Latest news with #ExtendedFundFacility
Mint
23-05-2025
- Business
- Mint
India cautions IMF on Pakistan's ₹8,000 crore bailout: ‘Arms purchases surge with every loan'
India on Friday reiterated its concerns over the International Monetary Fund (IMF) releasing over ₹ 8,000 crore bailout package to Pakistan. New Delhi cautioned the financial agency that Pakistan's 'arms purchase spikes with every loan' it gets from the global lender, Reuters reported sources as saying. India's push to IMF came as the global lender informed that its executive board granted $1 billion in assistance to Pakistan this month. Defence Minister Rajnath Singh on May 16 had pressed the IMF to reconsider the financial assistance, saying Islamabad could use a large part of it to fund the terrorist infrastructure. Justifying the bailout package, IMF in statement said the latest installment was released after finding out that Islamabad had indeed 'met all the required targets'. The latest bailout for Pakistan is part of a broader support package under the Extended Fund Facility program which was approved in September 2024. Pakistan has so far received approximately $2.1 billion of the $7 billion it will get from the global lender. Julie Kozack – IMF's director of the communications department – said that Islamabad met all the targets and made progress on some of the reforms. Also Read | IMF slaps 11 new conditions on Pakistan against its billion-dollar bailout scheme 'Our Board found that Pakistan had indeed met all of the targets. It had made progress on some of the reforms, and for that reason, the Board went ahead and approved the program,' Julie Kozack said. She said, 'The first review was planned for the first quarter of 2025. And consistent with that timeline, on March 25 of 2025, the IMF staff and the Pakistani authorities reached a staff-level agreement on the first review for the EFF. That agreement, that staff-level agreement, was then presented to our Executive Board, which completed the review on May 9. As a result, Pakistan received the disbursement at that time.' The 'grey list' of the FATF means a country or a jurisdiction is subject to increased monitoring. Pakistan was taken off the FATF grey list in 2022, boosting its reputation among lenders - which is essential for the crisis-hit economy. It may be recalled that on 9 May, the IMF approved the immediate disbursement of about $1 billion to Pakistan under the ongoing Extended Fund Facility.
Mint
10-05-2025
- Business
- Mint
IND-PAK News, Operation Sindoor LIVE: India-Pakistan agree to stop all firing and military action on land, air and sea
10 May 2025, 06:28 PM IST India-Pakistan News LIVE: Special briefing defence ministry on Operation Sindoor to begin shortly | WATCH 10 May 2025, 06:22 PM IST India-Pakistan News LIVE: Union Minister of External Affairs S Jaishankar on Saturday posted, 'India and Pakistan have today worked out an understanding on stoppage of firing and military action. India has consistently maintained a firm and uncompromising stance against terrorism in all its forms and manifestations. It will continue to do so.' 10 May 2025, 06:11 PM IST India-Pakistan News LIVE: Russia has assured full support to India in its fight to against all manifestations of terrorism and promised to promptly fulfil military orders in the pipeline, Union Minister of State for Defence Sanjay Seth said. The MoS represented India at the 80th anniversary of the Soviet Union's victory over Nazi Germany in the Second World War. While in Moscow, he called on Russian Deputy Defence Minister Col Gen Alexander Fomin to discuss deepening military and technical cooperation, news agency PTI reported. Read 10 May 2025, 05:55 PM IST India-Pakistan News LIVE: AIMIM chief Asaduddin Owaisi on Saturday slammed International Monetary Fund (IMF) for approving the immediate disbursement of about $1 billion to Pakistan under the ongoing Extended Fund Facility amid escalated tensions with India. WATCH The Hyderabad Member of Parliament (IMF) labelled IMF as 'International Militant Fund' for helping a country that has been accused of backing and funding terrorism activities in India. 