Pak agrees to join ‘Board of Peace’ after seeking $2.5-bn debt’s rollover for ailing economy
In a surprising turn of events, 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 move comes just days after the debt-ridden country approached the United Arab Emirates (UAE) with a request to roll over a $2.5-billion maturing debt and halve the applicable interest rate, in an effort to shore up its ailing economy.
The decision to join the ‘Board of Peace’ was announced by Pakistan’s Foreign Minister, Ishaq Dar, who stated that the country is committed to supporting the Gaza Peace Plan and promoting peace and stability in the region. However, the move has raised eyebrows among observers, given the country’s precarious financial situation.
Pakistan’s economy has been facing significant challenges in recent years, with a large trade deficit, dwindling foreign exchange reserves, and a hefty debt burden. The country has been struggling to meet its debt obligations, and the request to roll over the $2.5-billion debt to the UAE is a testament to its financial woes.
The UAE, which has been a key supporter of Pakistan’s economy, has agreed to consider the request, but it is unclear whether the country will be able to secure the relief it is seeking. Meanwhile, the decision to join the ‘Board of Peace’ and pay a $1-billion fee to become a permanent member has sparked criticism among some quarters, with many questioning the wisdom of such a move at a time when the country is struggling to make ends meet.
The ‘Board of Peace’ is an initiative launched by Donald Trump, with the aim of promoting peace and stability in the region. The board is expected to bring together key stakeholders and countries to work towards a lasting solution to the Gaza conflict. However, the initiative has been met with skepticism by some, who have questioned the effectiveness of such a board in achieving its stated goals.
Despite these concerns, Pakistan’s decision to join the ‘Board of Peace’ is seen as a significant development, and one that reflects the country’s commitment to promoting peace and stability in the region. The move is also expected to strengthen Pakistan’s ties with other countries in the region, including the UAE, which has been a key player in the country’s economy.
However, the decision to pay a $1-billion fee to become a permanent member of the board has raised questions about the country’s priorities. With a large portion of the population living below the poverty line, and the country struggling to provide basic amenities such as healthcare and education, many have questioned the wisdom of spending such a large sum of money on a membership fee.
Moreover, the fact that Pakistan is seeking to roll over a $2.5-billion debt to the UAE, while at the same time agreeing to pay a $1-billion fee to join the ‘Board of Peace’, has sparked concerns about the country’s financial management. The move has been seen as a reflection of the country’s poor financial planning, and its inability to prioritize its spending.
In conclusion, Pakistan’s decision to join the ‘Board of Peace’ is a significant development, and one that reflects the country’s commitment to promoting peace and stability in the region. However, the move has also raised concerns about the country’s financial management, and its ability to prioritize its spending. With a large debt burden, a struggling economy, and a significant portion of the population living below the poverty line, Pakistan needs to carefully consider its priorities and ensure that its spending is aligned with its needs.
The decision to pay a $1-billion fee to become a permanent member of the board is a significant expense, and one that will likely put a strain on the country’s already stretched finances. While the move may have its benefits, it is essential that Pakistan carefully weighs the costs and benefits of such a decision, and ensures that its spending is aligned with its priorities.
As the country navigates these challenging times, it is essential that it prioritizes its spending, and ensures that its financial management is sound. The decision to join the ‘Board of Peace’ may be a significant development, but it is only one part of a larger puzzle. Pakistan needs to carefully consider its priorities, and ensure that its spending is aligned with its needs, if it is to achieve its goals of promoting peace and stability in the region.
Source: https://www.reuters.com/world/asia-pacific/pakistan-join-trumps-board-peace-gaza-2026-01-21/
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