Pakistan to Chair IMF, World Bank Boards First Time in 74 Years

Pakistan has been selected to chair the Boards of Governors of the International Monetary Fund (IMF) and the World Bank Group in 2027, the first time since 1953.

Key points

• The announcement was created during the plenary session of the 2026 World Bank Group and IMF Annual Meetings in Bangkok.
• After the announcement, Cheema received a briefing from the World Bank Group's Corporate Secretariat on the duties of the chairmanship.
• The Boards of Governors are the highest decision-making bodies of the IMF and World Bank Group.
• Cheema separately met Carlos Carvallo Spalding, governor of Paraguay's central bank and the outgoing chair.
• During the meetings, Cheema emphasized Pakistan's backing for stronger representation of developing countries in international financial institutions.

Federal Minister for Economic Affairs Ahad Khan Cheema. This person represents Pakistan on the World Bank Group's Board of Governors, has been confirmed as the incoming chair of both boards for 2027, the ministry stated on Friday. World Bank Worried Regarding Pakistan.

Notably, the announcement was created during the plenary session of the 2026 World Bank Group and IMF Annual Meetings in Bangkok.

Notably, the chairmanship will offer Pakistan an opportunity to participate in discussions on global economic policy, development financing, and cooperation among member countries, the ministry stated.

Meanwhile, the Boards of Governors are the highest decision-making bodies of the IMF and World Bank Group. They represent member countries and set the broad direction of the two institutions.

After the announcement, Cheema received a briefing from the World Bank Group's Corporate Secretariat on the duties of the chairmanship. He additionally met WBG Vice President and Corporate Secretary Aradhana Kumar-Capoor to discuss arrangements and institutional backing for Pakistan's term.

Cheema separately met Carlos Carvallo Spalding, governor of Paraguay's central bank and the outgoing chair. He congratulated Spalding on completing his tenure and discussed the responsibilities of the position and priorities for the coming year.

During the meetings, Cheema emphasized Pakistan's backing for stronger representation of developing countries in international financial institutions. He additionally highlighted the need for predictable development financing, better coordination among multilateral development institutions, and greater private-sector investment to backing sustainable and inclusive expansion. Finance Minister Gives Evidence for Pakistan's Economic Recovery.

Cheema reaffirmed Pakistan's commitment to working with the IMF, World Bank Group, and other member countries to strengthen international economic cooperation and create the global financial system more responsive to development needs. Stay Connected with ProPakistani.

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