Cyber Intrusion Sparks International Loan Debacle
Pakistan's economic affairs ministry's X account was hacked, resulting in a false loan appeal amidst rising tensions with India. The incident affected the stock market, drawing international attention. The post coincided with an IMF meeting discussing Pakistan’s financial aid package.
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On Friday, Pakistan confirmed that its ministry of economic affairs' X account was compromised, leading to the dissemination of a fabricated request for international loans. This appeal claimed to address 'heavy losses' attributed to current tensions with neighboring India.
In response to the unauthorized post, the Ministry of Information and Broadcasting released a 'FAKE TWEET ALERT,' emphasizing that the account was hacked. An official corroborated the hack, indicating efforts were underway to deactivate the account.
The rogue message, initiated by the Economic Affairs Division, called for global financial support to ease tensions stemming from the Pahalgam terror attack. The debacle temporarily destabilized Pakistan's stock market, which initially plummeted by over 6,000 points but later rebounded. This sequence of events unfolded as the IMF executive board was convening to discuss further loan disbursements to Pakistan, sparking significant scrutiny.
(With inputs from agencies.)
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