Pakistan gets $ 1,023 million as second installment from IMF under extended fund facility.
Pakistan has obtained a second installment of special drawing rights for 760 million ($ 1,023 million) from the International Monetary Fund (IMF) through the extended Fund Facility Program.State Bank of Pakistan announced on X (East Twitter) that these funds would be included in their foreign exchange reserves for the week ending May 16.Last week, India avoided voting at the International Monetary Fund Executive Board meeting, expressing serious concern about the IMF bailout packages for Pakistan. India highlighted Pakistan’s status as a long -term IMF borrower with poor compliance with the program’s status. India said that Pakistan has taken important loans with adequate financial assistance, effectively made it a ‘very big debtor’ for IMF.Also read India -Pakistan ceasefire: How India’s punitive measures will continue to hit Pakistan’s critical economy – explainedWhile reviewing Pakistan’s Extended Fund Facility (EFF) program ($ 1 billion) and assessing a new flexibility and stability facility ($ 1.3 billion), India raised doubts about the efficacy of IMF support, given India, given Pakistan’s poor track record. India also expressed concern about the possible use of debt financing resources to support cross -border terrorism through the state system.India highlighted how the deep engagement policy of Pakistan’s Army in economic matters pose sufficient risk for execution and long -term reforms. According to India’s statement, while holding the post of a civilian government, the armed forces continue to control the political and economic sectors of the country.Since 2021, the United Nations assessment recognized military-dwellers as Pakistan’s ‘largest group’. Playing an important role in Pakistan’s Special Investment Facility Council, the situation with the army has become more clear, India has further mentioned.Also read Operation Sindore: Can Pakistan financially bear the expenses of a struggle with India because stress increases? Here is a reality check
