In a shameful manner, Pakistan is openly begging for loans from the World Bank and international partners, just two days after ‘suffering heavy losses’ as India carried out strikes on May 7 and 8 under Operation Sindoor, specifically targeting and dismantling Pakistan’s terror camps and air defence systems. The action came in response to Pakistan’s failed attempt to target 15 strategic military locations across Northern and Western India using drones and missiles.
Notably, amid an ‘escalating war’ (war term is officially used by the Government of Pakistan), the country’s stock market has crashed. The terror hub Pakistan is now urging international partners for loans to “help de-escalate.”
It is a well-known fact that Pakistan is asking for these loans to buy weapons, missiles, and ammunition, which it will use to promote terrorism.
“The Government of Pakistan appeals to international partners for more loans after heavy losses inflicted by the enemy. Amid escalating war and stock market crash, we urge international partners to help de-escalate. The nation is urged to remain steadfast. @WorldBank,” Economic Affairs Division, Government of Pakistan, said in a tweet.
https://twitter.com/eadgop/status/1920683116441604197
Meanwhile, today (May 9), the International Monetary Fund (IMF) executive board is scheduled to meet with Pakistani officials for the first review of the Extended Funding Facility, and to consider a request under the resilience and sustainability facility.
Meanwhile, in another shameless act, the official X handle of the Ministry of Information and Broadcasting for exposing Fake News, called a post from the Economic Affairs Division, Government of Pakistan, asking for loans from the World Bank, fake. The country’s internal ministries are now mocking each other in a bizarre display of confusion and denial.
India’s Executive Director at the IMF will present the country’s position during the board meeting of the multilateral agency, which is expected to discuss a $1.3 billion loan to Pakistan.
“We have an executive director at the IMF. Tomorrow (Friday), there is a meeting of the board of the IMF, and I’m sure that our executive director will put forward India’s position,” Foreign Secretary Vikram Misri said.
Misri added that the IMF board members will need to take a decision based on facts, “The decisions of the board are a different matter – you know, the process through which they are made. But I think the case with regard to Pakistan should be self-evident to those people who generously open their pockets to bail out this country… many IMF bailout programmes have been sanctioned in the space of the last three decades. How many of those programmes have actually reached a successful conclusion – probably not many,” he said
At the same time, the Government of India is urging multilateral agencies, including the IMF, to reassess the funding and loans extended to Pakistan. India has also called on the Financial Action Task Force (FATF) to consider placing Pakistan back on the grey list.
India is further seeking a review of recent financial facilities extended by the IMF to Pakistan to help it avoid bankruptcy, and is in contact with other institutions such as the World Bank and the Asian Development Bank, which are currently financing projects in the neighbouring country.
