Pak agrees to join ‘Board of Peace’ after seeking $2.5-bn debt’s rollover for ailing economy
In a significant development, Pakistan has announced its decision to join the ‘Board of Peace’, a initiative spearheaded by former US President Donald Trump, aimed at promoting peace in the Gaza region. This move comes on the heels of the debt-ridden country’s efforts to secure 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. The decision to join the ‘Board of Peace’ has raised eyebrows, particularly given the hefty $1-billion fee required to become a permanent member.
According to Pakistan’s Foreign Minister, Ishaq Dar, the country’s participation in the ‘Board of Peace’ is a testament to its commitment to promoting regional stability and peace. The minister emphasized that Pakistan’s involvement in the initiative would not only contribute to the betterment of the Gaza region but also foster stronger ties with other member nations. However, the timing of this announcement has led to speculation about the potential motivations behind Pakistan’s decision.
It is no secret that Pakistan’s economy has been facing significant challenges in recent times. The country’s debt burden has been steadily increasing, with the $2.5-billion debt owed to the UAE being just one of the many liabilities that need to be addressed. By seeking a rollover of this debt, Pakistan is hoping to buy some much-needed time to get its economic affairs in order. The request to halve the applicable interest rate is also a clear indication of the country’s efforts to reduce its financial liabilities.
The ‘Board of Peace’ initiative, launched by Donald Trump, aims to bring together nations from around the world to promote peace and stability in the Gaza region. While the initiative has garnered support from several countries, the $1-billion fee required to become a permanent member has been a point of contention. Pakistan’s decision to join the ‘Board of Peace’ despite its ailing economy has raised questions about the country’s priorities.
On one hand, Pakistan’s participation in the ‘Board of Peace’ could be seen as a strategic move to strengthen its ties with other nations and promote regional stability. The country’s involvement in the initiative could also provide an opportunity for Pakistan to play a more significant role in international affairs. On the other hand, the $1-billion fee required to join the ‘Board of Peace’ as a permanent member is a significant burden for a country struggling to manage its debt.
The decision to join the ‘Board of Peace’ has also sparked debate about the potential benefits for Pakistan. While some argue that the country’s participation in the initiative could lead to increased investment and economic cooperation, others believe that the $1-billion fee could have been better spent on addressing Pakistan’s pressing economic issues. The fact that the country is seeking a rollover of its $2.5-billion debt from the UAE while agreeing to pay the $1-billion fee to join the ‘Board of Peace’ has raised questions about the government’s priorities.
In conclusion, Pakistan’s decision to join the ‘Board of Peace’ is a complex issue with both positive and negative implications. While the country’s participation in the initiative could promote regional stability and foster stronger ties with other nations, the $1-billion fee required to become a permanent member is a significant burden for a country struggling to manage its debt. As Pakistan navigates its economic challenges, it is essential to carefully consider the potential benefits and drawbacks of its decision to join the ‘Board of Peace’.
The development is a significant one, and its implications will be closely watched by nations around the world. As the ‘Board of Peace’ initiative continues to take shape, it will be interesting to see how Pakistan’s participation plays out and what benefits the country can derive from its involvement.
Source:
https://www.reuters.com/world/asia-pacific/pakistan-join-trumps-board-peace-gaza-2026-01-21/
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