Aurangzeb assumes chairmanship of Borrowers’ Platform

Finance Minister Muhammad Aurangzeb accepted the chairmanship of the Governing Council of the Borrowers’ Platform on behalf of Pakistan on the sidelines of the World Bank Group–IMF Annual Meetings 2026 in Bangkok, Thailand.

He acknowledged Egypt’s leadership and the contributions of member countries and the secretariat in operationalising the platform, read a statement on Monday.

The Borrowers’ Platform is an international, member state-led initiative that gives developing nations a dedicated space to coordinate, share knowledge, and speak with a collective voice on sovereign debt challenges.

The finance minister emphasised that the platform would promote mutual learning and technical cooperation rather than serve as a collective bargaining or crisis-management mechanism.

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.

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He reaffirmed Pakistan’s commitment to practical implementation and measurable results, stressing that debt should remain an instrument for development rather than a constraint on it.

In his concluding remarks, Aurangzeb welcomed the rapid progress in establishing the platform’s institutional foundations, governance arrangements and shared work programme, as well as growing interest from prospective member countries. He also addressed a press conference following the session.

Meets IMF official

In a separate engagement, Finance Minister Muhammad Aurangzeb discussed macroeconomic stability, structural reforms and external challenges with Dan Katz, First Deputy Managing Director of the International Monetary Fund (IMF).

They discussed Pakistan’s macroeconomic stabilisation, progress under the IMF-supported programme and ongoing structural reforms.

The finance minister highlighted improved investor confidence, sovereign credit rating upgrades and renewed access to international capital markets.

He reaffirmed the government’s commitment to fiscal discipline, tax reforms, privatisation and sustainable economic growth.

Both sides welcomed the staff-level agreement and acknowledged improvements in fiscal performance, foreign exchange reserves, inflation and external sector stability.

Discussions also covered the impact of the Middle East conflict on energy prices and inflation, including targeted relief for vulnerable households within fiscal constraints. Both sides reaffirmed their commitment to continued cooperation and safeguarding macroeconomic stability against external challenges.

The finance minister departed for Bangkok, Thailand, last week to lead Pakistan’s delegation to the World Bank Group–IMF Annual Meetings 2026, scheduled to be held from October 12 to 18, 2026.

During the visit, the finance minister will represent Pakistan at key events of the International Monetary Fund (IMF) and the World Bank Group and undertake an extensive programme of over 60 high-level engagements with international financial institutions, finance ministers and policymakers, development partners, global investors, banks, credit rating agencies, think tanks and international media.

The visit comes as Pakistan continues its transition from macroeconomic stabilisation towards sustainable, investment- and export-led growth, while advancing structural reforms and strengthening engagement with international capital markets and development partners.