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 initiative spearheaded by former US President Donald Trump, in support of the Gaza Peace Plan. This development comes on the heels of Pakistan’s efforts 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 a bid to stabilize its ailing economy.
According to a statement released by Pakistan’s Foreign Minister, Ishaq Dar, the country’s decision to join the ‘Board of Peace’ is a testament to its commitment to promoting peace and stability in the region. The board, which aims to bring together nations from around the world to promote peaceful resolution of conflicts, is expected to play a significant role in shaping the global agenda on peace and security.
However, what is interesting to note is that Pakistan’s decision to join the ‘Board of Peace’ comes at a time when the country is facing significant economic challenges. With a debt burden of over $2.5 billion, Pakistan has been struggling to keep its economy afloat, and the recent approach to the UAE for a debt rollover and interest rate reduction is a clear indication of the country’s desperation to find a way out of its economic woes.
The UAE, which has been a key player in Pakistan’s economy, has been approached by the country to rollover the $2.5-billion debt, which is set to mature soon. In addition to the debt rollover, Pakistan has also sought a reduction in the applicable interest rate, which is currently hovering around 5%. The move is seen as a last-ditch effort by Pakistan to avoid a default on its debt obligations, which could have severe consequences for the country’s already fragile economy.
Meanwhile, the decision to join the ‘Board of Peace’ is expected to come at a significant cost to Pakistan. According to reports, the board will require a $1-billion fee from Pakistan to join as a permanent member. This fee, which is a significant amount for a country that is already struggling to meet its debt obligations, has raised eyebrows among analysts, who are questioning the wisdom of Pakistan’s decision to join the board at this juncture.
Despite the economic challenges, Pakistan’s Foreign Minister, Ishaq Dar, has defended the country’s decision to join the ‘Board of Peace’, saying that it is a necessary step to promote peace and stability in the region. “Pakistan is committed to promoting peace and stability in the region, and joining the ‘Board of Peace’ is a significant step in this direction,” Dar said in a statement. “We believe that the board will play a significant role in shaping the global agenda on peace and security, and we are proud to be a part of it.”
The ‘Board of Peace’ is expected to be launched soon, with several countries from around the world expected to join the initiative. The board will be chaired by former US President Donald Trump, who has been a vocal supporter of the Gaza Peace Plan. The plan, which aims to promote peace and stability in the Middle East, has been widely welcomed by countries from around the world, and the ‘Board of Peace’ is expected to play a significant role in its implementation.
In conclusion, Pakistan’s decision to join the ‘Board of Peace’ is a significant development, which comes at a time when the country is facing significant economic challenges. While the decision to join the board is expected to promote peace and stability in the region, it is also expected to come at a significant cost to Pakistan. The $1-billion fee required to join the board as a permanent member is a significant amount, and it remains to be seen how Pakistan will meet this obligation, given its current economic challenges.
As the ‘Board of Peace’ gets set to launch, it will be interesting to see how Pakistan navigates its economic challenges, while also promoting peace and stability in the region. One thing is certain, however – Pakistan’s decision to join the ‘Board of Peace’ is a significant development, which will have far-reaching implications for the country and the region as a whole.
Source: https://www.reuters.com/world/asia-pacific/pakistan-join-trumps-board-peace-gaza-2026-01-21/
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