Pakistan to chair IMF, World Bank boards in 2027 for first time since 1953

Pakistan will chair the boards of governors of the World Bank Group (WBG) and the International Monetary Fund (IMF) in 2027 for the first time since 1953, with Economic Affairs Minister Ahad Khan Cheema nominated to lead both institutions’ boards for the year, the Ministry of Economic Affairs said on Friday.

The announcement was made during the plenary session of the annual meetings of the WBG and the IMF in Bangkok, Thailand.

The ministry said Cheema had been briefed by the WBG’s 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 tenure.

Cheema also met outgoing chairman Carlos Carvalho Spalding and congratulated him on successfully completing his term. The two discussed the responsibilities of the chairmanship and priorities for the coming year, the ministry added.

Cheema said Pakistan would work to amplify the voice of developing countries and ensure the effective and predictable provision of development finance.

He said Pakistan remained committed to improving coordination among multilateral development institutions and sought to mobilise private investment to support sustainable and inclusive growth.

Pakistan would work with the WBG, the IMF and member countries to strengthen the multilateral development and financial system, Cheema said.

The annual meetings of the International Monetary Fund (IMF) and the World Bank Group are being held in Bangkok, Thailand, with Pakistan’s delegation, led by Finance Minister Muhammad Aurangzeb, engaging with international lenders, investors and development partners on economic reforms, financing and investment opportunities.

During the meetings, Aurangzeb highlighted Pakistan’s fiscal deficit falling to a 22-year low, three consecutive years of primary surpluses and improved foreign exchange reserves, while reaffirming the government’s commitment to structural reforms and sustainable, export-led growth. Pakistan has also called for reforms to the international financial system to make multilateral institutions more representative and responsive to the needs of developing countries.

Aurangzeb meets World Bank chief

Finance and Revenue Minister Muhammad Aurangzeb met World Bank Group President Ajay Banga at a dinner hosted by Thailand’s prime minister on the sidelines of the World Bank Group–IMF Annual Meetings 2026 in Bangkok, Pakistan Television said in a post on X.

“The occasion provided an opportunity for informal interaction alongside the ongoing high-level engagements at the annual meetings,” the post said.