India Opposes IMF Loans to Pakistan: Concerns Over Misuse for Terrorism
India has opposed the IMF's proposal to extend USD 2.3 billion in loans to Pakistan due to concerns over potential misuse for state-sponsored terrorism. Highlighting past misuse and Pakistan's military interference in economic affairs, India abstains from voting, urging global financial institutions to consider moral values in procedures.
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The Indian government has raised objections against the International Monetary Fund's plan to disburse USD 2.3 billion in new loans to Pakistan, citing potential misuse for fostering state-sponsored cross-border terrorism. This move, announced on Friday, underscores India's reservations over aiding a country with a questionable track record on terrorism.
India refrained from participating in the crucial IMF vote on the funding, expressing doubts about the effectiveness of IMF programs given Pakistan's history and ongoing military interference in economic matters. The finance ministry emphasized the importance of ensuring these funds are not diverted for military purposes or terrorism.
With rising tensions between India and Pakistan following a terrorist attack in Kashmir, India highlighted the reputational risks to funding agencies that support Pakistan without stringent checks. It urged global institutions to prioritize moral values in their lending processes to prevent misuse of resources.
(With inputs from agencies.)
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