India raised its views at a meeting on Friday, citing Pakistan’s bad record and the possibility of misuse of state-funded terrorist financing.
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India chose not to vote because IMF rules do not allow members to vote “No”. India’s abstention is amid escalating tensions between the two countries.
Since India abstains rather than votes to “no”, the move is seen as a strong diplomatic signal sent within the framework of the IMF rules.
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The IMF Executive Committee is responsible for daily decision-making, such as loan approval.
Unlike the United Nations, which has the same voting rights, the International Monetary Fund votes based on the weight distribution of a country’s economy.
By abstaining, India raised strong objections and expressed concern about the IMF’s support for an invalid and problematic model in Pakistan.
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During the meeting, India stressed that Pakistan has received IMF assistance in the past 35 years, including four different plans in the past five years, but has not achieved any significant economic reforms.
India opposes, saying Pakistan will use the loan scheme for military control and terrorist activities rather than reforms.
India strongly emphasizes the continued domination of Pakistan’s military in economic affairs, which undermines transparency, civilian supervision and sustainable reforms.
New Delhi pointed to the ingrained role of the Pakistani military in the country’s economic decisions, warning that it would undermine the effectiveness of transparency, accountability and civilian-led economic governance.
India has cited terrorist links and is also opposed to funding a country that continues to sponsor cross-border terrorism.
India warns that such support from global financing institutions could damage their credibility and set dangerous precedents within international institutions.
The move is not only seen as a comment on Pakistan’s economic credibility, but also signals to the global community that it requires accountability for multilateral financial aid.