10 May 2025, 05:52 PM IST India-Pakistan News LIVE: Indian Army is retaliating strongly opposite the Jammu sector in view of the drone attacks on Indian cities by the Pakistan Army along the Line of Control (LoC) and International Border (IB), defence sources told ANI. 10 May 2025, 05:17 PM IST India-Pakistan News LIVE: A Gujarat police officer told ANI that strong arrangements have been made throughout South Gujarat to secure the seafront, and that officials are 'patrolling sensitive areas.' 10 May 2025, 05:15 PM IST India-Pakistan News LIVE: " We were sleeping, it happened around 6 here have been fully people died. We are with PM Modi and our armed forces..." a local from Poonch told ANI. 10 May 2025, 05:09 PM IST India-Pakistan News LIVE: The Indian Air Force (IAF) struck military targets in Rafiqui, Murid, Chaklala, Rahim Yar Khan, Sukkur, Chunian, Pasrur, and Sialkot areas of Pakistan, the Ministry of Defence (MoD) said. 10 May 2025, 04:44 PM IST India-Pakistan News LIVE: Delhi Police has intensified its emergency preparedness efforts, including identifying basements that can serve as shelters during air raids and compiling a list of children and elderly residents to ensure swift evacuation. 10 May 2025, 04:27 PM IST India-Pakistan News LIVE: Karnataka CM Siddaramaiah has called meeting to take stock of internal security, state govt officials told ANI. 10 May 2025, 04:26 PM IST India-Pakistan News LIVE: A loitering munition fired by Pakistan, in a village near Jammu, was destroyed by the bomb disposal squad of security forces and NSG (National Security Guard) 10 May 2025, 04:03 PM IST India-Pakistan News LIVE: As per top government officials, India has decided that 'any future act of terror will be considered an Act of War against India and will be responded accordingly'. 10 May 2025, 03:42 PM IST India-Pakistan News LIVE: Reportedly, a 'missile-like object' landed deep inside the Dal Lake after loud explosions rocked the city today morning. Smoke bellowed from the surface of the lake when the object landed, officials told PTI. 10 May 2025, 03:30 PM IST India-Pakistan News LIVE: Jammu and Kashmir's ex-CM Mehbooba Mufti said instead of 'inconsistent international support,' India 'should embrace its leadership role in the subcontinent and take the first step to de-escalate.' Mehbooba Mufti's post 10 May 2025, 03:23 PM IST India-Pakistan News LIVE: India's Operation Sindoor reportedly eliminated five individuals who were affiliated with either Lashkar-e-Taiba or Jaish-e-Mohammed. Here's the full list and details of their funeral. 10 May 2025, 03:11 PM IST India-Pakistan News LIVE: An unidentified projectile debris was spotted in Rajasthan's Barmer. Probe is currently underway. Here's a glimpse 10 May 2025, 03:06 PM IST India-Pakistan News LIVE: AIMIM chief Asaduddin Owaisi said: 'It is a matter of great sorrow that those who broke and left this country, have left no stone unturned for the last 75 years to weaken India, to create conflict between Hindus and Muslims, and to destabilise India.' 10 May 2025, 03:00 PM IST Punjab CM Bhagwat Mann assured that the state is fully prepared amid the ongoing conflict. Mann told ANI, ".We were prepared has fought at the front earlier too, and this time too, Punjab will lead from the front. Those who got injured in Ferozepur incident (family of 3 injured in Pakistan drone attack), have been admitted to the hospital. Minister Cheema has gone there...I will visit those areas tomorrow where missiles have been found. I will meet the people. Do not panic, there is no need to store anything..." 10 May 2025, 02:33 PM IST Mohammad Hassan Khan is affiliated with Jaish-e-Mohammed. Khan was the son of Mufti Asghar Khan Kashmiri, operational commander of JeM. He was involved in coordinating terrorist attacks in Jammu & Kashmir, ANI reported. Livemint could not independently verify this development. 10 May 2025, 02:29 PM IST Khalid is affiliated with Lashkar-e-Taiba. He was engaged in multiple terrorist attacks in Jammu & Kashmir and was involved in the smuggling of weapons from Afghanistan. His funeral was attended by senior Pakistani Army officials and the Deputy Commissioner of Faisalabad, ANI reported. Livemint could not independently verify this development. 