By: Kashif Zia
ISLAMABAD (Kashmir English): The Indian government has approached the International Monetary Fund (IMF) to review loans disbursed to Pakistan, Reuters reported, citing an Indian government source, days after the Pahalgam attack.
The development came after India falsely blamed Pakistan for the Pahalgam attack, in which 26 people were killed. Islamabad, while categorically denying the allegations, demanded a neutral investigation.
Following the attack, Indian, without providing any evidence, took a slew of aggressive measures, including the suspension of the Indus Water Treaty and limiting diplomatic relations.
India’s unilateral move was rejected by Pakistan, and the country’s National Security Committee warned New Delhi that any move to stop or divert Pakistan’s fair water would be considered an ‘act of war’.
In a media briefing on April 30, the chief of Pakistan’s military media wing, Lt Gen Ahmed Sharif Chaudhry, said that India has been making the Pahalgam incident ground to end the Indus Water Treaty.
The recent move by India to oppose an approved $1.3-billion IMF loan to Pakistan is also seen as New Delhi’s disguised motive behind the Pahalgam false flag operation.
According to the report, India raised concerns with the IMF on its loans to Pakistan, asking for a review.
Pakistan secured a $7 billion bailout programme from the IMF last year and was granted a new $1.3 billion climate resilience loan in March, which is critical for Islamabad to stabilize its economy.
“The latest review has been done well and we are completely on track,” advisor to Pakistan’s Foreign Minister, Khurram Schehzad, told Reuters, adding that Pakistan had very productive spring meetings with financial institutions in Washington.
According to the details, the IMF Executive Board will meet on May 9 to finalise the disbursement of a $1.1 billion loan tranche to Pakistan under its climate resilience loan programme. It will also conduct a review of the ongoing $7-billion bailout package, including progress with the policy milestones.
This follows the staff-level agreement between the IMF and Pakistan reached in March, with the final approval expected in the upcoming meeting.
