India has requested the International Monetary Fund (IMF) to reassess the financial assistance it has provided to Pakistan, Reuters reported on Friday citing a senior Indian government official.
This move comes in the wake of rising tensions between the two nuclear-armed neighbors following an attack in Indian Illegally Occupied Jammu and Kashmir (IIOJK) that killed 26 people last week.
Both countries have taken a series of actions in response to the incident, fueling concerns that the crisis could intensify into a broader military confrontation.
Earlier this week, the International Monetary Fund (IMF) formally notified that the Executive Board meet to discuss the first review of ongoing $7 billion bailout program as well as a new $1.3 billion arrangement under a climate resilience loan program on May 9.
India has expressed concerns over these IMF loans, urging a review, according to the official, though no further details were provided. Reuters said neither the IMF nor India’s finance ministry has commented on the matter so far.