10 May 2025, 02:21 PM IST Mohammad Yusuf Azhar is affiliated with Jaish-e-Mohammed. He is the brother-in-law of Maulana Masood Azhar and wanted in the IC-814 hijacking case, ANI reported. He was among the terrorists killed during the ongoing conflict between India and Pakistan. Livemint could not independently verify this development. 10 May 2025, 02:19 PM IST Hafiz Muhammed Jameel, affiliated with Jaish-e-Mohammed, was killed during the conflict. He is the eldest brother-in-law of Maulana Masood Azhar, leader of Jaish-e-Mohammed, ANI reported. Livemint could not independently verify this development. 10 May 2025, 02:16 PM IST Mudassar Khadian Khas, who was affiliated with Lashkar-e-Taiba, was killed during the conflict. His funeral prayer was led by Hafiz Abdul Rauf of JuD, a designated global terrorist. A serving Lt. General of the Pakistan Army and the IG of Punjab Police attended the ceremony, ANI reported. Livemint could not independently verify this development. 10 May 2025, 02:12 PM IST The Ministry of External Affairs and the Ministry of Defence will conduct another press briefing today at 5:30 pm. This is the second press briefing on Saturday following the Pakistani attack on Friday night. 10 May 2025, 02:07 PM IST Here are the names of terrorists killed amid the ongoing tensions, according to ANI, citing people aware of the development. 1) Mudassar Khadian Khas 2) Hafiz Muhammed Jameel 3) Mohammad Yusuf Azhar 4) Khalid 5) Mohammad Hassan Khan 10 May 2025, 02:05 PM IST Prime Minister Narendra Modi conducted a meeting with Defence Minister Rajnath Singh, NSA Ajit Doval, CDS and Chiefs of all three Services, ANI reported. 10 May 2025, 01:43 PM IST 'Yesterday what Pakistan did actually conveys a very clear signal to all of us and to the rest of the world that they actually stand with the terrorist, not with the rest of the civilized world', Vinay Mohan Kwatra, Ambassador of India to U.S.A, while speaking to CBS News' Shanelle Kaul,' posts Ministry of Information and Broadcasting. 10 May 2025, 01:40 PM IST | On India-Pakistan tension, Former Senior Diplomat, Yogendra Kumar says, "Operation Sindoor was the first attack we did on Pakistan to take revenge for the atrocities they committed in Pahalgam... The response that Pakistan then made was an escalation... On the international border, innocent lives have been lost and intense firing is increasing, so India has to respond to that clearly because it is a matter of national defence... The idea is that the military is ready to respond to anything and there is a proactiveism in diplomacy on the part of India at the highest level... The issue basically is terrorism... A statement was made at the UN that we have to fight terrorism. The world has to come together to see that what is so obvious... Where is Pakistan? Is it actually cooperating?... Everybody tells us to de-escalate, while we are only responding... We hope that with this international pressure, Pakistan will understand..." (09.05) 10 May 2025, 01:29 PM IST Dehradun | Uttarakhand CM Pushkar Singh Dhami chaired a meeting on the current situation in view of India-Pakistan tension. The Chief Secretary, Home Secretary, DGP, and other senior officials attended this meeting. District Magistrates and SPs of all the districts of the state also attended through videoconferencing. In this meeting, the ongoing Chardham Yatra in the state was also reviewed. 10 May 2025, 01:20 PM IST Announcements are being made in Rajasthan's Jaisalmer, appealing people to remain in their houses. "...Everything will remain closed. Seeing the current situation, all are expected to stay home, and vehicular movements are also stopped..." 10 May 2025, 01:13 PM IST India on Saturday categorically rejected Pakistan's malicious misinformation campaign, which falsely claimed the destruction of critical Indian military assets and infrastructure. Addressing a joint press conference by the Ministry of External Affairs and the Ministry of Defence on Operation Sindoor, Wing Commander Vyomika Singh highlighted Pakistan's attempts to spread disinformation about damage caused to the S-400 system at Adhampur, airfields at Suratgarh and Sirsa, Brahmos space at Nagrota, and artillery-gun positions in Dehrangyari and Chandigarh, among other allegations. (ANI) 10 May 2025, 01:05 PM IST Officials have asked residents of Jaisalmer to remain at home amid security concerns in the region, ANI reported. 