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 the debt-ridden country’s plea to the United Arab Emirates (UAE) to rollover a $2.5-billion maturing debt and reduce the applicable interest rate, in an effort to salvage its ailing economy.
According to Pakistan’s Foreign Minister, Ishaq Dar, the country’s decision to join the ‘Board of Peace’ is a strategic move aimed at promoting regional stability and peace. The board, which is expected to play a crucial role in facilitating dialogue and conflict resolution in the Middle East, will reportedly require a $1-billion fee for Pakistan to join as a permanent member.
The decision to join the ‘Board of Peace’ has raised eyebrows, given Pakistan’s current economic woes. The country is grappling with a severe debt crisis, with its foreign exchange reserves dwindling to alarming levels. The government has been scrambling to secure financial assistance from international lenders, including the International Monetary Fund (IMF), to avoid a default.
In recent weeks, Pakistan has approached several countries, including the UAE, to seek debt relief and rollover of maturing loans. The $2.5-billion debt, which is set to mature soon, is a significant burden on the country’s economy, and the government is keen to negotiate a rollover and reduction in interest rates to ease the pressure on its finances.
The UAE, which has been a key ally of Pakistan, has reportedly agreed to consider the request, but the terms of the deal are yet to be finalized. The Pakistani government is hopeful that the UAE will agree to the rollover and reduction in interest rates, which would provide much-needed relief to the country’s economy.
The decision to join the ‘Board of Peace’ has been seen as a strategic move by Pakistan to boost its international image and secure support from key players in the region. The country has been facing significant challenges in recent years, including a struggling economy, a fragile security situation, and a deteriorating relationship with neighboring countries.
By joining the ‘Board of Peace’, Pakistan hopes to demonstrate its commitment to regional stability and peace, and to secure a seat at the table in international forums. The country’s foreign minister, Ishaq Dar, has stated that the decision to join the board is a testament to Pakistan’s commitment to promoting peace and stability in the region.
However, critics have raised questions about the cost of joining the ‘Board of Peace’, particularly given the country’s fragile economic situation. The $1-billion fee required to join as a permanent member is a significant burden, and many have questioned whether the benefits of membership outweigh the costs.
Moreover, there are concerns about the effectiveness of the ‘Board of Peace’ in promoting regional stability and peace. The initiative, which was launched by Donald Trump, has been met with skepticism by many in the international community, who have questioned its ability to deliver tangible results.
Despite these concerns, Pakistan’s decision to join the ‘Board of Peace’ is a significant development, and one that is likely to have far-reaching implications for the country’s foreign policy and economy. As the country navigates the complex web of international relations and economic diplomacy, it remains to be seen whether this move will pay off in the long run.
In conclusion, Pakistan’s decision to join the ‘Board of Peace’ is a calculated move aimed at promoting regional stability and peace, while also securing support from key players in the region. However, the cost of membership and the effectiveness of the initiative are significant concerns that need to be addressed. As the country struggles to overcome its economic challenges, it is essential that the government carefully weighs the benefits and drawbacks of this move, and ensures that the interests of the Pakistani people are protected.
Source: https://www.reuters.com/world/asia-pacific/pakistan-join-trumps-board-peace-gaza-2026-01-21/
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