 "Leaving the IMF and World Bank would mean losing a major source of global influence and economic power for the US. Reuters/File Photo")
Michael Rubin, a military strategist at the conservative-leaning American Enterprise Institute, criticised the Trump administration for supporting a $1 billion IMF bailout for Pakistan, especially when Pakistan is accused of sponsoring terrorism as state policy, according to a report by The Times of India.
“By sending money to Pakistan, the IMF is also effectively bailing out China. Pakistan is now a satrapy of China. Its Gwadar port was the first pearl in China’s string, and the China-Pakistan Economic Corridor has left Islamabad $40 billion in debt,” Rubin told TOI.
“There’s no way Pakistan’s military can cover up the fact that they didn’t just lose, but lost very badly,” Rubin said in a video, slamming Islamabad’s propaganda after Indian strikes hit key Pakistani air bases and military sites.
In an opinion piece on Wednesday, Rubin criticised the US for not blocking the IMF’s $1 billion bailout to Pakistan, calling it one of the “world’s most corrupt countries.” He also pointed out that the IMF approved the funds shortly after Pakistan-based terrorists crossed into India and executed non-Muslims in front of their families.
Despite India’s objections, the International Monetary Fund (IMF) approved the $1 billion loan as part of its $7 billion bailout programme for Pakistan.
India abstained from the IMF vote, warning that the money could be misused to fund cross-border terrorism. Indian officials also criticised Pakistan’s poor record on reforms and warned that the IMF’s decision could damage its own credibility.
Impact Shorts
More ShortsThere are also growing concerns about Pakistan’s rising debt to China, mainly because of the China-Pakistan Economic Corridor (CPEC). By 2023, Pakistan’s external debt had exceeded $131 billion, with $30 billion owed to China.