IMF's $1 Billion Loan To Pakistan Puzzles Many, Including Omar Abdullah: 'Not Sure How...'
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Last Updated: May 10, 2025, 09:21 IST
J&K CM Omar Abdullah (R) slammed the IMF, while Pakistan PM Shehbaz Sharif (L) said India's attempts failed. (File photos)
Even as many leaders globally have called for de-escalation of tensions between India and Pakistan, the International Monetary Fund has approved a fresh $1 billion loan to Pakistan. '…Not sure how the 'international community' thinks," said an appalled Jammu and Kashmir Chief Minister Omar Abdullah as he slammed the IMF.
'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," Abdullah posted on X on Saturday.
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.— Omar Abdullah (@OmarAbdullah) May 10, 2025
The IMF's decision has puzzled many, who took to social media to question the decision. 'A complex issue—foreign aid unintentionally fueling conflict, wrote X user @f1rat007. A user, @Nagetheworld, tagged US President Donald Trump and his special government employee Elon Musk to ask 'exactly, honestly what's going on?"
In a pre-dawn strike on Saturday, Pakistan launched drones and missiles, including a Fattah-1 missile, at India. This operation was referred to as Operation Bunyan Ul Marsoos by Pakistani media.
The neighbouring country has been launching swarms of drones and missiles over Jammu and Kashmir, Rajasthan and Punjab for the past two days, while resorting to heavy shelling at the LoC.
India previously expressed doubts regarding the effectiveness of IMF programs in Pakistan due to its unreliable track record and the risk of debt financing funds being diverted to support state-sponsored cross-border terrorism.
Consequently, New Delhi opposed the IMF's proposal to grant new loans amounting to USD 2.3 billion to Pakistan, arguing that these funds could potentially be misused for financing terrorism across borders.
India expressed its disapproval during the IMF board meeting on Friday, which was held to review the USD 1 billion Extended Fund Facility (EFF) lending program and to consider a new USD 1.3 billion Resilience and Sustainability Facility (RSF) lending program for Pakistan.
Although abstaining might seem passive, it was a deliberate diplomatic message based on both principle and policy.
A report in MoneyControl explained why India's abstention was not an act of neutrality, but a diplomatic rebuke couched in IMF protocol.
Swipe Left For Next Video View all Why India Abstained From Crucial IMF Voting
Pakistan Army's Grip on Economy: India expressed significant concerns regarding the extensive involvement of the military in Pakistan's economic management. The Pakistani Army's control over substantial areas of the economy through military-operated conglomerates and its considerable influence on fiscal policies was criticized by India. They contended that such dominance hampers transparency, civilian oversight, and the efficacy of reforms driven by the IMF. News india IMF's $1 Billion Loan To Pakistan Puzzles Many, Including Omar Abdullah: 'Not Sure How...'
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