Pakistan has been made the Chairman of the Governing Council of the Borrowers’ Platform, a group of borrowing countries. The development came as the World Bank Group and the International Monetary Fund (IMF) held their annual meeting in Bangkok, Thailand, on 12 October.
According to the details released by Pakistan’s Press Information Department, during the meeting, Finance Minister Senator Muhammad Aurangzeb ‘accepted the Chairmanship of the Governing Council of Borrowers Platform’.
On this occasion, he said that the platform should be a means of promoting ‘learning together’ and ‘technical cooperation’.
According to the details, Mohammad Aurangzeb also told the Borrowers Platform about Pakistan’s priorities for the year 2026-27. He emphasized on strengthening the debt management system, learning from each other for reforms and finding new ways to access capital for development projects.
On this occasion, the Finance Minister of Pakistan said that debt should become a tool for development instead of being an obstacle in the path of development.
The United Nations Conference on Trade and Development (UNCTAD), the United Nations organization for trade and development, has also released details about the first meeting of the Governing Council of the Borrowers Platform.
According to the organization’s press release, the meeting was held yesterday (October 12), in which finance ministers of developing countries, central bank governors and high-ranking officials participated.
