India abstains from voting on IMF's bailout package for Pakistan, cites Islamabad's 'poor track record'

India abstains from voting on IMF's bailout package for Pakistan, cites Islamabad's 'poor track record'

Washington:

India on Friday abstained from voting on the International Monetary Fund’s (IMF) proposed USD 1.3 billion bailout package for Pakistan. New Delhi cited Islamabad's 'poor track record', raising concerns over the efficacy of IMF programs in the case of Pakistan. India also highlighted the possibility of misuse of debt financing funds for state-sponsored cross-border terrorism from the Pakistani side. 

In a press release, the government of India said, "A 2021 UN report described military-linked businesses as the 'largest conglomerate in Pakistan'. The situation has not changed for the better; rather, the Pakistan Army now plays a leading role in the Special Investment Facilitation Council of Pakistan."

India has also emphasised that extending the bailout package to Pakistan amounts to "rewarding continued sponsorship of cross-border terrorism", and it sends a "dangerous message to the global community, exposes funding agencies and donors to reputational risks, and makes a mockery of global values." 

Read More Anita Anand of Indian-origin becomes Canada's foreign minister after new cabinet announcement

A day ahead of a crucial meeting of the International Monetary Fund (IMF) in Washington, India on Thursday hinted that it could communicate its view to the global financial body on its bailout package for Pakistan.

Read More Donald Trump, US President, announces plan to lift sanctions on Syria after Assad's fall

Foreign Secretary Vikram Misri said India's executive director at the IMF will put forward the country's position during the meeting of the board of the global body on Friday.

Read More Canada: Mark Carney reduces income tax rate to 14% from July, over 22 million Canadians to benefit

"I'm sure that our executive director will put forward India's position," he said at a media briefing.

"The decisions of the board are a different matter. But I think the case with regard to Pakistan should be self-evident to those people who generously open their pockets to bail out this country," he said. Misri noted that many of the 24 bailout packages sanctioned by the IMF for Pakistan had not reached a successful conclusion.

The foreign secretary's comments came amid escalating tensions between India and Pakistan since New Delhi's military strikes on Wednesday against terrorist infrastructure in Pakistan and Pakistan-Occupied-Kashmir.

Tags:

About The Author

Aryan Age Picture

Welcome to Aryan Age, an English newspaper that has been serving readers since 2011 from Delhi. With a loyal circulation of over 19,000, we are dedicated to providing our readers with the latest news and information, as well as insightful analysis and commentary that help them navigate the complex and rapidly changing world.

Post Comment

Comment List

Latest News

CM Dr. Mohan Yadav Condoles the Demise of Renowned Astrophysicist Dr. Jayant Narlikar CM Dr. Mohan Yadav Condoles the Demise of Renowned Astrophysicist Dr. Jayant Narlikar
Chief Minister Dr. Mohan Yadav has expressed deep sorrow over the demise of eminent astrophysicist Dr. Jayant Narlikar . In...
Chief Minister Dr. Yadav Pays Tribute to Freedom Fighter Bipin Chandra Pal
Chief Minister Dr. Yadav Remembers Param Vir Chakra Awardee Major Shekhawat on His Birth Anniversary

Live Cricket Score

Advertisement

Science & Tech

Android 16 will completely change your experience: Here's everything that's coming Android 16 will completely change your experience: Here's everything that's coming
New Delhi: Google recently held The Android Show: I/O Edition ahead of its Google I/O 2025, which is set for...
Samsung Galaxy A Series gets dedicated button for Gemini AI activation with new update

Health

Lifestyle factors increase cardiovascular risk more for women, finds study Lifestyle factors increase cardiovascular risk more for women, finds study
A recent study presented at the American College of Cardiology's Annual Scientific Session said that lifestyle and health factors that...
Expert sheds light on medical breakthroughs in obesity treatment

Lifestyle

Dubai Crown Prince arrives in Delhi: Know about his Rs 33,500 crore property, luxurious lifestyle and more Dubai Crown Prince arrives in Delhi: Know about his Rs 33,500 crore property, luxurious lifestyle and more
Dubai's Crown Prince Sheikh Hamdan bin Mohammed Al Maktoum, also known as 'Fazza' has arrived in India on April 8....
From Sarojini to Atta: Hop on to THESE markets of Delhi NCR for Christmas shopping