NEW DELHI: Jammu and Kashmir chief minister Omar Abdullah strongly criticised the International Monetary Fund (IMF) for approving a $1 billion loan to Pakistan amid escalating border tensions between the two nations.
His comments came as Pakistan launched attacks on 26 locations across India on Saturday, prompting immediate retaliatory strikes from Army.
"I’m not sure how the 'International Community' thinks the current tension in the subcontinent will be de-escalated when the IMF essentially reimburses Pakistan for all the ordnance it is using to devastate Poonch, Rajouri, Uri, Tangdhar & so many other places," he wrote on X.
On Friday, IMF approved the immediate disbursement of the loan to Pakistan under the ongoing Extended Fund Facility (EFF), drawing sharp opposition from India, which warned the funds could be misused to support state-sponsored cross-border terrorism.
"This decision allows for an immediate disbursement of around USD 1 billion (SDR 760 million), bringing total disbursements under the arrangement to about USD 2.1 billion (SDR 1.52 billion)," a statement from the agency said.
In addition, the IMF Executive Board approved Pakistan's request for an arrangement under the Resilience and Sustainability Facility (RSF), with access of about $1.4 billion.
As per the statement, the RSF would support Pakistan's efforts to reduce vulnerabilities to natural disasters and to build economic and climate resilience.
India expressed its dissent by abstaining from the crucial IMF vote. The Indian government highlighted concerns about Pakistan's track record, pointing out that the country has received IMF assistance for 28 out of the past 35 years, including four separate programs in recent years, without implementing substantial reforms.
India also emphasized that providing financial support to a nation known for supporting terrorism not only poses reputational risks for international organizations but also goes against established global principles.
His comments came as Pakistan launched attacks on 26 locations across India on Saturday, prompting immediate retaliatory strikes from Army.
"I’m not sure how the 'International Community' thinks the current tension in the subcontinent will be de-escalated when the IMF essentially reimburses Pakistan for all the ordnance it is using to devastate Poonch, Rajouri, Uri, Tangdhar & so many other places," he wrote on X.
On Friday, IMF approved the immediate disbursement of the loan to Pakistan under the ongoing Extended Fund Facility (EFF), drawing sharp opposition from India, which warned the funds could be misused to support state-sponsored cross-border terrorism.
"This decision allows for an immediate disbursement of around USD 1 billion (SDR 760 million), bringing total disbursements under the arrangement to about USD 2.1 billion (SDR 1.52 billion)," a statement from the agency said.
In addition, the IMF Executive Board approved Pakistan's request for an arrangement under the Resilience and Sustainability Facility (RSF), with access of about $1.4 billion.
As per the statement, the RSF would support Pakistan's efforts to reduce vulnerabilities to natural disasters and to build economic and climate resilience.
India expressed its dissent by abstaining from the crucial IMF vote. The Indian government highlighted concerns about Pakistan's track record, pointing out that the country has received IMF assistance for 28 out of the past 35 years, including four separate programs in recent years, without implementing substantial reforms.
India also emphasized that providing financial support to a nation known for supporting terrorism not only poses reputational risks for international organizations but also goes against established global principles.
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