Indian Defence Minister Rajnath Singh stated Friday that the International Monetary Fund (IMF) should reconsider a one-billion-dollar loan to Pakistan, claiming that Islamabad was “funding terror”.
“I believe a big portion of the $1 billion coming from the IMF will be used for funding terror infrastructure,” Singh told troops at an air force base in western India.
“I believe any economic assistance to Pakistan is nothing less than funding terror.”
India and Pakistan last week launched missiles, drones and artillery strikes on each other before a ceasefire that began Saturday.
Last week, India and Pakistan launched missile, drone, and artillery strikes on each other ahead of a ceasefire that began on Saturday.
Despite India’s objections, the IMF authorised a loan programme review for Pakistan last week, freeing up approximately $1 billion in desperately needed money and authorising a new $1.4 billion bailout.
India, which also represents Bhutan, Sri Lanka, and Bangladesh on the board of the IMF, abstained on the review vote, a statement from its finance ministry voicing “concerns over the efficacy of IMF programmes in the case of Pakistan given its poor track record”.
Pakistan was on the verge of default in 2023, as a political crisis exacerbated an economic downturn and pushed the country’s debt burden to unsustainable proportions.
It was saved by a $7 billion bailout from the IMF, the 24th since 1958.
Singh asserted that it was “now clear that in Pakistan, terrorism and the government go hand in hand.”
“In this situation, it is possible that their nuclear weapons may fall into the hands of terrorists. “This is a threat not only to Pakistan but to the entire world,” he stated.
The fighting between New Delhi and Islamabad began on May 7 when India conducted strikes against “terrorist camps” in Pakistan in response to an April attack in Indian-administered Kashmir that killed 26 people.
New Delhi accused Islamabad of supporting the militants it claimed were behind the bloodiest attack on civilians in Kashmir in decades. Pakistan disputes the charges.
Four days of violent drone, missile, and artillery exchanges erupted, killing approximately 70 individuals on both sides, including dozens of civilians.
