‘Can mobilise a billion faster than you beg’: Indian VC firm founder slams Pakistani spin over ‘IMF win’ 

An Indian VC founder has slammed Pakistan’s narrative of India's 'humiliating defeat' at the International Monetary Fund (IMF) on May 9, which approved the immediate disbursement of about $1 billion to it under the ongoing Extended Fund Faci­li­ty. 

In a post on X (formally Twitter), Rajeev Mantri, Founder and Managing Director of India-focused venture capital firm Navam Capital, said just a handful of businessmen in India have that much of amount lying around in their bank accounts. 

“You are a beggar. Your terrorist military-owned country will die a pig’s death. I am in a WhatsApp group with a bunch of other investors - 9 of us are collectively capable of mobilizing a billion dollars in lesser time than Pakistan if we apply ourselves to it,” Mantri wrote. 

“A handful of Indian businessmen from Guwahati and Jaipur have that much capital sitting in their bank accounts,” he added. 

The IMF had reviewed the extended fund facility (EFF) lending programme ($1 billion) and also considered a fresh resilience and sustainability facility (RSF) lending programme ($1.3 billion) for Pakistan. 

The move, which was made as the Pakistani military launched weapon-carrying drones and missiles at western Indian cities and military installations, brought the total disbursements under the arrangement to the cash-strapped country to about $2.1 billion. 

India told the IMF that Pakistan has been a “prolonged" borrower with a poor track record of implementation and adherence to programme conditions. Out of the last 35 years since 1989, the IMF has disbursed funds to Pakistan for 28 years, including four programmes in just the last five years without significant reform, it said. 

India also pointed out that rewarding continued sponsorship of cross-border terrorism sends a dangerous message to the global community, exposes funding agencies and donors to reputational risks, and makes a mockery of global values, according to the Indian finance ministry. 

Jammu and Kashmir Chief Minister Omar Abdullah on Saturday slammed the International Monetary Fund (IMF) for approving a fresh $1 billion loan to Pakistan amid heightening tensions with India. 

"I'm not sure how the "International Community" thinks the current tension in the subcontinent will be de-escalated when the IMF essentially reimburses Pakistan for all the ordnance it is using to devastate Poonch, Rajouri, Uri, Tangdhar & so many other places," Abdullah posted on X.