Pakistan to Chair IMF and World Bank Boards of Governors in 2027, Returning to the Role for the First Time Since 1953

Pakistan has been named the incoming chair of the Boards of Governors of the International Monetary Fund and the World Bank Group for 2027. The Ministry of Economic Affairs said the announcement was made at the plenary session of the two institutions’ annual meetings in Bangkok. It is a return Pakistan has waited a long time for: the country last held the chairmanship in 1953, some 74 years ago.

Cheema takes the incoming chair

Federal Minister for Economic Affairs Ahad Khan Cheema, who also serves as Pakistan’s governor to the World Bank, was formally announced as the incoming chair. After the plenary he was briefed by the World Bank Group’s Corporate Secretariat on what the role involves, and discussed institutional support and coordination with Vice President Aradhana Kumar-Capoor. He also sat down with the outgoing chair, Paraguay’s central bank governor Carlos Carvallo Spalding, congratulated him on his tenure and compared notes on the year ahead.

A louder voice for developing countries

The ministry says the chairmanship gives Pakistan a seat at the centre of global economic and development debate, and a chance to keep member countries talking at a difficult moment for the multilateral system. Cheema’s stated priorities run from strengthening the voice of developing countries to making development financing more effective and predictable, improving coordination among multilateral lenders and pulling in private capital for sustainable, inclusive growth. The Bangkok meetings, running from October 12 to 18, have drawn more than 15,000 participants from 191 countries. Finance Minister Muhammad Aurangzeb is also in Bangkok leading Pakistan’s delegation. The timing matters at home, too: Pakistan remains in a $7 billion IMF Extended Fund Facility alongside a $1.4 billion Resilience and Sustainability Facility, and recent reviews cleared the way for a draw of about $1.2 billion.