Pakistan calls for global financial reforms to support developing economies

Pakistan has urged changes to the international financial system so that developing economies can cope with mounting pressures, according to Mettis Global. Finance Minister Senator Muhammad Aurangzeb made the case while representing the G-24 as First Vice-Chair at a meeting of finance ministers and central bank governors in Bangkok, held alongside the World Bank Group and IMF Annual Meetings 2026.

He listed trade fragmentation, climate shocks, tighter funding conditions and larger financing shortfalls as threats to development in emerging and developing markets. He argued that international financial institutions need to update their frameworks and deliver timely help to countries hit by external shocks they cannot control.

Aurangzeb's priorities for the G-24 include placing development at the centre of the global financial system, making the Bretton Woods institutions more representative and responsive, and building an architecture that serves development goals. He acknowledged Nigeria's leadership of the group and said Pakistan, as incoming Chair, will push the shared agenda with stronger cooperation among members and institutional partners.