Borrowers’ Platform

News: Developing countries launched the first-ever Borrowers’ Platform at IMF-World Bank Spring Meetings 2026 to address rising debt pressures collectively.

About Borrowers’ Platform

• It is a dedicated forum for developing countries to coordinate and address sovereign debt challenges.
• Launched: It was launched during the IMF-World Bank Spring Meetings 2026 by developing countries.
• Origin: The platform was first outlined in the Sevilla Commitment adopted at the Fourth International Conference on Financing for Development in July 2025, creating a permanent space for collaboration.
• Supported by: It is supported by the United Nations Conference on Trade and Development (UNCTAD) which serves as its secretariat.
• Aim: It aims to strengthen coordination and create a collective voice on sovereign debt issues among developing countries.
• Representatives: The platform includes representatives from 30 countries, including Prime Ministers, ministers, and central bank governors, with a working group.
• Leadership: It is guided by a working group chaired by Egypt, with Pakistan as Vice-Chair. Other key members include India, South Africa, Colombia, Nepal, and Zambia.
• Key features:
  • Knowledge sharing and coordination: The platform provides a space where countries can exchange experiences, learn from each other, and improve coordination on debt-related issues.
  • Technical cooperation and capacity building: It supports strengthening debt management capacity through technical assistance, including UNCTAD’s  Debt Management and Financial Analysis System(DMFAS) programme.
  • Collective voice in global finance: It enables developing countries to articulate a unified position in global debt discussions, addressing the imbalance created by creditor-led mechanisms like the Paris Club.
  • Non-crisis cooperative platform: It is not a debt restructuring or crisis coordination mechanism but focuses on practical solutions, peer learning, and improving transparency in debt management.
• Significance: The platform responds to high external debt of $11.7 trillion, annual debt service costs of nearly $920 billion, and the fact that 54 countries spend more on debt than on health or education.