10 May 2025, 12:56 PM IST Congress MP Gaurav Gogoi has criticised the approval of $1 billion loan to Pakistan. In a post on X, Gogoi wrote, 'The IMF Board comprises of 25 member countries such as US, Japan, Australia , Germany , France, UK , Italy and Israel. The approval of $1 billion loan after the Pakistan-sponsored Pahalgam attack is shocking and disappointing. The loan will only perpetuate the rule of the army over the state.' 10 May 2025, 12:48 PM IST Rajasthan CM Bhajanlal Sharma chaired an all-party meeting in Jaipur to assess the situation bordering districts of the state, ANI reported. 10 May 2025, 12:40 PM IST Former Defence Minister AK Antony has appreciated the Indian Army and asked the entire country to unite. While speaking to ANI, he said, 'Our armed forces heroically fight this situation and even at the cost of sacrificing their lives, they are fighting to protect the integrity of the country. The need of the hour is that the entire country, the entire India, rise above politics, religion, and caste. The country must stand united with the armed forces. As far as Kerala is concerned, the government and Kerala society must visit the families of Army personnel. We must reassure them that all of us are with them.' 10 May 2025, 12:33 PM IST Amid the growing conflict between India and Pakistan, Haryana CM Nayab Singh Saini conducted a special meeting to discuss the current situation. The Chief Secretary, Home Secretary, and other senior officials attended the meeting, while Commissioners, District Collectors, and others across states joined through videoconferencing. 10 May 2025, 12:26 PM IST The Defence Minister of Pakistan, Khawaja Asif, stated that there is no meeting of the National Command Authority, Pakistan's top body overseeing its nuclear arsenal, news agency Reuters reported. Livemint could not independently verify this development. 10 May 2025, 12:12 PM IST Fresh blasts were reported in Srinagar on Saturday, as per locals. 10 May 2025, 12:04 PM IST Following a conversation with US Secretary of State Marco Rubio, External Affairs Minister S Jaishankar stated that India's approach has been responsible. In a post on X, Jaishankar wrote, 'Had a conversation with US @SecRubio this morning. India's approach has always been measured and responsible and remains so.' 10 May 2025, 11:54 AM IST The Indian Army, in a post on X, shared visuals of destroyed launchpads located near the LoC. 10 May 2025, 11:46 AM IST 'Pakistani claims continue to be heavy on lies, misinformation, propaganda,' Foreign Secretary Vikram Misri said during the press briefing on Saturday. 10 May 2025, 11:40 AM IST During the press briefing on Saturday, Colonel Sofiya Qureshi informed that Pakistan is misusing international air routes. "It is a matter of concern that taking the cover of civilian aircraft taking off from Lahore, Pakistan misused international air routes. So that they can hide their activities. Such tactics compelled Indian air defence system to act with great patience while ensuring civilian security..." Qureshi said. 10 May 2025, 11:28 AM IST US Secretary of State Marco Rubio spoke to External Affairs Minister S Jaishankar. Rubio urged both India and Pakistan to identify methods to de-escalate and re-establish direct communication to avoid miscalculation. He also proposed US support in conducting productive discussions, US Department of State spokesperson Tammy Bruce said in a statement released on Saturday, May 10. 10 May 2025, 11:22 AM IST Indicating further escalation of the conflict, Wing Commander Vyomika Singh said, "...Pakistan Army has been observed to be moving its troops towards forward areas, indicating an offensive intent to further escalation. Indian armed forces remain in a high state of operational readiness, and all hostile actions have been effectively countered and responded proportionately. Indian armed forces reiterated their commitment to non-escalation, provided the Pakistan side reciprocates." 