Pakistan fighting with India got Sanjeevani from IMF, where does money come from and who is the biggest borrower?

New Delhi: The International Monkey Fund (IMF) has taken a major decision amid the ongoing tension between India and Pakistan. The IMF on Friday approved the release of about one billion USD to Pakistan immediately. The Prime Minister’s Office of Pakistan has claimed this. India opposed this and avoided voting in an important IMF meeting. India said that Pakistan can use this fund for terrorism across the border. India said that continuously rewarding Pakistan, which promotes cross -border terrorism, sends a dangerous message to the global community. This also puts the reputation of funding agencies and donors at risk and makes fun of global values. The question arises that from where does IMF get money?

According to data up to December 2023, the IMF has about 982 billion SDRs (Special Drawing Rights) and can give loans up to 695 billion SDRs (about $ 932 billion). SDR is an asset. Its value is decided on the basis of a basket of five major currency of the world. The fund of IMF comes from three sources. It includes US dollars, euros, yuan, yen and pound. These include Member Kota, multilateral and bilateral agreements. Member Kota is a kind of fee. While taking membership, that country has to give this quota.

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Source of funding

Member Kota is the primary source of funding of this organization. The quota of a member country reflects its size and position in the world economy. For example, India’s quota is 13,114.4 million SDR, which is 2.75 percent of total percentage. Similarly, Pakistan’s quota is $ 2,031 million, which is 0.43 percent of the total contribution. America’s quota is 82,994.2 million SDRs, which is 17.42 of the total contribution. China’s quota is 30,482.9 SDR, which is 6.40 percent of the total contribution.

The new borrowing system (NAB) between the IMF and the group of members and the group of institutions is the mainstay for quota. NAB size was doubled in 2021. NAB currently contributes 364 billion SDRs or $ 489 billion to the total resources of IMF. Member countries have also committed resources through bilateral lending agreements (BBA). In the year 2020, the IMF Executive Board approved a new BBA round, which currently contributes 141 billion SDRs or $ 189 billion to the total resources of the IMF.

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How to get a loan

The number of member countries of IMF is 191. It was founded in 1944 by 44 countries. The IMF has given a loan of 1 trillion dollars to its member countries. It was established after the 1930s of 1930. IMF provides financial assistance to member countries and works with governments to ensure responsible expenses. The IMF gives many types of loans. These are given according to different needs and circumstances of countries. The IMF also gives loans to low -income countries at zero interest rate.

Pakistan has taken a loan from IMF several times while India has never taken a loan from this institution since 1993. The first member country applies for this to take a loan from the IMF. The country’s government and IMF employees then discuss economic and financial status and funding requirements. The IMF imposes a variety of conditions to give a loan. If the concerned country accepts these conditions, then the loan process is carried forward.

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Biggest debtor

Large debtors of IMF include Argentina, Ukraine, Egypt, Pakistan, Ecuador, Columbia, Angola, Kenya and Bangladesh. The South American country at the top of this list is Argentina. The economy of this country has been in crisis for many years. The IMF has a $ 40.9 billion debt on this. Ukraine, who has been caught in a fight with Russia for many years, has a $ 14.6 billion debt. Pakistan is at number four with $ 8.3 billion.