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IMF’s annual meeting (file photo)
The Executive Board of the International Monetary Fund (IMF) will decide whether Pakistan has to give a new loan of $ 1.3 billion (about ₹ 11,113 crore). Pakistan has to be given this package under Climate Regylns Loan Program.
India can oppose this in the board meeting as there are situations like war between the two countries due to the terrorist attack in Pahalgam and the operation sindoor from India. In such a situation, India will not want Pakistan to get any funds and use it to spread terrorism in India.
First review of 7 billion dollars package
In today’s meeting of IMF, the first review of the assistance of $ 7 billion (about 59 thousand crore rupees) is also to be held under Expected Fund Facility (EFF). In the meeting, it will be decided whether Pakistan has to pay the next installment of this package or not.
Pakistan and IMF agreed to a support package of US $ 7 billion for three years in July 2024, under which new programs are to work on giving financial strength to Pakistan.
There are six reviews till the 37 -month EFF program (aid program). The next installment of about $ 1 billion is to be released on the basis of Pakistan’s performance.
Parmeshwaran Iyer will represent India in the IMF Board.
Asked to reconsider the fund given to Pakistan
India had objected to the $ 1.3 billion loans to be given to Pakistan and said that it should be considered again, as the money received to Pakistan can be used to promote terror.
However, IMF has refused to accept India’s request. He will review the loan being given to Pakistan on 9 May as per the scheduled schedule.
India is preparing to surround Pakistan all -round
India said on Friday that it would ask the Global Multilator agencies (World Bank and Asian Development Bank), including the IMF, to reconsider the funds and loans given to Pakistan as India wants to dip the neighboring state after the brutal terrorist attack in Pahalgam on 22 April. Actually, 26 tourists were killed in the Pahalgam attack.
What does IMF executive board do?
IMF is an international institution that helps countries, advises and monitors their economy. The core team of this institution is the Executive Board. This team sees which country to give loans, which policies have to be implemented and how to work on the economy of the world.
It consists of 24 members called Executive Director. Every member represents a country or group of country. India has a separate (independent) representative. Who speaks in the IMF from India. It also sees that the policies of IMF should not harm the country. If the institution is going to give loan to a country, then give opinion on India on behalf of India.
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Today’s Excellener: ₹ 21.6 lakh crore loan on Pakistan, vacant vault; 11 thousand crores were about to get, India is also going to stop
Every child of Pakistan is born with a loan of 86.5 thousand rupees at this time. Be it the import bill of oil and gas or everyday expenses like salary and subsidy, the entire economy of Pakistan is running on debt. But now India can vote against the loan from IMF to Pakistan.
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Parameswaran Iyer will represent India in IMF Board: Board will consider giving assistance of ₹ 11,000 crore to Pakistan, meeting on 9 May
India has nominated Parameswaran Iyer in the Board of International Monetary Fund (IMF) to the temporary director. Parameswaran will represent India at the IMF meeting to be held on 9 May. Diplomatic point of view on Friday is very important for India.