New Delhi [India], May 10 (ANI): Despite strong opposition to the consideration of a loan package to Pakistan by the International Monetary Fund (IMF), India remained absent from voting during Friday’s International Monetary Fund Executive Board meeting.
Despite the country’s objection, the IMF approved the first review of Pakistan’s economic reform programme under the EFF, bringing total disbursements to about USD 2.1 billion (SDR 1.52 billion).
Putting forward its perspective during the meeting, which took place on Friday, India cited Pakistan’s poor track record and the possibility of misuse of the financing for state-sponsored terrorism.
India chose to remain absent from the voting, as the IMF rules don’t allow members to vote “No”. India’s abstention comes amid the escalating tensions between the two countries.
As India abstained instead of voting “No”, the move is seen as a strong diplomatic signal made within the framework of the IMF rules.
The IMF Executive Board is responsible for day-to-day decisions such as loan approvals.
Unlike the United Nations, where each member has equal voting power, the IMF allocates votes based on a country’s economic weight.
Through its abstention, India lodged strong objections and expressed concern over what it sees as an ineffective and problematic pattern of IMF support to Pakistan.
During the meeting, India highlighted that Pakistan has received IMF aid in 28 of the past 35 years, including four different programmes in the last five years alone but it has not achieved any significant economic reform.
India has objected, saying Pakistan will use this loan package for military control and terror activities instead of reforms.
India strongly highlighted the Pakistani military’s continued dominance in economic affairs, which undermines transparency, civilian oversight, and sustainable reform.
New Delhi pointed to the Pakistani military’s entrenched role in the country’s economic decisions, warning that this undermines transparency, accountability, and the efficacy of civilian-led economic governance.
Citing terror links, India also opposed financing a state that continues to sponsor cross-border terrorism.
India warned that such support from the global financing body could damage its credibility and set a dangerous precedent within international institutions.
The move is being seen not just as a comment on Pakistan’s economic credibility, but also as a signal to the global community on the need for accountability in multilateral financial assistance. (ANI)
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