Pakistan to chair World Bank, IMF Boards in 2027

In a key development, Pakistan has been nominated to chair the Boards of Governors of the International Monetary Fund (IMF) and the World Bank Group (WBG) in 2027, the Ministry of Economic Affairs said on Friday, marking the country’s first such appointment since 1953.

“Federal Minister for Economic Affairs and Governor WBG for Pakistan, Ahad Khan Cheema, has been formally announced as the incoming chair of the Boards of Governors of the WBG and the IMF for 2027,” read a statement.

The announcement was made during the plenary session of the 2026 WBG–IMF Annual Meetings in Bangkok, the statement read.

“The forthcoming chairmanship provides Pakistan an important opportunity to contribute to global economic and development deliberations and facilitate constructive dialogue among member countries at a critical juncture for the multilateral system,” the ministry said.

The Boards of Governors of the WBG and the IMF are the highest decision-making bodies of these two major international financial institutions. They represent the member countries and determine the broad direction of the organisations.

Following the plenary, Ahad Cheema received a briefing from the WBG Corporate Secretariat on the responsibilities of the chairmanship.

He also met WBG Vice President and Corporate Secretary Aradhana Kumar-Capoor to discuss institutional support and coordination during Pakistan’s term.

The minister also met Governor of the Central Bank of Paraguay Carlos Carvallo Spalding.

He congratulated Spalding, the outgoing chair, on the successful completion of his tenure and commended his stewardship of the chairmanship. The two exchanged views on the responsibilities of the office and priorities for the year ahead, providing an opportunity to benefit from the outgoing chair’s experience and insights.

During the meetings, the minister highlighted Pakistan’s commitment to strengthening the voice of developing countries, promoting effective and predictable development financing, enhancing coordination among multilateral development institutions, and mobilising private capital to support sustainable and inclusive growth.

He reaffirmed Pakistan’s resolve to work closely with the WBG, IMF and member countries to foster constructive dialogue and contribute to a more responsive multilateral development and financial system.