Pak agrees to join ‘Board of Peace’ after seeking $2.5-bn debt’s rollover for ailing economy
In a surprise move, Pakistan has announced its decision to join the ‘Board of Peace’, a brainchild of former US President Donald Trump, in support of the Gaza Peace Plan. This development comes on the heels of Pakistan’s desperate bid to seek a rollover of its $2.5-billion maturing debt from the United Arab Emirates (UAE), as well as a reduction in the applicable interest rate, in an attempt to salvage its ailing economy.
Pakistan’s Foreign Minister, Ishaq Dar, made the announcement, stating that the country’s decision to join the ‘Board of Peace’ is a testament to its commitment to promoting peace and stability in the region. However, the timing of this decision has raised eyebrows, given Pakistan’s precarious economic situation.
Just days ago, Pakistan approached the UAE, seeking a rollover of the $2.5-billion debt that is set to mature soon. The country is also requesting a halving of the applicable interest rate, in a bid to ease the burden on its already strained economy. This move is seen as a desperate attempt to avoid defaulting on its debt obligations, which could have far-reaching consequences for the country’s financial stability.
The decision to join the ‘Board of Peace’ is likely to come at a significant cost to Pakistan. According to reports, the board requires a $1-billion fee to join as a permanent member. This is a substantial amount, considering Pakistan’s current economic woes. The country is struggling to meet its debt obligations, and the addition of this new expense will only add to its financial burden.
Despite the potential costs, Pakistan’s decision to join the ‘Board of Peace’ is seen as a strategic move to strengthen its ties with the international community, particularly with the United States. The ‘Board of Peace’ is a high-profile initiative, and Pakistan’s participation is likely to be viewed as a positive development by the global community.
The Gaza Peace Plan, which the ‘Board of Peace’ is designed to support, is a comprehensive initiative aimed at promoting peace and stability in the region. The plan involves a range of measures, including economic development, infrastructure building, and conflict resolution. Pakistan’s participation in the ‘Board of Peace’ is likely to be seen as a significant contribution to this effort, and could potentially help to enhance the country’s reputation as a responsible and constructive player in regional affairs.
However, critics have raised questions about the timing and motivations behind Pakistan’s decision to join the ‘Board of Peace’. Some have argued that the move is driven by a desire to secure financial support from the international community, rather than a genuine commitment to promoting peace and stability in the region.
Others have pointed out that Pakistan’s economic situation is so dire that the country may not be in a position to fulfill its obligations to the ‘Board of Peace’, including the payment of the $1-billion fee. This could potentially damage Pakistan’s reputation and credibility, and undermine its ability to participate in international initiatives.
In conclusion, Pakistan’s decision to join the ‘Board of Peace’ is a significant development, with both positive and negative implications. On the one hand, the move could help to strengthen Pakistan’s ties with the international community, and promote peace and stability in the region. On the other hand, the decision may be driven by a desire to secure financial support, rather than a genuine commitment to the cause. Additionally, the $1-billion fee required to join the board as a permanent member may be a significant burden on Pakistan’s already strained economy.
As the situation continues to unfold, it will be important to monitor Pakistan’s progress and assess the impact of its decision to join the ‘Board of Peace’. One thing is certain, however: the country’s economic situation remains a major concern, and any efforts to address this challenge will be crucial to Pakistan’s long-term stability and prosperity.
Source: https://www.reuters.com/world/asia-pacific/pakistan-join-trumps-board-peace-gaza-2026-01-21/
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