[ad_1]
India-Pakistan tensions: India on Friday raised concerns over IMF bailout packages and programs for Pakistan at the International Monetary Fund’s Executive Board meeting. “Pakistan has been a prolonged borrower from the IMF, with a very poor track record of implementation and of adherence to the IMF’s program conditions,” India said while abstaining from voting.The continuous financial assistance has resulted in Pakistan accumulating substantial debt, ironically positioning it as a ‘ too big to fail debtor’ for the IMF, India said.The IMF conducted a review today of Pakistan’s Extended Fund Facility (EFF) lending programme ($1 billion) whilst evaluating a new Resilience and Sustainability Facility (RSF) lending programme ($1.3 billion). India expressed reservations regarding the effectiveness of IMF initiatives for Pakistan, considering its inadequate historical performance. Additionally, India voiced apprehension about the potential diversion of debt financing resources towards state-backed terrorism across borders.“In the 35 years since 1989, Pakistan has had disbursements from the IMF in 28 years. In the last 5 years since 2019, there have been 4 IMF programs. Had the previous programs succeeded in putting in place a sound macro-economic policy environment, Pakistan would not have approached the Fund for yet another bail-out program. India pointed out that such a track record calls into question either the effectiveness of the IMF program designs in case of Pakistan or their monitoring or their implementation by Pakistan,” the Ministry of Finance release read.Also Read | Operation Sindoor: Can Pakistan economically afford a protracted conflict with India as tensions escalate? Here’s a reality checkIndia pointed out the extensive involvement of Pakistan’s military in economic matters significantly threatens policy implementation and reform sustainability. Despite civilian leadership being in power, the military maintains substantial influence over both political landscape and economic decisions, India said. A United Nations report from 2021 identified military-affiliated enterprises as the “largest conglomerate in Pakistan”.The scenario has intensified with the army now occupying a central position in Pakistan’s Special Investment Facilitation Council, it added.India raised concerns about the IMF’s assessment of Pakistan’s prolonged use of its resources, as detailed in IMF’s own evaluation report. The document acknowledged a common understanding that political factors significantly influence IMF’s lending decisions regarding Pakistan. India emphasised that providing financial support despite ongoing cross-border terrorism activities sends an inappropriate signal to the international community, potentially compromises the reputation of funding organisations and contributors, and undermines universal principles.Also Read | Big economic setback! Pakistan economy has more to lose than India – Moody’s warning amid ongoing tensionsAlthough numerous member nations shared apprehensions about the possible misallocation of fungible resources from international financial bodies like IMF towards military activities and state-backed terrorism, the IMF’s actions remain constrained by institutional protocols and technical requirements.“This is a serious gap highlighting the urgent need to ensure that moral values are given appropriate consideration in the procedures followed by global financial institutions. The IMF took note of the India’s statements and its abstention from the vote,” the Ministry of Finance statement said.
[ad_2]
Source link
About the author
Designing Thug Life: Amritha Ram on Styling Kamal Haasan
Costume design in Indian cinema often dances between fantasy and realism. But in Thug Life, Amritha Ram collaborates with cinematic icons Kamal Haasan and Mani Ratnam to craft a fashion-forward yet character-driven wardrobe that breaks norms. In an exclusive with ETimes, Amritha reveals how meticulous planning, storytelling, and visual language drove her designs. Tip 1: Collaboration Is the Key to Vision When asked what excited her most about working on Thug Life, Amritha simply said, “Two names: Kamal Haasan and Mani Ratnam.” The sheer reputation of these legends shaped her approach. Mani Ratnam was clear about the film’s visual tone—stripping away Bollywood glamor for something minimalistic yet powerful. “Mani sir guided me all the way. He knew exactly what he wanted,” she shared. Working with Kamal, who understands fabric, dyeing, and even costume history, was a learning curve. His feedback […]
If It Happened There: Donald Trump sends central troops to quell protests in opposition-ruled California | World News
[ad_1] Protesters confront police on the 101 Freeway near the Metropolitan Detention Center of downtown Los Angeles, Sunday, June 8, 2025, following last night's immigration raid protest. (AP Photo/Jae C. Hong) Note: The following piece is inspired by Joshua Keating’s If It Happened There which uses tropes and tones normally used by American media to describe events in other countries. The facts presented deal with as much exactitude and accuracy as an American media outlets’ reporting about a foreign country.Los Angeles, Mexican for the city of angels, is home to Hollywood – America’s answer to Bollywood – and a city where starstruck aspirants come with the dream of being immortalised on the silver screen. Yet, the city, which falls under America-administered California, an opposition state which overwhelmingly voted for Mr Donald Trump’s rival from the Democratic Party, Ms Kamala Harris, […]
