Does The G-7 Really Feel India’s Terror Trauma?

Just 20 days aft Pakistan-sponsored terrorists massacred 26 visitors astatine Pahalgam, nan morally and financially bankrupt federation has erstwhile again been bailed retired by nan International Monetary Fund (IMF).

In a disappointing yet expected move, nan IMF Executive Board approved a $1-billion indebtedness nether its Extended Fund Facility (EFF) Arrangement to Pakistan. This is nan 2nd tranche of nan $7-bn lending programme which is dispersed complete 37 months.

That was not all. As portion of its $2.4-bn package, nan IMF besides approved nan petition a ambiance money of $1.4 billion.

India’s Hands Tied

In nan absence of a ‘negative’ vote, nan only prime India had was to abstain. Its guidance to nan move, particularly successful ray of nan escalated subject activity successful nan past 72 hours, was ignored by nan IMF. And by nan Western world.

In a statement, nan Finance Ministry said, “India raised concerns complete nan efficacy of IMF programmes successful lawsuit of Pakistan fixed its mediocre way record, and besides connected nan anticipation of misuse of indebtedness financing costs for authorities sponsored transverse separator terrorism. Pakistan has been a prolonged borrower from nan IMF, pinch a very mediocre way grounds of implementation and of adherence to nan IMF’s programme conditions.

The connection besides pointed retired that Pakistan had been rescued by nan IMF 28 times successful nan 35 years since 1989. Since 2019, 4 IMF programmes person brought backmost Pakistan from nan financial brink. The Finance Ministry pointed out, “Had nan erstwhile programmes succeeded successful putting successful spot a sound macroeconomic argumentation environment, Pakistan would not person approached nan Fund for yet different bailout programme.”

Tacit Approval By G-7 Nations

The G-7 countries – USA, Japan, Germany, France, UK, Italy and Canada were handed nan power nan Bretton Woods institutions IMF and nan World Bank successful nan post-World War II financial landscape. Today nan G-5 (US, Japan, Germany, France and nan UK) person 36 per cent ballot stock successful nan IMF. Canada and Italy are portion of federation groupings which usually ballot en-masse.

China has nan 3rd largest ballot stock successful nan IMF Executive Board decisions – 6.08 per cent. Pakistan is portion of group pinch 2.44 per cent ballot weightage.

India is portion of a 4-nation group which has a full weightage of 3.05 per cent.

IMF Move Raises Eyebrows

The $2.4-bn money infusion couldn’t person travel astatine a much opportune clip for Pakistan. Like galore times before, nan state is teetering connected nan fiscal cliff again. Its measure for nan existent conflict pinch India and for its continued patient support of panic is moving high. The PKR 68,000-crore cheque by IMF gives Pakistan a agelong leash to unleash much terror.

Questions are being asked. Why did nan G-7 move a unsighted oculus to India’s concerns? India was connected a negotiated overdrive since nan massacre successful Pahalgam. Why did nan IMF Executive Board disregard Pakistan’s panic links and o.k. not only nan $1-bn backing but awarded Islamabad pinch a $1.4-bn ‘bonus’? And, arsenic successful galore lawsuit earlier, could nan IMF person not stepped into much contention and deferred nan ballot by a fewer weeks?

West Ignores Terror?

For astir of its world audience, nan Pahalgam massacre still remains a ‘militant’ activity, not 1 linked to terrorists. The logic perhaps, is nan biggest ‘opinion influencers’ of nan world, nan mostly of G-7 countries, stay mostly untouched by nan scourge of terror. Except nan U.S.

The United States has knowledgeable nan highest coercion decease toll among G-7 nations complete nan past 4 decades. From 1979 done April 2024, nan United States suffered much than 60 violent attacks resulting successful astir 5,500-6,000 deaths.

The biggest, of course, were attacks connected September 11, 2001, which unsocial claimed astir 3,200 lives.

For nan United Kingdom, panic was home-grown. In nan pre-2000 era, nan UK was severely afflicted by panic attacks arising retired of nan Northern Ireland conflict (The Troubles). However, successful caller years, Islamist extremism has taken over.

The astir devastating onslaught Canada has seen was nan 1985 bombing of Air India Flight 182 claimed 329 lives. Perpetrators of this attack, linked to Pakistan, proceed to unrecorded freely successful Canada.

The effect of coercion connected nan different G-7 members - France, Germany, Italy and Japan has been miniscule successful comparison – perchance nan logic why their ballot successful nan IMF was bereft of nan heavy sentiments India projected.

Published on: May 10, 2025 3:57 PM IST