On the issue of IMF extending the loan of $2.4 billion, the government source said that India tried its level best – met with the finance ministers of many European Countries -including Germany, France and Italy – but could not stop the IMF from approving the bailout package to Pakistan.“They had already made up their mind (on approving the loan to Pakistan),” said the source on the condition of anonymity.However, the source quoted above expressed satisfaction that the IMF has set 11 additional conditions for letting Pakistan use the funds.The government source said that India is not opposed in principle to Pakistan’s development funding by the IMF or World Bank, but it was opposed to the timing of the approval.The source further says that the IMF’s own assessment shows that Pakistan’s arms purchases increase every time it has funded the country, yet they went ahead and approved the loan.
Source link
