Islamabad (TDI): Pakistan will head the governing boards of both the World Bank Group and the International Monetary Fund next year, a role it has not held in more than seven decades, the Ministry of Economic Affairs announced on Friday.
Federal Minister for Economic Affairs Ahad Khan Cheema, who serves as Pakistan’s Governor at the World Bank Group, was named incoming chair of the Boards of Governors of both institutions for 2027. The announcement came during the plenary session of the 2026 WBG-IMF Annual Meetings in Bangkok. Pakistan last held the chairmanship in 1953.
The Boards of Governors are the top decision-making bodies of the two lenders. They represent all member countries and set the broad direction of each organization.
In a statement, the ministry said the role gives Pakistan a chance to contribute to global economic and development discussions and to help foster dialogue among members at a difficult time for the multilateral system.
After the plenary, Cheema was briefed by the World Bank Group’s Corporate Secretariat on the duties of the office. He also met Aradhana Kumar-Capoor, the group’s Vice President and Corporate Secretary, to discuss institutional support and coordination during Pakistan’s term.
The minister also held talks with Carlos Carvallo Spalding, governor of the Central Bank of Paraguay and the outgoing chair. Cheema praised Spalding’s handling of the post, and the two discussed the office’s responsibilities and priorities for the coming year.
In his meetings, Cheema outlined the agenda Pakistan intends to bring to the role. It includes amplifying the voice of developing countries, promoting predictable and effective development financing, improving coordination among multilateral development banks, and mobilizing private capital for sustainable, inclusive growth.
He said Pakistan would work closely with the World Bank Group, the IMF and member states to build a more responsive global development and financial system.
The appointment comes as Pakistan’s economic team is active in Bangkok. Pakistan has also pressed for reform of the international financial architecture at the G-24 meeting, and Finance Minister Muhammad Aurangzeb has taken over chairmanship of the Borrowers’ Platform.
