India warns IMF against fresh bailout for Pakistan

2 min read
  1. Indian Government has cautioned the International Monetary Fund against the fresh bailout for Pakistan.
  2. Pakistan has been seeking US $8 billion from the IMF to bail itself out from a severe financial crisis that threatens to cripple the country’s economy.
  3. Indian officials has told the IMF that Pakistan which was already grey listed by Financial Action Task Force’s(FATF) for its failure to crack down on terror funding may soon be put under the black list which will severely restrict its financial transactions with other countries.
  4. Further,Pakistan had already received a total of US $9.1 billion in financial aid packages from countries like China,Saudi Arabia and the UAE during the current fiscal year.
  5. The International Monetary Fund (IMF) is an international organization headquartered in Washington,US.It consists of 189 countries.It was formed in 1944 at the Bretton Woods Conference.It has been established to (a)foster global monetary cooperation (b)secure financial stability, (c)facilitate international trade (d)promote high employment (e) sustainable economic growth and (f)reduce poverty around the world.