“Not Sure How…”: Omar Abdullah Slams IMF For $1 Billion Loan To Pak

New Delhi:

Jammu and Kashmir Chief Minister Omar Abdullah on Saturday slammed the Worldwide Financial Fund (IMF) for approving a contemporary $1 billion loan to Pakistan amid heightening tensions with India.

“I am undecided how the “Worldwide Group” thinks the present stress within the subcontinent will probably be de-escalated when the IMF basically reimburses Pakistan for all of the ordnance it’s utilizing to devastate Poonch, Rajouri, Uri, Tangdhar & so many different locations,” Mr Abdullah posted on X.

I am undecided how the “Worldwide Group” thinks the present stress within the subcontinent will probably be de-escalated when the IMF basically reimburses Pakistan for all of the ordnance it’s utilizing to devastate Poonch, Rajouri, Uri, Tangdhar & so many different locations.

— Omar Abdullah (@OmarAbdullah) May 10, 2025

The IMF on Friday stated its Govt Board concluded the preliminary evaluation of Pakistan’s financial reform programme beneath the Prolonged Fund Facility (EFF) association and allowed for a right away disbursement of round USD 1 billion.

The transfer, which was made because the Pakistani military launched weapon-carrying drones and missiles at western Indian cities and army installations, introduced the entire disbursements beneath the association to the cash-strapped nation to about USD 2.1 billion.

In an announcement, the Washington-based international lender stated that Pakistan’s 37-month EFF was accepted on September 25, 2024, and “goals to construct resilience and allow sustainable progress”, with priorities together with entrenching macroeconomic sustainability.

It stated the RSF will help Pakistan’s efforts to scale back vulnerabilities to pure disasters and to construct financial and local weather resilience.

India’s Stand On IMF’s Loans To Pakistan

India on Friday stated it raised issues over the efficacy of IMF programmes in the case of Pakistan, given its “poor monitor file”, and likewise on the potential for “misuse” of debt financing funds for state-sponsored cross-border terrorism.

“Pakistan has been a chronic borrower from the IMF, with a really poor monitor file of implementation and of adherence to the IMF’s program situations. Within the 35 years since 1989, Pakistan has had disbursements from the IMF in 28 years,” the Ministry of Finance stated in an announcement.

“Within the final 5 years, since 2019, there have been 4 IMF packages. Had the earlier packages succeeded in setting up a sound macro-economic coverage setting, Pakistan wouldn’t have approached the Fund for yet one more bail-out program,” it added.

India identified that such a monitor file calls into query both “the effectiveness” of the IMF program designs within the case of Pakistan or their “monitoring or their implementation” by the nation.

“Pakistan army’s deeply entrenched interference in financial affairs poses vital dangers of coverage slippages and reversal of reforms. Even when a civilian authorities is in energy now, the military continues to play an outsized function in home politics and extends its tentacles deep into the economic system,” the assertion learn.

Tensions between India and Pakistan have soared following a terror attack in Jammu and Kashmir’s Pahalgam final month, which left 26 individuals lifeless.