Federal Minister for Finance and Revenue, Senator Muhammad Aurangzeb, participated in the launch of the Borrowers’ Platform, held on the sidelines of the World Bank–IMF Spring Meetings in Washington, D.C.
In his statement, the Finance Minister underscored that a large number of developing countries remain in acute debt distress, facing elevated borrowing costs and tightening global financial conditions that are constraining their ability to invest in growth and sustainable development.
He noted that while domestic reforms remain essential and are being actively pursued, systemic constraints within the global financial architecture continue to limit the policy space available to borrowing nations.
The Finance Minister highlighted that the Borrowers’ Platform addresses a long-standing gap, as borrowing countries have lacked a dedicated forum to share experiences, identify emerging risks, and bring coherence to their collective perspectives. He clarified that the Platform is not intended as a negotiating bloc, but rather as a voluntary, Member State-led initiative focused on peer learning, experience-sharing, and amplifying the voice of borrowing countries in the global financial discourse.
In his concluding remarks, the Finance Minister acknowledged the advocacy of the United Nations Secretary-General for reforms in the global financial architecture, appreciated the leadership of Egypt, and recognized the support of United Nations Conference on Trade and Development (UNCTAD). He also noted the announcement of Egypt as the interim Chair of the Platform.
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