Apple prepares for new ‘Games’ app as domain goes live ahead of WWDC 2025 keynote
[ad_1] Apple is expected to launch iOS 19 (or rumoured iOS 26) and one of new features that is reported to come is a new Apple Games app. Apple appears to be laying the groundwork for this new application, which is said to curate games from the App Store and Apple Arcade, as a domain purportedly leading to the platform has gone live.As per a report by 9to5mac, the company's new games.apple.com domain has just gone live. However, it is currently displaying a blank page, signaling imminent content.This shift from a "Safari Can’t Find The Server" error message to a blank white page strongly suggests Apple is preparing to push content to the URL very soon, potentially coinciding with the conclusion of the Worldwide Developers Conference (WWDC) keynote.What Apple’s new Games app is all aboutWhile the exact function of the […]
MS Dhoni inducted into ICC Hall of Fame | Cricket News
[ad_1] MS Dhoni, former India cricket captain, has been inducted into the ICC Cricket Hall of Fame, recognizing his extraordinary career spanning 16 years with 17,266 international runs, 829 dismissals and 538 matches across formats for India. The wicketkeeper-batsman revolutionized the sport through his unique playing style, tactical leadership and achievements including winning all three ICC men's white-ball titles as captain. "It is an honour to be named in the ICC Hall of Fame, which recognises the contributions of cricketers across generations and from all over the world. To have your name remembered alongside such all-time greats is a wonderful feeling. It is something that I will cherish forever," Dhoni said about his induction. Dhoni's journey began in 2004 when he made his ODI debut. Though he was dismissed for a duck in his first match, he soon announced his […]
160-million-year-old blue-stain fungi in China found to be harmful to trees |
[ad_1] In a groundbreaking discovery, researchers have uncovered 160-million-year-old blue-stain fungi fossils from the Jurassic Tiaojishan Formation in China. The new findings offer fresh insights into the ecological relationships between blue-stain fungi, plants, and insects during the Jurassic period. These fungi are generally nonfatal to their hosts but often accelerate tree mortality when associated with wood-boring insects.According to ScienceDaily, a Chinese team of scientists highlights the discovery of well-preserved blue-stain fungal hyphae within Jurassic fossil wood from northeastern China, pushing back the earliest known fossil record of this fungal group by approximately 80 million years.Know about the blue-stain fungi, deadly to treesBlue-stain fungi are known for their ability to colonize wood, particularly in conifer trees, causing characteristic discoloration in the sapwood. While these fungi do not decompose wood, they often cause considerable damage when associated with wood-boring insects. Their role […]
America burning: LA reels under anti-immigration protests for third straight day despite Trump’s National Guard order
[ad_1] Multiple Waymo taxis burn near the Metropolitan Detention Center of downtown Los Angeles, following last night's immigration raid protest. (Video credit: X) For the third night in a row, downtown Los Angeles became the epicentre of chaos and confrontation as protests against US President Donald Trump's immigration crackdown boiled over into violence, with police deploying tear gas, rubber bullets, and flashbangs to subdue demonstrators. Protesters set self-driving cars ablaze, blocked the 101 freeway, and clashed with law enforcement late into Sunday night, leaving parts of the city scorched and on edge.The flashpoint came after Trump took the extraordinary step of deploying the National Guard to California without the consent of the state's governor, an act not seen in decades. More than 300 troops arrived over the weekend, with 2,000 authorised and 500 US Marines on standby.Meanwhile, California governor Gavin […]
Related
Designing Thug Life: Amritha Ram on Styling Kamal Haasan
Costume design in Indian cinema often dances between fantasy and realism. But in Thug Life, Amritha Ram collaborates with cinematic icons Kamal Haasan and Mani Ratnam to craft a fashion-forward yet character-driven wardrobe that breaks norms. In an exclusive with ETimes, Amritha reveals how meticulous planning, storytelling, and visual language drove her designs. Tip 1: Collaboration Is the Key to Vision When asked what excited her most about working on Thug Life, Amritha simply said, “Two names: Kamal Haasan and Mani Ratnam.” The sheer reputation of these legends shaped her approach. Mani Ratnam was clear about the film’s visual tone—stripping away Bollywood glamor for something minimalistic yet powerful. “Mani sir guided me all the way. He knew exactly what he wanted,” she shared. Working with Kamal, who understands fabric, dyeing, and even costume history, was a learning curve. His feedback […]
