The International Monetary Fund (IMF) has approved an additional loan of nearly $1 billion to Pakistan. In Indian currency, this amount is approximately 8,000 crore rupees. India had raised objections to giving this money to Pakistan.
It is reported that the IMF’s loan board held a meeting in Washington on Friday, where India raised objections to providing the loan to Pakistan. India’s claim was that Pakistan had failed to meet the conditions required to receive the IMF loan. India also stated that Pakistan has a poor track record when it comes to using the loan money properly. India’s allegation was that Pakistan does not use the funds for the benefit of its people but rather spends it to assist militants.
Pakistan has been suffering from an ongoing economic crisis and had requested a loan to get relief. The IMF has approved the immediate disbursement of $1 billion to Pakistan. The International Monetary Fund stated that due to their decision, almost $1 billion in immediate financial assistance has been made possible. As a result, the total amount of financial assistance under this arrangement has reached approximately $2.3 billion.
