India urges global review of Pakistan aid after Pahalgam carnage

In a sharp diplomatic escalation, India is set to urge international financial bodies — including the International Monetary Fund (IMF) — to reassess their funding and loan assistance to Pakistan, according to a government source quoted by PTI. This move follows the brutal terror attack in Pahalgam last month, which claimed the lives of 26 tourists.

“We will approach all multilateral agencies, requesting them to reconsider their support to Pakistan,” the source stated. The IMF’s Executive Board is scheduled to convene on May 9 to evaluate Pakistan’s ongoing Extended Fund Facility, alongside a proposal for $1.3 billion under the Resilience and Sustainability Facility — part of a broader $7 billion bailout.

India’s push aims to highlight Pakistan’s economic dependence amid a growing diplomatic rift. Pakistan recently conducted a training launch of a surface-to-surface missile, while its forex reserves remain fragile. In contrast, India’s financial health appears robust.

The Asian Development Bank has backed 764 public sector projects in Pakistan worth $43.4 billion. Currently, its active portfolio includes $9.13 billion across 53 loans and 3 grants, such as a $320 million initiative to develop rural roads in flood-affected Khyber Pakhtunkhwa. Additionally, in January 2025, the World Bank approved a $20 billion assistance package for Pakistan.

As tensions flare, Pakistan reiterated its entitlement to call for a United Nations Security Council meeting, citing the situation in Jammu and Kashmir. Its UN envoy, Asim Iftikhar Ahmad, framed recent developments as part of the broader Kashmir context.

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