Faced with deepening turmoil, crisis-hit Pakistan has once again turned to its international allies, pleading for fresh loans as the country reels under the weight of escalating conflict with India and a crashing economy. The ongoing war has not only intensified geopolitical tensions but has also dealt a heavy blow to Pakistan's financial stability, leading to sharp declines in stock markets and widespread investor panic in the country. However, a ministry of economic affairs spokerperson later said that its X account was hacked and it did not make any such appeal.
Taking to X, the Economic Affairs Division of the Pakistani government acknowledged the severity of the situation and appealed to global institutions and friendly nations for immediate support. "Amid escalating war and stocks crash, we urge international partners to help de-escalate. Nation urged to remain steadfast," the post read.
India likely to urge IMF to exercise caution on bailout package to Pakistan
A day ahead of a crucial meeting of the International Monetary Fund (IMF) in Washington, India on Thursday hinted that it could communicate its view to the global financial body on its bailout package for Pakistan. Foreign Secretary Vikram Misri said India's executive director at the IMF will put forward the country's position during the meeting of the board of the global body on Friday.
"I am sure that our executive director will put forward India's position. The decisions of the board are a different matter...But I think the case with regard to Pakistan should be self-evident to those people who generously open their pockets to bail out this country," he said at a media briefing. Misri noted that many of the 24 bailout packages sanctioned by the IMF for Pakistan had not reached a successful conclusion.
The foreign secretary's comments came amid escalating tensions between India and Pakistan since New Delhi's military strikes against terrorist infrastructure in Pakistan and Pakistan-Occupied-Kashmir under "Operation Sindoor"
Operation Sindoor
It should be noted here that Operation Sindoor, executed between 1:05 am and 1:30 am on Wednesday, involved a coordinated effort by the Indian Army, Navy, and Air Force, targeting key facilities like the JeM and LeT bases in Pakistan as well as PoK. India's military action came days after the Pahalgam terror attack which had claimed the lives on 26 innocent people on April 22. This was termed as one of the biggest terror attacks after the abrogation of Article 370 in 2019. JeM chief Maulana Masood Azhar acknowledged that 10 members of his family and four close associates were killed in India's missile attack.
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