Bhubaneswar, May 10 -- https://images.odishatv.in/uploadimage/library/16_9/16_9_0/IMF_1737183359.jpg
The International Monetary Fund (IMF) approved a USD 1 billion loan for Pakistan on Friday as part of a larger USD 7 billion Extended Fund Facility (EFF) aimed at stabilizing its crisis-hit economy. It also approved an additional USD 1.4 billion under the Resilience and Sustainability Facility(RSF), bringing the total new disbursement to USD 2.3 billion.
The decision came despite strong objections from India, which abstained from voting, citing risks of Pakistan diverting funds to finance state-sponsored cross-border terrorism.
India's opposition faced structural hurdles at the IMF. The lender's rules prohibit member nations from voting "...