Pakistan will chair the Boards of Governors of the International Monetary Fund (IMF) and the World Bank Group in 2027, returning to the positions for the first time since 1953, 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, has been named the incoming chair of both boards for the next year, according to the ministry.
The announcement came during the plenary session of the 2026 Annual Meetings of the World Bank Group and IMF in Bangkok.
The ministry said Pakistan’s appointment would provide an opportunity to contribute to international discussions on economic policy, development priorities, and cooperation among member countries.
The Boards of Governors serve as the highest decision-making authorities within the two institutions. Their members represent participating countries and establish the broad policy direction of the IMF and World Bank Group.
After the announcement, Cheema attended a briefing by the World Bank Group’s Corporate Secretariat on the chair’s responsibilities. He also held talks with WBG Vice President and Corporate Secretary Aradhana Kumar-Capoor about administrative support and coordination for Pakistan’s upcoming tenure.
Cheema later met outgoing chair Carlos Carvallo Spalding, who also serves as governor of Paraguay’s central bank. The two discussed the role’s responsibilities and priorities for the coming year, while Cheema congratulated Spalding on completing his term.
During the discussions, Cheema called for greater representation of developing economies in international financial institutions. He also stressed the importance of reliable development financing, stronger coordination between multilateral development institutions, and increased private investment to support inclusive and sustainable economic growth.
He reaffirmed Pakistan’s willingness to work with the IMF, World Bank Group, and other member countries to strengthen international cooperation and improve the effectiveness of the global development and financial system.
