May 9 is a crucial date for Pakistan, not just because of rising tensions with India, but also due to an important meeting with the IMF.
Just two days after India carried out Operation Sindoor striking nine terror camps in Pakistan and Pakistan-occupied Kashmir, Pakistan is set to face the IMF's executive board to review its Extended Funding Facility (EFF).
The country is hoping to unlock an additional $1.3 billion in loans amid a worsening economic crisis.
India, however, has formally asked the IMF to reconsider its financial support to Pakistan. A senior Indian official told Reuters that the concern is Pakistan may be using internal funds freed up due to international aid for military and intelligence purposes, including support for terror groups like Lashkar-e-Taiba (LeT) and Jaish-e-Mohammed (JeM).
The IMF review will check whether Pakistan has met key reform goals required to receive more funding. In total, Pakistan has already received a $7 billion bailout in 2023 and another $1.3 billion in 2024, critical amounts for a struggling economy worth about $350 billion.
