India made distance from IMF voting
The International Monetary Fund (IMF) today reviewed the 1 billion $ 1 billion Expendent Fund Facility (EFF) Lending Program program. The IMF also considered a new resolution of $ 1.3 billion for Pakistan and Sustainability Facility (RSF) lending program for Pakistan. In this entire case, India expressed concern over the effectiveness of the IMF program in the case of Pakistan as an active and responsible member country. Let us tell you that there is a lot of tension between India and Pakistan at this time.
Pakistan’s track record is quite bad
India, on its side, said that Pakistan has been taking loans from the IMF for a long time, whose record of implementation and IMF program conditions has been very poor. India has also expressed concern over the possibility of misuse of Debt Financing Funds for Pakistan’s poor track records and the state -sponsored cross -border terrorism.
Frequent debt burden on Pakistan
India flagged the Pakistan Chapter of the IMF report on the evaluation of long -term use of IMF resources. The report said that there is a widespread belief that political views have an important role in the debt given by the IMF to Pakistan. As a result of repeated bailouts, Pakistan has a tremendous debt burden.
India made distance from IMF voting
India, citing terrorism concerns, distanced the IMF voting on Pakistan’s loan program. India reported that funding the frequent sponsorship of cross -border terrorism sends a dangerous message to the global community, putting funding agencies and donors at risk of prestige and making fun of global values. The Government of India said that the International Monetary Fund (IMF) has taken cognizance of India’s statements and voting.
Latest business news
