After Pakistan, Bangladesh gets IMF money: Brahma Chellaney calls out American hypocrisy

India’s top geostrategist Brahma Chellaney has slammed the IMF’s latest $1.3 billion loan to Bangladesh, accusing the United States of once again using global financial tools to embolden regimes that undermine regional stability, while seeking to restrain India’s hand in dealing with cross-border terrorism.

In a strongly worded post on X, Chellaney wrote, “Two days after India's military campaign began, the US facilitated IMF approval of a $2.4 billion bailout for its ‘major non-NATO ally’ Pakistan and then, as Trump said, threatened trade suspension to compel India to cease its operation. Now, the US is set to bail out Bangladesh despite its increasing lurch toward Islamist authoritarianism.”

Chellaney’s remarks came as the IMF released two pending tranches worth $1.3 billion from Bangladesh’s $4.7 billion loan package. The disbursement, cleared this week after talks in Washington, had been delayed over Dhaka’s slow progress on currency reforms and tax-to-GDP improvements.

An IMF team led by Chris Papageorgiou concluded its third and fourth reviews of Bangladesh's economic reform progress last month, paving the way for the funds under the Extended Fund Facility (EFF), Extended Credit Facility (ECF), and Resilience and Sustainability Facility (RSF).

Bangladesh Bank Governor Dr. Ahsan H Mansur, who led the negotiations with IMF officials, is expected to provide further details during a May 14 press conference, joining virtually from Dubai.

Chellaney recently criticized India’s decision to agree to a ceasefire with Pakistan just three days into Operation Sindoor, calling it a major strategic blunder and yet another case of “snatching defeat from the jaws of victory.” 

Drawing parallels to past missteps such as the 1948 Kashmir ceasefire, the 1966 return of Haji Pir, and the 2021 Ladakh disengagement, Chellaney argued that the operation offered a rare chance to decisively shift Pakistan’s four-decade proxy war against India. Instead, he said, the premature halt left objectives unfulfilled and reflected a recurring pattern of India exercising restraint when it could have consolidated its advantage.