Debt-Stricken Pakistan To Lead Borrowers’ Platform On Sidelines Of World Bank-IMF Meetings In Bangkok

Last Updated:October 13, 2026, 09:36 IST

Pakistan’s Finance Minister Muhammad Aurangzeb formally took charge of the initiative, saying it was established to help countries cooperate with each other.

Pakistan is leading a borrowers’ collective on the sidelines of the World Bank Group–IMF Annual Meetings 2026 in Bangkok. (MoFA Pakistan)

Cash-strapped Pakistan is set to lead a newly formed borrowers’ platform of developing countries on the sidelines of the World Bank and International Monetary Fund (IMF) Annual Meetings 2026, focusing on debt management and economic reforms.

The platform held its first governing council meeting on Monday in Bangkok, where finance ministers and central bank governors from more than 30 developing countries chose Pakistan to lead the collective. Pakistan’s Finance Minister Muhammad Aurangzeb formally took charge of the initiative, saying it was established to help countries cooperate with each other.

Under the 2026-27 Borrowers’ platform, Pakistan has prioritised debt management and economic reforms, vowing to turn it into practical cooperation and measurable development outcomes.

ALSO READ: Band-Aid Finance: The IMF’s $1.2 Billion Bailout Leaves Pakistan’s Structural Rot Untouched

Aurangzeb said debt should support the development of a country, rather than becoming an obstacle to progress. He outlined Pakistan’s priorities under the 2026–27 work plan, including strengthening debt-management practices, sharing reform experiences and exploring innovative development-financing instruments, as per a statement. Pakistan has also ruled out a collective bargaining role for the platform.

Notably, the IMF and World Bank annual meetings are also taking place in the Thai capital, where the world’s growing debt pile is a key theme. UN Secretary-General Antonio Guterres expressed concern over the growing debt crisis, calling for a fundamental shift to correct power imbalances.

Notably, Pakistan itself is facing a severe debt crisis, with external debt reaching $138.85 million in the second quarter of this year. The nation’s foreign exchange reserves climbed to roughly $21.5 billion towards the conclusion of September.

Pakistan’s economic history has been marked by repeated reliance on financial assistance from the International Monetary Fund (IMF) and loans from other countries to manage external debt obligations. It received another lifeline from the IMF earlier this month, reaching a staff-level agreement to unlock about $1.21 billion in additional financing.

Quick Answers

Powered by

Ask News18

What role did Pakistan assume at the new borrowers platform meeting in Bangkok?

Finance ministers and central bank governors from over 30 developing countries chose Pakistan to lead the newly formed borrowers platform during its first governing council meeting in Bangkok. Pakistan’s Finance Minister Muhammad Aurangzeb formally took charge of the initiative.

What are Pakistan’s main priorities under the 2026-27 borrowers platform work plan?

Under the 2026-27 work plan, Pakistan has prioritized strengthening debt-management practices, sharing reform experiences, and exploring innovative development-financing instruments. The goal is to turn the initiative into practical cooperation and measurable development outcomes so that debt supports country development rather than hindering progress.

What is Pakistan’s current financial situation regarding debt and IMF assistance?

Pakistan faces a severe debt crisis with external debt reaching $138.85 million in the second quarter of the year, while its foreign exchange reserves climbed to roughly $21.5 billion by late September. The country also recently secured a staff-level agreement with the IMF earlier in the month to unlock approximately $1.21 billion in additional financing.

Powered by

Ask News18

About the Author

Manoj Gupta

Group Editor, Investigations and Security Affairs, Network18

Read More