{"id":2638,"date":"2026-10-13T19:03:48","date_gmt":"2026-10-13T14:03:48","guid":{"rendered":"https:\/\/ipp-news.com\/?p=2638"},"modified":"2026-10-13T19:03:48","modified_gmt":"2026-10-13T14:03:48","slug":"pakistan-takes-chair-of-borrowers-platform-amid-global-debt-pressures","status":"publish","type":"post","link":"https:\/\/ipp-news.com\/?p=2638","title":{"rendered":"Pakistan takes chair of Borrowers\u2019 Platform amid global debt pressures"},"content":{"rendered":"<div>\n<p><strong>Pakistan has assumed the chairmanship of the Governing Council of the Borrowers\u2019 Platform, a newly established initiative bringing together more than 30 developing countries to strengthen cooperation on sovereign debt management and development financing.<\/strong><\/p>\n<p>Finance Minister Muhammad Aurangzeb accepted the chairmanship on Pakistan\u2019s behalf during the platform\u2019s first Governing Council meeting in Bangkok, held on the sidelines of the annual meetings of the World Bank and the International Monetary Fund (IMF).<\/p>\n<p>United Nations Secretary-General Ant\u00f3nio Guterres warned that poor and developing countries were facing a major economic storm amid mounting debt pressures and wider global economic challenges.<\/p>\n<p>According to the latest United Nations Development Programme (UNDP) report cited in the meeting, developing countries are spending an average of around 9.5% of their total revenue on interest payments, the highest level since 2001.<\/p>\n<p>Addressing the meeting, Aurangzeb acknowledged Egypt\u2019s previous leadership and the efforts of member countries in establishing the platform. He said the initiative was designed to promote mutual learning and technical cooperation rather than serve as a collective bargaining forum or a temporary mechanism for managing crises.<\/p>\n<p>Outlining priorities for the 2026-27 work plan, the finance minister said Pakistan would focus on improving debt-management practices, exchanging experiences of economic reforms and exploring innovative sources of development financing.<\/p>\n<p>He stressed that debt should serve as an instrument for development rather than become an obstacle to economic progress.<\/p>\n<p>On the sidelines of the Bangkok meetings, Aurangzeb also met IMF First Deputy Managing Director Dan Katz to discuss Pakistan\u2019s economic stabilisation and structural reforms.<\/p>\n<p>According to the finance minister, the discussions on Pakistan\u2019s economic outlook and reform agenda were positive. The IMF acknowledged progress in building foreign exchange reserves, reducing inflation and maintaining macroeconomic stability, he said.<\/p>\n<p>Aurangzeb also participated in the V20 finance ministers\u2019 dialogue, where he emphasised the need for technical and financial cooperation to help countries address the combined challenges of climate change and debt pressures.<\/p>\n<p>Pakistan\u2019s appointment comes as developing economies face growing demands for debt servicing alongside the need to finance public services, infrastructure and climate resilience.<\/p>\n<p>The Borrowers\u2019 Platform is intended to provide participating countries with a forum to exchange expertise and strengthen their capacity to manage debt and pursue sustainable development.<\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"<p>Pakistan has assumed the chairmanship of the Governing Council of the Borrowers\u2019 Platform, a newly established initiative bringing together more than 30 developing countries to strengthen cooperation on sovereign debt management and development financing. Finance Minister Muhammad Aurangzeb accepted the chairmanship on Pakistan\u2019s behalf during the platform\u2019s first Governing Council meeting in Bangkok, held on the sidelines of the annual meetings of the World Bank and the International Monetary Fund (IMF). United Nations Secretary-General Ant\u00f3nio Guterres warned that poor and developing countries were facing a major economic storm amid mounting&hellip;<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[19],"tags":[],"class_list":["post-2638","post","type-post","status-publish","format-standard","hentry","category-english"],"gutentor_comment":0,"_links":{"self":[{"href":"https:\/\/ipp-news.com\/index.php?rest_route=\/wp\/v2\/posts\/2638","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/ipp-news.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/ipp-news.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/ipp-news.com\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/ipp-news.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=2638"}],"version-history":[{"count":0,"href":"https:\/\/ipp-news.com\/index.php?rest_route=\/wp\/v2\/posts\/2638\/revisions"}],"wp:attachment":[{"href":"https:\/\/ipp-news.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=2638"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/ipp-news.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=2638"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/ipp-news.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=2638"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}