If It Happened There: Donald Trump sends central troops to quell protests in opposition-ruled California | World News
[ad_1] Protesters confront police on the 101 Freeway near the Metropolitan Detention Center of downtown Los Angeles, Sunday, June 8, 2025, following last night's immigration raid protest. (AP Photo/Jae C. Hong) Note: The following piece is inspired by Joshua Keating’s If It Happened There which uses tropes and tones normally used by American media to describe events in other countries. The facts presented deal with as much exactitude and accuracy as an American media outlets’ reporting about a foreign country.Los Angeles, Mexican for the city of angels, is home to Hollywood – America’s answer to Bollywood – and a city where starstruck aspirants come with the dream of being immortalised on the silver screen. Yet, the city, which falls under America-administered California, an opposition state which overwhelmingly voted for Mr Donald Trump’s rival from the Democratic Party, Ms Kamala Harris, […]
Apple prepares for new ‘Games’ app as domain goes live ahead of WWDC 2025 keynote
[ad_1] Apple is expected to launch iOS 19 (or rumoured iOS 26) and one of new features that is reported to come is a new Apple Games app. Apple appears to be laying the groundwork for this new application, which is said to curate games from the App Store and Apple Arcade, as a domain purportedly leading to the platform has gone live.As per a report by 9to5mac, the company's new games.apple.com domain has just gone live. However, it is currently displaying a blank page, signaling imminent content.This shift from a "Safari Can’t Find The Server" error message to a blank white page strongly suggests Apple is preparing to push content to the URL very soon, potentially coinciding with the conclusion of the Worldwide Developers Conference (WWDC) keynote.What Apple’s new Games app is all aboutWhile the exact function of the […]
MS Dhoni inducted into ICC Hall of Fame | Cricket News
[ad_1] MS Dhoni, former India cricket captain, has been inducted into the ICC Cricket Hall of Fame, recognizing his extraordinary career spanning 16 years with 17,266 international runs, 829 dismissals and 538 matches across formats for India. The wicketkeeper-batsman revolutionized the sport through his unique playing style, tactical leadership and achievements including winning all three ICC men's white-ball titles as captain. "It is an honour to be named in the ICC Hall of Fame, which recognises the contributions of cricketers across generations and from all over the world. To have your name remembered alongside such all-time greats is a wonderful feeling. It is something that I will cherish forever," Dhoni said about his induction. Dhoni's journey began in 2004 when he made his ODI debut. Though he was dismissed for a duck in his first match, he soon announced his […]
160-million-year-old blue-stain fungi in China found to be harmful to trees |
[ad_1] In a groundbreaking discovery, researchers have uncovered 160-million-year-old blue-stain fungi fossils from the Jurassic Tiaojishan Formation in China. The new findings offer fresh insights into the ecological relationships between blue-stain fungi, plants, and insects during the Jurassic period. These fungi are generally nonfatal to their hosts but often accelerate tree mortality when associated with wood-boring insects.According to ScienceDaily, a Chinese team of scientists highlights the discovery of well-preserved blue-stain fungal hyphae within Jurassic fossil wood from northeastern China, pushing back the earliest known fossil record of this fungal group by approximately 80 million years.Know about the blue-stain fungi, deadly to treesBlue-stain fungi are known for their ability to colonize wood, particularly in conifer trees, causing characteristic discoloration in the sapwood. While these fungi do not decompose wood, they often cause considerable damage when associated with wood-boring insects. Their role […]
America burning: LA reels under anti-immigration protests for third straight day despite Trump’s National Guard order
[ad_1] Multiple Waymo taxis burn near the Metropolitan Detention Center of downtown Los Angeles, following last night's immigration raid protest. (Video credit: X) For the third night in a row, downtown Los Angeles became the epicentre of chaos and confrontation as protests against US President Donald Trump's immigration crackdown boiled over into violence, with police deploying tear gas, rubber bullets, and flashbangs to subdue demonstrators. Protesters set self-driving cars ablaze, blocked the 101 freeway, and clashed with law enforcement late into Sunday night, leaving parts of the city scorched and on edge.The flashpoint came after Trump took the extraordinary step of deploying the National Guard to California without the consent of the state's governor, an act not seen in decades. More than 300 troops arrived over the weekend, with 2,000 authorised and 500 US Marines on standby.Meanwhile, California governor Gavin […]
Be the first to leave a comment