Pakistan backs Borrowers' Platform to amplify developing nations' voice

April 16, 2026 (MLN): Pakistan has called for urgent reforms in the global financial architecture, warning that a large number of developing countries remain in acute debt distress, constrained by elevated borrowing costs and tightening global financial conditions that are limiting their ability to invest in growth and sustainable development.

Federal Minister for Finance and Revenue, Senator Muhammad Aurangzeb, made these remarks while participating in the launch of the Borrowers' Platform, held on the sidelines of the World Bank–IMF Spring Meetings in Washington, D.C, according to  press release issued.

He voiced his support for the newly launched Borrowers' Platform as a critical step toward amplifying the collective voice of borrowing nations in global financial discourse.

The Finance Minister stressed that while domestic reforms remain essential and are being actively pursued, systemic constraints within the existing global financial architecture continue to limit the policy space available to borrowing nations.

He described the Borrowers' Platform as addressing a long-standing gap, noting that developing countries have lacked a dedicated forum to share experiences, identify emerging risks, and present coherent collective perspectives.

He clarified that the Platform is not a negotiating bloc, but a voluntary, Member State-led initiative focused on peer learning, experience-sharing, and strengthening the voice of borrowing countries.

In his concluding remarks, the Finance Minister acknowledged the advocacy of the UN Secretary-General for global financial architecture reforms, appreciated Egypt's leadership in the initiative, and recognised the support of UNCTAD. 

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