Nationalist Post

The National Post

Reading: IMF approves $1 billion loan for Pakistan, claims Prime Minister’s Office
Share
Font ResizerAa

Nationalist Post

The National Post

Font ResizerAa
Search
© 2024 NM Media. All Rights Reserved.
World

IMF approves $1 billion loan for Pakistan, claims Prime Minister’s Office

Admin
Last updated: May 9, 2025 11:44 pm
Admin 9 hours ago
Share
IMF approves $1 billion loan for Pakistan, claims Prime Minister’s Office
SHARE

Islamabad: The International Monetary Fund (IMF) on Friday approved the immediate disbursement of about USD 1 billion to Pakistan under the ongoing Extended Fund Faci­li­ty, the Prime Minister’s Office (PMO) here said.

“Prime Minister Shehbaz Sharif expressed satisfaction over the approval of a USD 1bn dollar instalment for Pakistan by the IMF and the failure of India’s high-handed tactics against it,” according to a statement issued by his office.

India earlier raised concerns over the efficacy of IMF programmes in the case of Pakistan, given its poor track record, and also on the possibility of misuse of debt financing funds for state-sponsored cross-border terrorism. New Delhi opposed the IMF’s proposal to extend fresh loans of USD 2.3 billion to Pakistan, saying they could be misused for financing state-sponsored cross-border terrorism.

Also Read

G7 nations call for immediate India-Pakistan de-escalation amid rising tensions

Earthquake measuring 4.0 at Richter Scale hits Pakistan, no damage or loss of life reported

Double blow for Pakistan: Baloch rebels intensify attacks against Pakistani forces after India launches Operation Sindoor

India registered its protest at the board of IMF, which met on Friday to review the Extended Fund Facility (EFF) lending programme (USD 1 billion) and also considered a fresh Resilience and Sustainability Facility (RSF) lending programme (USD 1.3 billion) for Pakistan.

New Delhi abstained from voting at the crucial IMF meeting.

India pointed out that rewarding continued sponsorship of cross-border terrorism sends a dangerous message to the global community, exposes funding agencies and donors to reputational risks, and makes a mockery of global values, the Indian finance ministry said in a statement.

India’s opposition at the IMF comes at a time when military conflict between India and Pakistan has intensified. The statement issued by the PM office in Islamabad said Pakistan’s “economic situation has improved, and the country is moving towards development. India is plotting a conspiracy to divert attention from our country’s development through unilateral aggression.” “Indian attempts to sabotage the IMF programme have failed,” the statement said, adding that the IMF programme would help stabilise the economy and put it on the path towards long-term recovery.

“We are working on priority areas such as tax reform, improved energy sector performance and private sector development. The improved economic indicators in the last 14 months are a reflection of the government’s positive policies,” it said.

The approval of the IMF’s executive board has led to an immediate disbursement of USD 1 billion, bringing total disbursements under the loan programme to about USD 2 billion. On successful completion of seven half-yearly reviews, Pakistan is entitled to seven equal instalments of about USD 1 billion under the loan programme.

Pakis­tan and the IMF had reached a three-year, USD 7 billion aid package deal in July last with the new programme set to allow the country to cement macroeconomic stability and create conditions for stronger, more inclusive and resilient growth.

The IMF and Pakistan had reached a staff-level agreement on March 25 on the first biannual review of the 39-month USD 7 billion loan programme, agreeing on a series of reforms including the introduction of a carbon levy, timely revisions to electricity tariffs, increased water pricing and liberalisation of the automobile sector.

You Might Also Like

‘What are you mourning’, Daniel Pearl’s father on Pak officials attending funeral of slain terrorists
‘What are you mourning’, Daniel Pearl’s father on Pak officials attending funeral of slain terrorists
Russia, China reaffirm comprehensive partnership against US moves
Russia, China reaffirm comprehensive partnership against US moves
Pakistan hails China ties as largest Gwadar airport; Beijing calls it donation
Pakistan airports experience severe disruptions, several flights cancelled
TAGGED:News9 LIVE
Share This Article
Facebook Twitter Email Print

You Also Like

Mass evacuation in Pak military cantonments amid India’s response to failed aerial intrusion

Mass evacuation in Pak military cantonments amid India’s response to failed aerial intrusion

By Admin 22 hours ago
Why Gulf powers, US and EU are leading diplomacy to defuse India-Pakistan tensions

Why Gulf powers, US and EU are leading diplomacy to defuse India-Pakistan tensions

By Admin 24 hours ago
‘None of our business’: Vice-President JD Vance says US won’t intervene in India-Pakistan conflict, urges de-escalation

‘None of our business’: Vice-President JD Vance says US won’t intervene in India-Pakistan conflict, urges de-escalation

By Admin 1 day ago
© 2024 NM Media. All Rights Reserved.
Welcome Back!

Sign in to your account

Lost your password?