Chairman of Borrowers: Pakistan’s New Claim to Fame

Pakistan has been appointed chairman of the Governing Council of the Borrowers Platform, a group of countries that take loans. The announcement was made during the annual meetings of the World Bank Group and the IMF in Bangkok, Thailand. According to Pakistan’s Finance Ministry, Finance Minister Muhammad Aurangzeb accepted the chairmanship on behalf of the country.
The minister said that debt should be a tool for development, not an obstacle to it. That sounds wonderful. But perhaps someone should explain to us how a country drowning in debt plans to turn borrowing into development.
According to journalist Tanveer Malik, Pakistan’s federal government owed Rs 82,953 billion by the end of August 2026, up from Rs 77,458 billion a year earlier. Of this mountain of debt, approximately $87 billion is owed to foreign lenders.
And now, instead of winning awards for paying back loans, Pakistan has won the chairmanship of a club of borrowers!
Perhaps this is what they call meritocracy, Pakistani style: when you cannot lead the world in wealth creation, you can still lead the world in borrowing.
Congratulations, Pakistan! We may not have conquered poverty, but at least we have conquered a prestigious position in the international debt community.
Why bother becoming a creditor when you can become the chairman of debtors? .. CN report, 15 Oct 2026