This is not the right time to give loans to Pakistan, India had expressed concern in front of the IMF – Not against Pakistan receiving the imf development fund but it was not the right time nirmala sitharaman too formally conveyed

In early May this year, India raised strong objections when Pakistan was given loans by the International Monetary Fund (IMF). India had said that the country’s record is poor and it misuses funds for cross border terrariism. India had avoided IMF voting on Pakistan’s loan programs citing terrorism concerns. But despite India’s strong opposition, the IMF Executive Board approved the first review of its $ 7 billion program with Pakistan. This cleared the $ 1 billion fund from the IMF for Pakistan.

Senior government sources have clarified that although India is theoretically not opposing the funds being received by Pakistan for development, it was not the right time to lend due to the current geopolitical environment. A senior source said, “We are not against Pakistan’s IMF Development Fund, but this was not the right time due to the situation on the border.”

Finance Minister shared this concern with IMF’s MD

The official said that Finance Minister Nirmala Sitharaman had recently formally told IMF managing director Christalina Georgree to Milan’s visit to Milan. During the journey, Sitharaman had bilateral discussions with his counterparts from Germany, Italy and France. At the same time, India’s objections were repeated on the IMF loan package prescribed for Pakistan. After this, India avoided voting on the matter during the IMF Executive Board meeting.

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Whenever IMF gave a loan, Pakistan has procured weapons in the same year

India also pointed to the IMF’s own historical figures. The source said, “IMF was told that its own figures also show that whenever IMF has given loans to Pakistan, the purchase of weapons towards Pakistan has increased in the same year.”