Finance minister joins launch of borrowers’ platform at IMF–World Bank meetings

Federal Minister for Finance and Revenue Senator Muhammad Aurangzeb participated in the launch of the Borrowers’ Platform on the sidelines of the World Bank–IMF Spring Meetings in Washington, D.C.

Addressing the event, the finance minister said many developing countries are facing debt distress amid high borrowing costs and tightening global financial conditions, limiting their ability to invest in growth and sustainable development.

He noted that while domestic reforms are being pursued, structural constraints in the global financial system continue to restrict policy space for borrowing nations.

The minister said the Borrowers’ Platform fills a gap by providing a forum for countries to exchange experiences, identify risks, and present a more coordinated perspective in global financial discussions.

He clarified that the platform is not a negotiating bloc but a voluntary, member-led initiative focused on peer learning and experience-sharing.

In his remarks, the minister acknowledged the United Nations Secretary-General’s advocacy for reforms in the global financial architecture and appreciated the role of Egypt and the United Nations Conference on Trade and Development in supporting the initiative.

He also noted that Egypt has been announced as the interim chair of the platform.