10 May 2025, 11:15 AM IST Speaking about civilian casualties, Foreign Secretary Vikram Misri informed, "Earlier this morning, Pakistan shelled the town of Rajouri, killing the Additional District Development Commissioner Raj Kumar Thapa, adding to the civilian casualties and the damage in that state..." 10 May 2025, 11:05 AM IST Foreign Secretary Vikram Misri informed that Pakistan has targeted civilians and civilian infrastructure in India, especially in Jammu and Kashmir, Punjab. 10 May 2025, 11:01 AM IST Col Sofiya Qureshi said, "Pakistani army is continuously attacking the western borders; it has used drones, long-range weapons, loitering munitions and fighter jets to attack India's military sites... India neutralised many dangers, but Pakistan tried to infiltrate via Air at more than 26 places, and they damaged our equipment and personnel at air force bases in Udhampur, Bhuj, Pathankot, Bathinda. They used high-speed missiles at 1:40 am to target Punjab's air base. They even attacked health facilities and schools..." 10 May 2025, 10:57 AM IST Foreign Secretary Vikram Misri says, "I have said on numerous earlier occasions, it is Pakistani actions that have constituted provocations and escalations. In response, India has defended and reacted in a responsible and measured fashion to these provocations and escalations by the Pakistani side. Earlier this morning, we saw a repeat of this escalatory and provocative pattern." 10 May 2025, 10:56 AM IST The MEA press conference begins. 10 May 2025, 10:54 AM IST The Ministry of Defence in a post on X wrote, 'Pakistan continued its hostilities on 10 May 2025 by targeting places of worship like the famous Shambhu Temple and residential areas in Jammu. Multiple armed drones have been sent through the night, endangering civilians and religious sites. The Indian Armed Forces remain vigilant and are committed to defending the sovereignty of the nation.'
Mint
10-05-2025
- Business
- Mint
India-Pak Tensions: Asaduddin Owaisi slams IMF for ‘bailing out' Pakistan – ‘International Militant Fund'
India-Pak Tensions: AIMIM chief Asaduddin Owaisi on Saturday slammed International Monetary Fund (IMF) for approving the immediate disbursement of about USD 1 billion to Pakistan under the ongoing Extended Fund Facility amid escalated tensions with India. The Hyderabad Member of Parliament (IMF) labelled IMF as 'International Militant Fund' for helping a country that has been accused of backing and funding terrorism activities in India. 'They are official beggers. They took a loan from the IMF of $1 billion. IMF is not the International Monetary Fund; they are giving the International Militant Fund to Pakistan,' Owaisi said. The International Monetary Fund (IMF) on Friday approved the immediate disbursement of about USD 1 billion to Pakistan under the ongoing Extended Fund Facility. "How did the USA, Germany, and Japan agree to this?... Forget leadership, they (Pakistan) don't even know how to run an economy. You people are sitting there and telling us what Islam is, but all you have are wrong policies to spoil the peace here and create conflict between Hindus and Muslims..." Owaisi said. In a statement, the Washington-based global lender said its Executive Board concluded the initial review of Pakistan's economic reform programme under the Extended Fund Facility (EFF) arrangement. "This decision allows for an immediate disbursement of around USD 1 billion (SDR 760 million), bringing total disbursements under the arrangement to about USD 2.1 billion (SDR 1.52 billion)," the agency said. Owaisi slammed Pakistan for its supprt to terrorism in India and elsewhere. At the IMF, India pointed out that Pakistan has been a frequent borrower from the IMF, with disbursements in 28 of the past 35 years. 'In the last five years alone, there have been four IMF programmes. Had the previous programs succeeded, Pakistan would not have needed yet another bailout,' India stated, questioning whether the fault lies in 'the effectiveness of the IMF program designs, their monitoring, or their implementation by Pakistan,' India said.
