Pakistan will chair the Boards of Governors of the World Bank Group and the International Monetary Fund in 2027, returning to a position it last held in 1953. The announcement was made during the plenary session of the two institutions’ annual meetings in Bangkok.
Federal Minister for Economic Affairs Ahad Khan Cheema, who also serves as Pakistan’s governor to the World Bank, has been named the incoming chair of both boards. The Ministry of Economic Affairs confirmed the appointment in a statement on Friday.
The Boards of Governors are the highest decision-making bodies of the World Bank and the IMF. Made up of representatives of member countries, they set the broad policy direction of both institutions.
After the plenary session, Cheema was briefed by the World Bank’s Corporate Secretariat on the duties of the chair. He also met Aradhana Kumar-Capoor, the World Bank Group’s vice president and corporate secretary, to discuss institutional support and coordination during Pakistan’s term.
He then met Carlos Carvallo Spalding, governor of Paraguay’s central bank and the outgoing chair, congratulated him on completing his tenure, and discussed the responsibilities of the office and the priorities for the year ahead.
Cheema said Pakistan would use the chairmanship to strengthen the voice of developing countries, press for more effective and predictable development financing, improve coordination among multilateral development institutions, and mobilise private capital for sustainable and inclusive growth.
The ministry described the appointment as a historic milestone, saying it would give Pakistan a chance to contribute to global economic and development discussions and to encourage constructive dialogue among member countries. The annual meetings in Bangkok, held from October 12 to 18, have drawn more than 15,000 participants from 191 countries.
The appointment comes as Pakistan remains engaged with the IMF under a 7 billion dollar Extended Fund Facility and a 1.4 billion dollar Resilience and Sustainability Facility, with around 1.2 billion dollars expected once the IMF Executive Board approves the latest reviews.
