The Executive Board of the International Monetary Fund (IMF) will decide today whether to give a new loan of $1.3 billion (about ?11,113 crores) to Pakistan or not. This package is to be given to Pakistan under the Climate Resilience Loan Program. India can oppose this in the board meeting, because due to the terrorist attack in Pahalgam and Operation Sindoor by India, there are war like situations between the two countries. In such a situation, India would not want Pakistan to get any funds and use it to spread terrorism in India. Before giving aid to Pakistan, IMF should look deep within itself. A day before the IMF meeting, on Thursday (May 8), India’s Foreign Secretary Vikram Misri said that before giving relief to Pakistan, the IMF board should look deep within itself and keep the facts in mind. In the last three decades, IMF has given many big aids to Pakistan. None of the programs run by it have been able to reach successful results. Misri said that India’s Executive Director will present the country’s side in the IMF board meeting on May 9. What will be the decision of the board is a different matter, you know what are the ways of taking decisions of the IMF. But, I think that in the case of Pakistan, those who easily open their treasury to save this country should know the facts. The first review of the 7 billion dollar package is also to be done in today’s meeting of the IMF. The first review of the 7 billion dollar (about 59 thousand crore rupees) aid being given to Pakistan under the Extended Fund Facility (EFF) is also to be done in today’s meeting of the IMF. It will be decided in the meeting whether to give the next installment of this package to Pakistan or not. Pakistan and the IMF had agreed on a three-year aid package of 7 billion US dollars in July 2024, under which work is to be done to strengthen Pakistan economically through new programs. There are six reviews to be done in the 37-month EFF program (aid program) until the full amount is received. The next installment of about $1 billion is to be released based on Pakistan’s performance. Asked to reconsider the funds given to Pakistan India had objected to the $1.3 billion loan to Pakistan and said that it should be reconsidered, because the money given to Pakistan can be used to promote terrorism. However, the IMF has refused to accept India’s request. It will review the loan being given to Pakistan on May 9 as per the scheduled program. India preparing to surround Pakistan from all sides India said on Friday that it will ask global multilateral agencies (World Bank and Asian Development Bank), including the IMF, to reconsider the funds and loans given to Pakistan, as India wants to surround the neighboring state diplomatically after the brutal terrorist attack in Pahalgam on April 22. 26 tourists were killed in the Pahalgam attack. What does the IMF Executive Board do? IMF is an international organization which helps countries financially, gives advice and keeps an eye on their economy. The core team of this organization is the executive board. This team decides which country to give loan to, which policies to implement and how to work on the world economy. It has 24 members who are called executive directors. Each member represents a country or a group of countries. India has a separate (independent) representative who presents his views on behalf of India in IMF. It also ensures that IMF policies do not harm the country. If the organization is going to give loan to any country, then give opinion on it on behalf of India. ————————— Read this news related to the economic condition of Pakistan… Today’s explainer: Pakistan has a debt of ?21.6 lakh crores, treasury is empty; 11 thousand crores were to be received, India is going to stop that too. Every child of Pakistan is born with a debt of 86.5 thousand rupees on his head. Be it the oil and gas import bill or the day-to-day expenses like salaries and subsidies, Pakistan’s entire economy is running on debt. But now India can vote against the loan to Pakistan from the IMF. Read the full report… Parameswaran Iyer will represent India in the IMF board: The board will consider giving ?11,000 crore aid to Pakistan, meeting on 9 May India has nominated Parameswaran Iyer as the temporary director in the board of International Monetary Fund (IMF). Parameswaran will represent India in the IMF meeting to be held on 9 May. The meeting to be held on Friday is very important for India from the diplomatic point of view. Read the full news…
