global Multilator agencies (World Bank and Asian Development Bank), including the IMF, to reconsider the funds and loans given to Pakistan, as India wants to dip the neighboring state after the brutal terrorist attack in Pahalgam on 22 April. 26 tourists were killed in the Pahalgam attack.
What does IMF executive board do?
IMF is an international institution that helps countries, advises and monitors their economy. The core team of this institution is the Executive Board. This team sees which country to give loans, which policies have to be implemented and how to work on the economy of the world.
It consists of 24 members called Executive Director. Every member represents a country or group of country. India has a separate (independent) representative. Who speaks in the IMF from India. It also sees that the policies of IMF should not harm the country. If the institution is going to give loan to a country, then give opinion on India on behalf of India.
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Read this news related to Pakistan’s economic condition …
Today’s Excellener: ₹ 21.6 lakh crore loan on Pakistan, vacant vault; 11 thousand crores were about to get, India is also going to stop
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Parameswaran Iyer will represent India in IMF Board: Board will consider giving assistance of ₹ 11,000 crore to Pakistan, meeting on 9 May
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