Aurangzeb assumes chairmanship of Borrowers’ Platform

Finance Minister Muhammad Aurangzeb was elected chair of the Borrowers’ Platform's Governing Council by Pakistan during the World Bank Group–IMF Annual Meetings 2026 in Bangkok, Thailand. He thanked Egypt for guiding the initiative and commended member countries and the secretariat for bringing it to life. The Borrowers’ Platform is a global, country-led effort that enables developing nations to collaborate on debt concerns.

Aurangzeb stressed the platform's goal of fostering mutual learning and technical assistance, not collective negotiation or crisis response. He detailed Pakistan's 2026-27 objectives, which include enhancing debt management, exchanging reform experiences, and investigating new financing tools. He reiterated Pakistan's dedication to practical execution and measurable outcomes, stating that debt should remain a development tool, not a roadblock.

The minister also praised the platform's swift progress in setting up its structure, governance, and work program, as well as increasing interest from potential members. In a separate meeting, Aurangzeb conversed with Dan Katz, First Deputy Managing Director of the International Monetary Fund (IMF), about Pakistan's economic stability, structural reforms, and external obstacles.

They discussed the nation's macroeconomic stabilization, progress under the IMF-supported program, and ongoing structural reforms. Both parties welcomed the staff-level agreement and noted advancements in fiscal health, foreign exchange reserves, inflation, and external sector stability. They also addressed the Middle East conflict's impact on energy prices and inflation, including relief measures for vulnerable households within fiscal limits.

Both parties reaffirmed their commitment to ongoing cooperation and protecting economic stability in the face of external challenges. Aurangzeb departed for Bangkok last week to lead Pakistan's delegation to the World Bank Group–IMF Annual Meetings 2026, which runs from October 12 to 18, 2026. During the trip, he will represent Pakistan at crucial IMF and World Bank Group events and participate in over 60 high-level interactions with international financial institutions, finance ministers, policymakers, development partners, global investors, banks, credit rating agencies, think tanks, and international media.

Pakistan's shift from macroeconomic stabilization to sustainable, investment- and export-driven growth is ongoing, alongside advancing structural reforms and enhancing ties with international capital markets and development partners.