Congress Accuses Modi Government of Bowing to US Pressure Over IMF Loan to Pakistan:

Suspense crime, Digital Desk : Congress party lambasted the Modi government for jaw-dropping decision to not participate in a key voting for an IMF Executive Board meeting on the 9th of May. One of the votes sanctioned the payment of a $1.02 billion loan installment to Pakistan under the Extended Fund Facility.

India preferred to stay out of the voting owing to Pakistan’s repeated abuse of IMF programs and its failure to meet stipulated reform conditions. Indian representatives also raised concerns that the IMF funding might indirectly finance state-sponsored terrorism.

Jairam Ramesh Questions India’s Inaction

In Congress, Ramesh heavily criticized the government for what he termed as weak political will to confront the loan. ‘The Defence Minister is now lamenting the fact that the IMF voted Pakistan’s loan, but where was the decisive leadership from this government yesterday?” Ramesh said. He stated Congress cannot accept what we warned this country on April twenty-nine, saying lacks political bravery to oppose the debt.

Ramesh defended the claims by saying that abstention would have been India’s only option. He recalled Russia’s “No” Vote on Ukraine’s IMF loan in 2016 or India’s ‘No’ Vote on Zimbabwe’s expulsion back in 2005. “Where there is political will, there is a way. The Modi government lacked that will and gave in to US pressure,” he claimed.

India Raises Concerns Over Pakistan’s IMF Track Record

In these matters, India clearly stated Pakistan’s IMF history as dubious which adds to the country’s unsustainable economic model. The Indian delegation expressed concerns from the Indian side that without strict supervision the money could fund government-sponsored destabilization underwriting.

Without going that far, India did not submit a formal “No” vote which placed the country in hot water with opposition parties while igniting broader questions on foreign relations continuity and security interests.