The International Monetary Fund (IMF) has approved a bailout package of one billion dollars (₹8,000 crores) for Pakistan. The IMF clarified that Pakistan, which is drowning in debt, is eligible to receive this loan.
The IMF released these funds after India’s armed forces conducted Operation Sindhur against militant camps in Pakistan-occupied Kashmir (PoK). This aid came at a time when Pakistan was facing unprovoked firing from India, which drew Indian objections stating that the loan could potentially support terrorist activities in Pakistan.
A few days after India raised concerns, the IMF stood by its decision. Last year, Pakistan signed a $7 billion loan agreement with the IMF, of which $2.1 billion has already been disbursed in two installments.IMF Director Julie Kozack stated that the IMF board recognized Pakistan had met all its targets and made progress on certain reforms, which led to the approval of this program.
