Omar Abdullah slams IMF over loan to Pakistan as it intensifies airstrikes: ‘It’s using it to…’

Jammu and Kashmir’s chief minister Omar Abdullah on Saturday raised concerns about the International Monetary Fund’s (IMF) choice to grant Islamabad a $2.3 billion bailout package amid the continuing tensions between India and Pakistan.

In a post on X, Abdullah pointed out that the IMF “essentially reimburses” Pakistan for the ordinance it is using to devastate Poonch, Rajouri and other places in Jammu and Kashmir.

“I’m not sure how the “International Community” thinks the current tension in the subcontinent will be de-escalated when the IMF essentially reimburses Pakistan for all the ordnance it is using to devastate Poonch, Rajouri, Uri, Tangdhar & so many other places,” Abdullah wrote on X.

On Friday, the Indian government opposed the IMF’s decision to grant a $2.3 billion bailout package to Pakistan, pointing to its history of misusing development funds, and chose not to participate in the vote at the IMF board’s meeting.

A government statement indicated that the meeting endorsed the Extended Fund Facility (EFF) lending program ($1 billion) and a new Resilience and Sustainability Facility (RSF) lending program ($1.3 billion).

“As an active and responsible member country, India raised concerns over the efficacy of IMF programs in the case of Pakistan given its poor track record, and also on the possibility of misuse of debt financing funds for state-sponsored cross-border terrorism,” the finance ministry said in a statement.

During the meeting, India expressed its objection by indicating that rewarding ongoing support for cross-border terrorism conveys a perilous message to the international community, puts funding organizations and donors at reputational risk, and undermines global values.

Negative voting is prohibited in the executive board of the IMF. A member can choose to vote for a proposal or abstain from voting.

The IMF rescue plan for Pakistan arrives during rising tensions between India and Pakistan, which have persisted since India’s attacks on terrorist camps on May 7 and Pakistan’s following bombardment of border regions.