The IMF has approved a significant financial package for Pakistan. The IMF’s Executive Board concluded the first review of Pakistan’s economic reform program under the Extended Fund Facility (EFF) arrangement, allowing for an immediate disbursement of approximately $1 billion. This brings the total disbursements under the arrangement to about $2.1 billion. This development comes amid Pakistan’s ongoing economic challenges, with the IMF praising Pakistan’s strong program implementation, which has contributed to improving financing and external conditions, and a continuing economic recovery.India has strongly opposed providing financial assistance to Pakistan, citing the country’s continued sponsorship of cross-border terrorism. India expressed concerns that such support poses reputational risks for global institutions and undermines international norms. “Pakistan has been a prolonged borrower from the IMF, with a very poor track record of implementation and of adherence to the IMF’s program conditions. In the 35 years since 1989, Pakistan has had disbursements from the IMF in 28 years,” the Ministry of Finance said in a statement.India abstained from the IMF vote on the loan, not due to a lack of opposition, but because IMF rules do not allow a formal “no” vote. India’s stance emphasizes the need for accountability and responsibility in international financial dealings, particularly when dealing with countries that allegedly support terrorism.Find your daily dose of All Latest News including Sports News, Entertainment News, Lifestyle News, explainers & more. Stay updated, Stay informed- Follow DNA on WhatsApp.
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India-Pakistan war: J-K CM Omar Abdullah hits out at IMF for $1 billion loan to cash-strapped Pak
