ISLAMABAD: Pakistan has been nominated to chair the World Bank Group and International Monetary Fund Boards of Governors in 2027, the Ministry of Economic Affairs announced Friday, marking the country's first such appointment since 1953.
Federal Minister for Economic Affairs Ahad Khan Cheema, who serves as Pakistan's governor to the World Bank Group, will take on the role of incoming chair of the boards of governors for both institutions, the ministry said in a statement.
The announcement was made during the plenary session of the 2026 WBG-IMF Annual Meetings in Bangkok.
The Boards of Governors are the highest decision-making bodies of the two international financial institutions. They represent member countries and set the organizations' broad direction.
"Pakistan returns to the chairmanship for the first time since 1953," the ministry said, calling it a historic milestone.
The statement said the chairmanship offers Pakistan an opportunity to contribute to global economic and development discussions and to facilitate dialogue among member countries "at a critical juncture for the multilateral system."
Following the plenary, Cheema received a briefing from the World Bank Group's Corporate Secretariat on the responsibilities of the chairmanship.
He also met with Aradhana Kumar-Capoor, the World Bank Group's vice president and corporate secretary, to discuss institutional support and coordination during Pakistan's term.
Cheema met separately with Carlos Carvallo Spalding, governor of the Central Bank of Paraguay and the outgoing chair, congratulating him on completing his tenure.
During the meetings, Cheema emphasized Pakistan's commitment to strengthening the voice of developing countries, promoting effective and predictable development financing, enhancing coordination among multilateral development institutions, and mobilizing private capital for sustainable and inclusive growth.
He reaffirmed Pakistan's intention to work closely with the World Bank Group, the IMF and member countries to foster constructive dialogue and contribute to a more responsive multilateral development and financial system.
