Questions raised on IMF for helping Pakistan
Islamabad: Tension continues between India and Pakistan. Meanwhile, Pakistan has got a big relief from the IMF i.e. International Monetary Fund. The Prime Minister’s Office of Pakistan (PMO) said that the International Monetary Fund (IMF) on Friday approved immediate distribution of US $ 1 billion under the current extended fund facility to Pakistan. The news agency PTI said, “The decision allows about 1 billion US $ immediate distribution, which leads to a total distribution of about 2.1 billion US $.”
Questions arising on IMF’s intention
Amidst Indo-Pak tension, now the question has started to arise whether the International Monetary Fund is helping Pakistan against India? The question is also, what is the meaning of Pakistan’s financial assistance amidst Indo-Pak tension? In the current era, when Pakistan is known for nurturing terrorism and sheltering terrorists, IMF is helping it financially, which Pakistan can also misuse. Anyway, Pakistan has been accused of earlier that it uses the financial assistance received in conspiracy against India.
According to a statement issued by the Pakistani PMO, ‘Prime Minister Shahbaz Sharif expressed satisfaction over the failure of India’s arbitrary strategy by the IMF by the IMF approved the US $ 1 billion installment and against it. It states that Pakistan’s economic situation has improved and the country is moving towards development.
India had already expressed concern about misuse of loan money
India had expressed concern over the impact of IMF programs in view of Pakistan’s poor record before the approval of this loan, and also expressed concern over the possibility of misuse of loan regarding terrorism. India had opposed the IMF proposal to give a new loan of US $ 2.3 billion to Pakistan, saying that it could be misused for the financing of terrorism.
India had lodged a protest in the IMF board, in which the meeting held on Friday reviewed the expanded fund facility (EFF) loan program (1 billion US dollars) and also considered a new flexibility and stability facility (RSF) loan program ($ 1.3 billion) for Pakistan. After this, India avoided voting in an important meeting of IMF.
The Indian Finance Ministry said in a statement, “India has said that encouraging the constant sponsoring cross -border terrorism gives a dangerous message to the global community, risking the reputation of the financing agencies and donors and makes fun of global values.” India’s opposition to the IMF has come at a time when military conflict between India and Pakistan has intensified.
Which country has taken the most loans from IMF?
Argentina has the highest loan of the International Monetary Fund (IMF). Historically, Argentina has been the largest indebted to IMF for many years. (Input: PTI)
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