Asia Pacific News
LAST UPDATE: May 18, 2025
India asks IMF to reconsider Pakistan program over ‘terror funding’
AFP (via Barron’s)
Indian Defence Minister Rajnath Singh urged the International Monetary Fund to reconsider a $1 billion loan to Pakistan, citing concerns over Pakistan’s alleged support for terrorism. Singh emphasized that international financial institutions should not fund countries that support terrorism, highlighting India’s longstanding accusations against Pakistan in this regard.
Insight
India’s appeal to the IMF reflects ongoing regional tensions and attempts to leverage international institutions to address security concerns.
India’s forex reserves hit seven-month peak
Reuters
India’s foreign exchange reserves rose for the second consecutive week, reaching $630.6 billion as of January 31, 2025, according to the Reserve Bank of India. This increase is attributed to the central bank’s interventions in the forex market and the appreciation of foreign assets held in the reserves.
Insight
The growth in forex reserves indicates a strengthening of India’s external financial position, providing a buffer against global economic uncertainties.
Indonesia inaugurates $600m oil and gas projects
AFP
Indonesian President Prabowo Subianto inaugurated two offshore oil and gas projects operated by Medco E&P Natuna in the South Natuna Sea, aiming to produce 20,000 barrels of oil per day.
Insight
The inauguration of these projects marks a significant step towards Indonesia’s goal of energy self-sufficiency and aligns with its broader strategy to phase out coal power and achieve net-zero emissions by 2050.
