So, like, on May 9th, Pakistan was all like, “Hey, IMF, can we get some cash?” And the IMF was all, “Sure, here’s $2.1 billion for you,” with $1 billion under the Extended Fund Facility and $1.4 billion under the Resilience and Sustainability Facility. Cool, right?
But, let’s not forget that on the same day, India and Pakistan were having a bit of a tiff with missiles and drones flying over the border. Talk about awkward timing. India didn’t even vote on the IMF loan thing, raising concerns about Pakistan’s history of not following IMF rules and the possibility of funds being used for some not-so-great activities. Drama, drama, drama.
Despite all the military tension, the IMF was like, “Hey, Pakistan is doing pretty well with their economy and stuff, so here’s some money.” And then, magically, a ceasefire was agreed upon, starting on May 10th at 5:00 PM IST. But, you know how these things go, both sides still accused each other of breaking the truce. Classic.