New Delhi [India], May 17 (ANI): Congress MP Jairam Ramesh on Saturday sharply criticised the BJP-led central government for abstaining from voting during the International Monetary Fund (IMF) Executive Board meeting on May 9, which approved fresh loans worth USD 1.3 billion to Pakistan. He claimed the Modi government “buckled under US pressure” instead of opposing the bailout.
In a post on X, Ramesh argued that India had the option to vote “No” but chose to abstain. “Where there is a will, there is a way. The Modi Govt simply buckled under US pressure on May 9th at the IMF Executive Board meeting,” he wrote.
Ramesh also noted that the Congress party had previously called for a forceful opposition to the bailout well before the IMF meeting. He added, “Defence Minister Rajnath Singh is now criticising the IMF for approving over $2 billion in loans to Pakistan on May 9th, 2025. On April 29th itself — before the Modi Govt woke up — the INC had said that the IMF Executive Board was meeting on May 9th to consider this issue and that India should oppose it forcefully.”
He accused the government’s supporters of misleading the public by claiming abstention was India’s only option. “As it turns out, India only abstained on May 9th. Later, the Modi Govt’s drumbeaters, cheerleaders, and apologists argued that this was the only option available to India,” said the Rajya Sabha MP.
Ramesh further cited historical precedents to demonstrate that voting “No” is indeed possible in IMF Executive Board meetings. “Russia had voted No on a loan proposal to Ukraine in September 2016, and India herself had voted No on 11th September, 2005, on the issue of the expulsion of Zimbabwe,” he stated.
The comments follow Defence Minister Rajnath Singh’s appeal to the IMF to reconsider funding to Pakistan, warning that Islamabad would use much of the funds to support terror infrastructure. Singh, speaking at Bhuj Air Force Station, said, “I believe Pakistan will spend a large portion of the funds received from the International Monetary Fund on terror infrastructure in its country…. India wants the IMF to reconsider funding to Pakistan.”
India officially abstained on both the USD 1 billion Extended Fund Facility (EFF) review and the fresh USD 1.3 billion Resilience and Sustainability Facility (RSF) for Pakistan, citing concerns about Pakistan’s misuse of previous IMF loans for state-sponsored cross-border terrorism.
India’s Finance Ministry noted Pakistan’s long history as a “prolonged borrower” from the IMF, having received disbursements in 28 of the past 35 years since 1989, including four IMF programs initiated in the last five years. (ANI)
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