IMF loan to Pakistan shocking, disappointing, says Gaurav Gogoi

Congress MP Gaurav Gogoi on Saturday, 10 May, said the approval of a loan to Pakistan by the International Monetary Fund (IMF) after the Pahalgam terror attack was ''shocking and disappointing''.

His comment comes after the International Monetary Fund (IMF) on Friday approved the disbursement of around USD 1 billion to Pakistan under the Extended Fund Facility (EFF).

''The approval of a USD 1 billion loan after the Pakistan-sponsored Pahalgam attack is shocking and disappointing. The loan will only perpetuate the rule of the army over the state," the deputy leader of the opposition in the Lok Sabha posted on 'X'.

The IMF board comprises 25 member countries, such as the US, Japan, Australia, Germany, France, the UK, Italy and Israel, Gogoi said.

Congress leader Jairam Ramesh had, earlier in a social media post, said that the Congress had demanded on 29 April that India vote against the IMF loan to Pakistan, which was considered by the IMF Executive Board on Friday, but the country abstained from voting.

''The Modi government backed down. A strong 'NO' vote there would have sent a strong message," Ramesh said.

Assam chief minister Himanta Biswa Sarma, in a post on 'X' on Saturday, alleged that Congress leaders like Jairam Ramesh and Pawan Khera are indulging in propaganda on the International Monetary Fund's (IMF) bailout to Pakistan.

''Exposing the Misinformation: IMF, Pakistan, and India’s Principled Stand once again, Congress leaders like Jairam Ramesh and Pawan Khera are indulging in reckless propaganda-twisting facts and misleading the nation over India’s stand on the recent IMF bailout to Pakistan'', the chief minister posted on 'X'.

The International Monetary Fund (IMF) cleared a USD 1-billion tranche for Pakistan as part of its USD 7-billion Extended Fund Facility (EFF) lending programme and USD 1.3 billion tranche under the Resilience and Sustainability Facility (RSF) in its board meeting held Friday.

India abstained from voting in the meeting as it raised concerns over the efficacy of IMF programmes for Pakistan, given its “poor track record” and also on the possibility of “misuse of debt financing funds for state-sponsored cross-border terrorism”, an official release by the Union Ministry of Finance said.