IMF Approves $1 Billion Disbursement to Pakistan Amidst India's Concerns
The IMF approved a $1 billion disbursement to Pakistan under its Extended Fund Facility. India raised concerns about potential misuse of these funds for state-sponsored terrorism, abstaining from voting during the meeting. Pakistan's Prime Minister expressed satisfaction, emphasizing economic improvement and development.
The International Monetary Fund (IMF) has given a nod to disburse around $1 billion to Pakistan amid ongoing tensions with India. The funds are a part of the ongoing Extended Fund Facility designed to support Pakistan's economic reform agenda.
The Washington-based lender's decision followed India's vocal opposition, raising concerns about the potential misuse of funds by Pakistan for state-sponsored cross-border terrorism. New Delhi's concerns led it to abstain from the crucial vote during the meeting.
Prime Minister Shehbaz Sharif of Pakistan welcomed the development, marking it as a step towards economic stability. The IMF agreement includes reforms like introducing a carbon levy and energy sector improvements, aiming to foster more robust and inclusive growth.
(With inputs from agencies.)
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