International Monetry Fund
The Indian Army responded to Pakistan to terrorist attacks that would be remembered by generations. Recently, the weapons of the Indian Army rained as death on Pakistani terrorists and army bases. However, now a new twist has come in this war that started between India and Pakistan and both countries announced the ceasefire on Saturday evening. Now the army of both countries will not attack anyone. In this attack of India, terrorists in Pakistan have been eliminated. Along with this, Pakistan’s economy, which is already gasping, has also started licking dust. Pakistan, who reached the verge of Kangali, waste and destruction, is once again in the discussion with $ 1 billion loan. At the same time, the International Monetary Fund has also faced criticism for Pakistan to conduct loans in the midst of this war.
IMF’s strict criticism
In the midst of deadly terrorist attacks in Pahalgam in Kashmir and increasing enmity between India and Pakistan, Pakistan is facing a sharp criticism to the International Monetary Fund (IMF) to approve the amount of $ 1 billion. The total payment under the program approved on Friday under the Extended Fund Facility (EFF) has increased to 2.1 billion dollars. Along with this, IMF approved an amount of $ 1.4 billion under flexibility and stability facility (RSF), which aims to clearly help Pakistan to deal with climate -related weaknesses. But there has been a sharp reaction at the time of this announcement, not only by Indian officials and strategic experts but also from the region and beyond people who say that this step can weaken efforts to reduce stress. Significantly, India avoided voting at the IMF Executive Board meeting, which reflects its opposition within the limits of the IMF protocol. Unlike the United Nations, where countries can vote ‘not’, members of the IMF board can only vote in favor or stay away from voting – there is no mechanism for formal rejection.
India made a distance
By choosing the option to stay away from voting, India indicated strong disagreement and used an opportunity to issue formal objections. In a statement after voting, the Finance Ministry said that funds of funds were lacking in moral security measures, warning that functions coming from multilateral institutions like IMF could be converted to fund military or terrorist activities. The ministry further stated that these concerns ‘shared by several member countries’ indicate widespread discomfort within the global community.
IMF criticism
Indian diplomats and people of foreign policy argue that loan acceptance sends wrong signals at an important time. Former Foreign Secretary Kanwal Sibal called the decision an ‘terrible approach’, and said that the rule of IMF is tilted in favor of Western powers and lacks accountability. Well-known election analyst Yashwant Deshmukh further said that IMF ‘hands are with blood.’ Similarly, Sushant Sarin of the Observer Research Foundation said that this fund is ‘strengthening’ the military establishment of Pakistan, not to reduce its impact or encourage improvement. India has long argued that IMF support to Pakistan is regularly misused. Over the last 35 years, Pakistan has entered 28 IMF programs, including four in the last five years, which is very low to show as structural reforms or permanent economic stability. Jammu and Kashmir Chief Minister Omar Abdullah also questioned the logic of the global community and asked how the IMF is essentially ‘reimbursement of Pakistan’ for attacks on Indian cities, how can tension be expected to decrease.