Pakistan has been selected to chair the Boards of Governors of the International Monetary Fund (IMF) and the World Bank Group in 2027, marking the country’s first such appointment since 1953. Federal Minister for Economic Affairs Ahad Khan Cheema will serve as the incoming chair of both boards, according to an announcement made during the 2026 IMF and World Bank Group Annual Meetings in Bangkok.
The Ministry of Economic Affairs said the appointment would provide Pakistan an opportunity to participate in discussions on global economic policy, development financing, and international cooperation. The Boards of Governors are the highest decision-making bodies of both institutions, representing member countries and setting their broad strategic direction.
Following the announcement, Cheema received a briefing from the World Bank Group’s Corporate Secretariat on the responsibilities of the chairmanship. He also met World Bank Group Vice President and Corporate Secretary Aradhana Kumar-Capoor to discuss preparations for Pakistan’s term.
Cheema also met outgoing chair Carlos Carvallo Spalding, governor of Paraguay’s central bank, to discuss the role’s responsibilities and priorities for the coming year. During the meetings, he emphasized the need for stronger representation of developing countries in international financial institutions, predictable development financing, improved coordination among multilateral institutions, and greater private-sector investment.
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.