Pakistan secures 2027 leadership of IMF, World Bank governing boards after 74 years
Pakistan secures 2027 leadership of IMF. (Image courtesy: X/@eadgop)
New Delhi: Pakistan will take charge of the boards of governors of the International Monetary Fund (IMF) and the World Bank Group in 2027, with Pakistani economic affairs minister, Ahad Khan Cheema, named to lead both boards for the year. The announcement was made during the plenary session of the institutions’ annual meetings in Bangkok, Thailand, on Friday, according to Pakistan’s economy ministry said.
The appointment marks Pakistan’s return to the chairmanship for the first time since 1953. Cheema said the country would use its tenure to strengthen the voice of developing nations and improve the delivery of development finance.
The ministry said Pakistan would also work with the World Bank Group, the IMF and member countries to improve coordination across multilateral institutions and encourage private investment for sustainable and inclusive growth.
Cheema holds meetings ahead of 2027 tenure
As part of preparations for the chairmanship, Cheema received a briefing from the World Bank Group’s Corporate secretariat on the responsibilities of the role, the ministry said. He also met World Bank Group vice-president and corporate secretary Aradhana Kumar Capoor to discuss institutional support and coordination during Pakistan’s tenure.
In a separate meeting, Cheema congratulated outgoing chairman Carlos Carvalho Spalding on completing his term. The two discussed the responsibilities of the position and priorities for the coming year, according to the ministry.
Pakistan raises concerns over global financial system
Pakistan has called for reforms to the international financial system to make multilateral institutions more representative and responsive to developing countries, according to statements made during the annual meetings.
The finance minister, Muhammad Aurangzeb, is leading Pakistan’s delegation in Bangkok, where officials are engaging with international lenders, investors and development partners on economic reforms, financing and investment opportunities.
According to the Express Tribune, Aurangzeb highlighted Pakistan’s fiscal deficit falling to a 22-year low, three consecutive years of primary surpluses and improved foreign exchange reserves. He also reaffirmed the government’s commitment to structural reforms and sustainable, export-led growth, the newspaper reported.
Separately, Aurangzeb met World Bank Group president, Ajay Banga, at a dinner hosted by Thailand’s prime minister on the sidelines of the 2026 annual meetings.
Pakistan Television reported the meeting in a post on X, saying the gathering provided an opportunity for informal interaction alongside the high-level engagements taking place during the meetings.
The IMF and World Bank Group annual meetings are being held in Bangkok from October 12 to 18, bringing together representatives of member countries and international financial institutions to discuss economic and development issues.
