Gaurav Gogoi criticises $1 billion IMF loan to Pakistan amidst Indo-Pak tensions
India abstains from vote citing concerns over misuse of funds and Pakistan’s track record.
AT Photo: Gaurav Gogoi (file image)
Guwahati, May 10: Congress MP Gaurav Gogoi has expressed disappointment over the International Monetary Fund's recent approval of a USD 1 billion loan to Pakistan, just days after the Pahalgam terror attack, which had alleged cross-border linkages. Terming the decision “shocking and disappointing,” Gogoi suggested that the loan could further empower Pakistan’s military establishment.
The IMF Executive Board, in its meeting on Friday, approved the disbursement under the Extended Fund Facility (EFF), part of a broader USD 7 billion programme. An additional USD 1.3 billion was cleared under the Resilience and Sustainability Facility (RSF), aimed at supporting Pakistan’s economic and climate-related challenges.
Taking to social media platform 'X', Gogoi, who serves as the Deputy Leader of the Opposition in the Lok Sabha, wrote, “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.” He pointed out that the IMF Executive Board includes influential member countries like the US, UK, Japan, France, and Israel.
Earlier, Congress leader Jairam Ramesh had stated that the party had urged the government to vote against the loan proposal. He criticized the Modi government for abstaining from the vote, saying a firm “no” would have sent a strong message internationally.
Responding to these comments, Assam Chief Minister Himanta Biswa Sarma accused Congress leaders of spreading misinformation. In a post on ‘X’, he wrote, “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 Union Finance Ministry clarified India’s abstention, stating that the country raised concerns about Pakistan’s "poor track record" with IMF programmes and the risk of “misuse of debt financing funds for state-sponsored cross-border terrorism.”
While the IMF’s decision has sparked political debate in India, it remains to be seen how the funds will impact Pakistan’s economic situation and regional dynamics.
-PTI