Modi govt 'buckled under US pressure' at IMF meeting on Pak loans: Congress

A day after defence minister Rajnath Singh urged the IMF to rethink its assistance to Pakistan, the Congress on Saturday, 17 May, alleged that the Narendra Modi government had "simply buckled under US pressure" at the IMF Executive Board meeting when the loans to that country were deliberated upon.

Congress general secretary in-charge communications Jairam Ramesh said Singh is now criticising the IMF for approving loans to Pakistan on 9 May 2025, "but on 29 April itself - before the Modi government woke up - the Congress had said that the IMF Executive Board was meeting on May 9th to consider this issue and that India should oppose it forcefully".

"As it turns out India only abstained on 9 May. Later the Modi government's drumbeaters, cheerleaders and apologists argued that this was the only option available to India. This is a lie," Ramesh claimed.

There is indeed a provision to vote No in the Executive Board, he said.

रक्षा मंत्री राजनाथ सिंह अब 9 मई, 2025 को पाकिस्तान को 2 अरब डॉलर से अधिक का ऋण मंजूर करने के लिए अंतर्राष्ट्रीय मुद्रा कोष (IMF) की आलोचना कर रहे हैं।

जबकि 29 अप्रैल को ही-मोदी सरकार के जागने से पहले-भारतीय राष्ट्रीय कांग्रेस ने स्पष्ट रूप से कहा था कि IMF की कार्यकारी बोर्ड की… https://t.co/OuQlENp56C

— Jairam Ramesh (@Jairam_Ramesh) May 17, 2025

Russia had voted No on a loan proposal to Ukraine in September 2016 and India herself had voted No on 11 September 2005, on the issue of the expulsion of Zimbabwe, the Congress leader said.

"Where there is a will there is a way. The Modi government simply buckled under US pressure on 9 May at the IMF Executive Board meeting," Ramesh said.

India on Friday pressed the International Monetary Fund (IMF) to reconsider its USD 1 billion assistance to Pakistan, saying Islamabad could use a large part of it to fund the terrorist infrastructure.

In an address to air warriors at Gujarat's Bhuj Air Force station, Singh cautioned against providing financial support to Pakistan, saying any such assistance would be no less than terror funding.

In its board meeting in Washington on 9 May, the IMF cleared a USD 1 billion tranche for Pakistan as part of its USD 7 billion funding programme for the country.

"The Pakistan government has announced financial assistance to rebuild the terror infrastructure of Lashkar-e-Taiba and Jaish-e-Mohammed located in Muridke and Bahawalpur," Singh had said.

"Certainly, a large part of IMF's USD one billion assistance will be used to fund the terror infrastructure. Will this not be considered indirect funding by IMF, an international organisation?"

"Any financial assistance to Pakistan is no less than terror funding. The funds India gives to IMF should not be used, directly or indirectly, to create terror infrastructure in Pakistan or any other country," he had said.