Even though Pakistan, the stronghold of terror has been begged by the IMF. But how dangerous it is to give loans to this ‘terrorist’ of the world, India has put a picture of the world in front of the world. After the Pahalgam terror attack, tension between India and Pakistan is at its peak. The world knows that Pakistan has been a major refuge of terrorism. The kind of financial assistance that Pakistan has been getting from the International Constity, it has spent it not for the good of the people of Pakistan, but to flourish the attitude. In such a situation, India had tried to present the true picture of Pakistan before approving Pakistan’s debt in front of the IMF. Let us also tell you how India tried to convince the whole world under the IMF how dangerous it is to give loans to Pakistan?
Pakistan’s track record bad
India had expressed concern over the bailout package and program for Pakistan at the IMF Executive Board meeting on Friday. India also avoided voting during this period. Also said that Pakistan has been a debtor for a long time from IMF. Pakistan never followed the terms of IMF. Because of which his track record has been very bad. India said that due to continuous financial assistance, Pakistan has become very debt, the irony is that it is a ‘big debtor’ for IMF.
Money can be spent in spreading terror
India expressed doubt about the effectiveness of the initiatives of the IMF given the historical record of Pakistan. Apart from this, India expressed the possibility that the package from the IMF could be spent in supporting terrorism. In 1989 to 35 years, Pakistan has received a lot of debt from the IMF in 28 years. Talking about the last five years, money has been received under 4 IMF program. India said that if the previous program was successful in creating a solid macro-economic policy environment, Pakistan would not have to contact the fund for another bail-out program. The Finance Ministry release said that India said that such track records question the effectiveness or monitoring of the IMF program designs in the case of Pakistan or their implementation by Pakistan.
IMF approval
According to the announcement of Pakistan’s Prime Minister’s Office (PMO), the IMF immediately approved the distribution of $ 1 billion to Pakistan as part of the ongoing extended fund facility. An official communication from his office states that Prime Minister Shahbaz Sharif expressed satisfaction over the IMF’s approval of the $ 1 billion installment for Pakistan and the failure of India’s arbitrary strategy against it. Meanwhile, India said that in economic matters, the policy reform of Pakistan’s Army in economic matters threatens stability to a great extent. India said that even after having a elected government of common people, the army has adequate impact on both political scenario and economic decisions. According to a 2021 United Nations report, the army is also one of the largest business groups in Pakistan.
Credit is bad
India said that a dangerous message is sent to the global community by continuously rewarding the border terrorism. Due to this, the reputation of the agencies and donors who are funded also risks at risk and the mockery of global values weakens Hasravabhmic principles. Although several member countries shared apprehensions about military activities from international financial institutions like IMF and possible wrong allocation of resources for state -backed terrorism, the IMF action is interrupted by institutional protocols and technical needs.