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Pakistan: Pakistan has highlighted the need for stronger international cooperation and more balanced global debt architecture to address the scale of debt distress facing developing countries.
According to Radio Pakistan, Pakistan’s Permanent Representative to the UN, Ambassador Asim Iftikhar Ahmad, briefed the wider UN membership on the forthcoming Borrowers’ Platform. He emphasized that more than 3.3 billion people reside in countries where debt servicing expenses surpass those allocated to health or education, illustrating the intense pressures on developing economies.
Ambassador Ahmad expressed optimism that the Borrowers’ Platform will significantly contribute to enhancing international cooperation on debt challenges and advancing discussions on the broader international financial architecture. He clarified that the platform is not intended to serve as a negotiating forum or a mechanism for collective debt restructuring. Instead, it is envisioned as a cooperative forum to strengthen dialogue and knowledge sharing among borrower countries.