Omar Abdullah criticises IMF for approving USD 1 billion loan to Pakistan

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Ziraat Times
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Srinagar: Jammu & Kashmir Chief Minister Omar Abdullah on Saturday criticised the International Monetary Fund (IMF) for approving a new $1 billion loan to Pakistan amid rising cross-border tensions with India.

In a post on X, Abdullah said, “I’m not sure how the ‘International Community’ thinks the current tension in the subcontinent will be de-escalated when the IMF essentially reimburses Pakistan for all the ordnance it is using to devastate Poonch, Rajouri, Uri, Tangdhar & so many other places.

The IMF’s Executive Board on Friday completed its first review of Pakistan’s economic reform programme under the Extended Fund Facility (EFF), enabling an immediate disbursement of approximately $1 billion. This brings total disbursements under the EFF arrangement to around $2.1 billion, the Washington-based financial institution said in a statement.

Additionally, the Board approved Pakistan’s request for a new arrangement under the Resilience and Sustainability Facility (RSF), providing access to around $1.4 billion. The IMF noted that the 37-month EFF programme—approved on 25 September 2024—is aimed at promoting economic stability and sustainable growth, while the RSF is designed to bolster climate and disaster resilience.

India abstains, voices concern

India abstained from voting on the combined $2.3 billion IMF assistance package to Pakistan, raising strong objections over potential misuse of funds for sponsoring terrorism. In a statement, the Indian government warned that rewarding Pakistan in this manner “sends a dangerous message to the global community” and “makes a mockery of global values.”

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181 COMMENTS

  1. IMF is a business house whose purpose is to make money moreover Governments should be punished not innocent populace who are all tye time looking for to neet two end neet.
    Human aspect can be ignored on political point but not needy but greedy .

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