Amid the intensifying conflict following India’s ‘Operation Sindoor’, Pakistan’s government has made a formal appeal for increased loans from international partners.
The Economic Affairs Division of Pakistan made the request through its verified account on the social media platform X.
The post read, “Govt of Pakistan appeals to International Partners for more loans after heavy losses inflicted by the enemy. Amid escalating war and stocks crash, we urge international partners to help de-escalate. Nation urged to remain steadfast.”
The ongoing military operations have severely impacted Pakistan’s economy, driving up debts and causing a significant decline in stock market performance.
As of the latest figures, Pakistan’s outstanding debt to the IMF stood at approximately USD 8.8 billion, making it the fourth-largest debtor to the global financial institution.
Pakistan’s stock market indices, particularly the KSE-100 index, have dropped more than 7,500 points, or 6%, since the conflict escalated on April 23.
On May 7-8, Pakistan’s military attempted to launch a large-scale drone and missile attack on multiple Indian military installations across Northern and Western India.
However, India’s Integrated Counter-UAS Grid and Air Defence systems successfully neutralised the threats, preventing significant damage.
Indian Armed Forces spokesperson Colonel Sofiya Qureshi confirmed the neutralisation of these attacks and stated that India had retaliated by targeting multiple air defence radars and systems across Pakistan, including an air defence system at Lahore.
“The Indian Armed Forces targeted Air Defence Radars and systems at a number of locations in Pakistan. We have neutralised the threats with the same intensity and in the same domain as Pakistan’s attempts,” Colonel Qureshi said during a Ministry of External Affairs press briefing.
In continuation of escalating tensions, on the night of May 8-9, Pakistan launched additional drone attacks and ceasefire violations along the Line of Control (LoC) and the western border.
The Indian Army swiftly repelled these attacks and issued a strong warning. “The drone attacks were effectively repulsed and a befitting reply was given to the ceasefire violations,” stated an Indian Army spokesperson.
The Indian Army remains committed to safeguarding the country’s territorial integrity and sovereignty.
Earlier on May 8, the Indian Army had shot down more than 50 Pakistani drones in a large-scale counter-drone operation along the LoC and International Border.
This continued show of force, therefore, underscores India’s resolve to maintain the security of its borders amidst Pakistan’s provocative actions.
As tensions between the two nations remain high, Pakistan’s plea for international support highlights the dire economic and military situation it faces.
As a result, the escalation in military confrontations and the ongoing economic challenges underscore the volatile nature of the region, with both countries now locked in a cycle of retaliation.
These developments are set to impact regional stability and global geopolitics, with key international players closely watching the situation.
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