Pakistan got loan from IMF? Claim of getting one billion dollar aid, India had protested

Pakistan has claimed that the Executive Board of the International Monetary Fund has approved financial aid of $1 billion. The office of Pakistan Prime Minister Shahbaz Sharif said that satisfaction has been expressed over the approval of the loan. Let us tell you that India had opposed giving loan to Pakistan.

India strongly opposed the meeting organized by the International Monetary Fund (IMF) to give financial aid of $ 1.30 billion to Pakistan. India said that Pakistan does not use this type of financial package to improve the country's economic condition but to spread terrorism across the border.

Pakistan's past record is a testimony to this. India also decided to stay absent from the vote in the IMF regarding giving loan to Pakistan. Meanwhile, late at night, Pakistan's PMO said that the IMF has approved a loan of about one billion US dollars to Pakistan under the extended fund facility.

Questions raised on the functioning of IMF

India even said in the IMF meeting held on Friday that looking at the past attitude of Pakistan and giving it financial help despite the United Nations report, questions are being raised on the functioning of the IMF.

India said that repeatedly providing financial packages to a country spreading cross-border terrorism would send a dangerous message to the international community and would make a mockery of global values, besides tainting the image of global agencies that fund the IMF and other donors.

Pakistan exposed

• India said that the use of assistance from an international financial institution like the IMF by a country to arm its military and spread cross-border terrorism shows a serious gap in the technical and procedural formalities at the IMF. This needs to be filled urgently so that the global financial institution cannot ignore ethics during its process.
• India said that despite the elected government in Pakistan, the army has complete interference in its functioning, which has also been mentioned in the United Nations report in the year 2021. The army of Pakistan runs business there and influences all types of economic policies. Despite receiving continuous financial packages, the economic condition of Pakistan is getting worse instead of improving.
• Its debt burden is constantly increasing. Pakistan has been taking financial packages from the IMF for the last 28 years and yet its economic condition is very pathetic. Despite this, giving it a package raises questions not only on the IMF but also on its monitoring.

PC:Jagran