Pakistan will chair the IMF and World Bank boards in 2027, marking its first return to the leadership role since 1953.
Pakistan has been named the incoming chair of the Boards of Governors of the International Monetary Fund (IMF) and the World Bank Group (WBG) for 2027, marking its first return to the position since 1953, the Ministry of Economic Affairs announced on Friday.
Federal Minister for Economic Affairs Ahad Khan Cheema, who also serves as Pakistan’s governor to the World Bank, was formally announced as the incoming chair during the plenary session of the 2026 WBG-IMF Annual Meetings in Bangkok, Thailand, according to an official ministry statement.
The annual meetings, taking place from October 12 to 18, have brought together more than 15,000 participants from 191 countries, including central bank governors, economic policymakers and business leaders, to discuss global economic challenges and development priorities.
The ministry described Pakistan’s selection as a “historic milestone”, saying the chairmanship would provide an opportunity to contribute to international economic and development discussions and encourage constructive dialogue among member countries.
Following the announcement, Cheema received a briefing from the World Bank Group’s Corporate Secretariat on the responsibilities of the position. He also met WBG Vice President and Corporate Secretary Aradhana Kumar-Capoor to discuss institutional support and coordination during Pakistan’s tenure.
Cheema separately met Carlos Carvallo Spalding, governor of Paraguay’s central bank and the outgoing chair. He congratulated Spalding on completing his tenure, commended his leadership and exchanged views on the office’s responsibilities and priorities for the coming year.
During the engagements, Cheema highlighted Pakistan’s commitment to strengthening the representation of developing countries, promoting predictable development financing, improving coordination among multilateral development institutions and mobilising private investment to support sustainable and inclusive growth.
Meanwhile, Finance Minister Muhammad Aurangzeb met World Bank Group President Ajay Banga at a dinner hosted by Thailand’s prime minister on the sidelines of the annual meetings, Pakistan Television reported.
Aurangzeb is leading Pakistan’s delegation in Bangkok and holding discussions with international financial institutions, finance ministers, policymakers and investors.
Pakistan remains engaged with the IMF under a $7 billion Extended Fund Facility and a $1.4 billion Resilience and Sustainability Facility. Earlier this month, Pakistan and the IMF reached a staff-level agreement following reviews under both programmes, qualifying the country to draw approximately $1.2 billion in additional funding.
Pakistan’s incoming chairmanship comes as the country continues efforts to strengthen international economic cooperation and secure financial support for its development priorities.
