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.
Federal Minister for Economic Affairs Ahad Khan Cheema, who represents Pakistan on the World Bank Group’s Board of Governors, has been announced as the incoming chair of both boards for 2027, the ministry said on Friday.
The announcement was made during the plenary session of the 2026 World Bank Group and IMF Annual Meetings in Bangkok.
The chairmanship will give Pakistan an opportunity to participate in discussions on global economic policy, development financing, and cooperation among member countries, the ministry said.
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.
Following the announcement, Cheema received a briefing from the World Bank Group’s Corporate Secretariat on the duties of the chairmanship. He also met WBG Vice President and Corporate Secretary Aradhana Kumar-Capoor to discuss arrangements and institutional support 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 support for stronger representation of developing countries in international financial institutions. He also highlighted the need for predictable development financing, better coordination among multilateral development institutions, and greater private-sector investment to support sustainable and inclusive growth.
Cheema reaffirmed Pakistan’s commitment to working with the IMF, World Bank Group, and other member countries to strengthen international economic cooperation and make the global financial system more responsive to development needs.
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