News18
10-05-2025
- Politics
- News18
Rahim Yar Khan Airbase In Tatters As India Retaliates Against Pakistan's Aggression
Last Updated: Indian armed forces struck Pakistani military airbases in retaliation for unprovoked escalation by Pakistan on Friday night. Rahim Yar Khan airbase was among those destroyed. As the Indian armed forces struck military targets in Pakistan in retaliation for unprovoked escalation on Friday night, visuals surfaced showing Rahim Yar Khan airbase in tatters. The video accessed by CNN-News18 depicted chandeliers hanging by a thread, the building completely destroyed, doors broken, and debris scattered on the floor. This comes as India responded strongly to Pakistan's offensive last night when the Pakistani military sent drones and six ballistic missiles into India, aiming to destroy the Indian military sites and cause civilian casualties. All their projectiles were shot down midair by India's air defence systems, averting a possible catastrophe. First visuals show Pakistan's Rahim Yar Khan airbase in tatters after India's retaliatory strike'Rahim Yar Khan is an important military base, and an important target for us": Lt Gen (R) Shankar P, Ex-DG, Infantry @RShivshankar | #OperationSindoor #IndiaPakistanTensions … — News18 (@CNNnews18) May 10, 2025 'In a swift and calibrated response, Indian armed forces carried out a precision strike only at identified military targets. These included technical infrastructure, command and control centre, radar sites, and weapon storage areas. Pakistan military targets at Murid, Chaklala (Rawalpindi), Rahim Yar Khan, Sukkur, and Sunia were engaged using air-launched precision weapons from our fighter aircraft. Radar sites at Pasrur and Sialkot aviation base were also targeted using precision munitions," Wing Commander Singh said at a joint press briefing with Foreign Secretary Vikram Misri earlier in the day. Last night, India's projectiles hit Pakistan's air force bases in Nur Khan Airbase in Rawalpindi, Rafiqi Airbase in Punjab's Shorkot, and Murid Airbase in Punjab's Chakwal. Strikes were also carried out in Islamabad, Lahore, and Rawalpindi, among others. The Pakistanis escalated the offensive on Friday night shortly after the IMF, the global moneylender, approved the immediate disbursement of about $1 billion to Islamabad under the ongoing Extended Fund Facility, despite India's objection to the funds that were being used to spread terrorism on the Indian side of the border. First Published: May 10, 2025, 14:50 IST
News18
10-05-2025
- Business
- News18
US Secy Of State Rubio Dials Pakistan Army Chief Asim Munir After Ballistic Missiles Fired At India
Last Updated: Pakistan fired a number of ballistic missiles at India, one of them was aimed at New Delhi. All of them were taken down by the Indian military. US Secretary of State Marco Rubio dialled Pakistani army chief Asim Munir after Islamabad resorted to launching Ballistic missiles aimed at New Delhi, shortly after an IMF bailout of $1 billion was approved for Pakistan, Reuters reported. Pakistan went on an unprecedented offensive soon after the global moneylender nodded the immediate disbursement of about $1 billion to Islamabad under the ongoing Extended Fund Facility, despite India's strong opposition to these funds that were being used to spread cross-border terrorism. State Department Spokesperson Tammy Bruce said that Rubio urged both India and Pakistan to de-escalate and offered US assistance in talks. 'Secretary of State Marco Rubio spoke with Pakistani Army Chief Asim Munir earlier today. He continued to urge both parties to find ways to deescalate and offered U.S. assistance in starting constructive talks in order to avoid future conflicts," Bruce said in a statement. Pakistan, which initially fired small drones into the Indian territory before the IMF executive board meeting, stepped up the attack and fired six ballistic missiles at India, one of them aimed at New Delhi but was shot down in Haryana's Sirsa. All of the missiles were successfully shot down, sources said. Escalating the situation, Pakistan launched Fatah-II ballistic missiles at Indian Air Force forward bases and cities in India as they launched 'Operation Bunyanun Marsoos' on Saturday. The Indian government sources said that Pakistan dared to set on the misadventure after the IMF bailout, as they did not want to jeopardise the deal. 'Pakistan did not want its IMF bailout to be jeopardised in any way. Hence, their big escalation has come post that. Pakistan also cleared its airspace on Saturday morning, unlike Friday, indicating it waited for the IMF bailout before launching its big operation, which has been foiled by India," sources said. Responding efficiently to Pakistan's unprovoked attack, India struck back at multiple key cities, including Islamabad, Lahore, Rawalpindi, among others. India, under Operation Sindoor, hit Pakistan's air force bases in Nur Khan Airbase in Rawalpindi, Rafiqi Airbase in Punjab's Shorkot, and Murid Airbase in Punjab's Chakwal, inflicting major losses to Pakistan's military arsenal. First Published: May 10, 2025, 08:45 IST
