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

According to the Ministry of Economic Affairs, Pakistan will hold the chair of the governing boards at the World Bank Group and the IMF in 2027, a first since 1953. Economic Affairs Minister Ahad Khan Cheema has been nominated to lead both boards for the year, an announcement made during the plenary session of the annual meetings in Bangkok, Thailand.

After the announcement, Cheema received a briefing from the WBG's Corporate Secretariat on what the role involves. He also held talks with Corporate Secretary Aradhana Kumar Capoor about institutional support and coordination for Pakistan's term, then met outgoing chairman Carlos Carvalho Spalding to congratulate him on finishing his tenure. The pair also discussed priorities for the coming year, according to the ministry.

Cheema said Pakistan aims to strengthen the voice of developing countries, secure predictable development finance, improve coordination among multilateral institutions and draw private capital toward sustainable, inclusive growth. Separately, Finance Minister Muhammad Aurangzeb, who leads the delegation in Bangkok, cited a fiscal deficit at a 22-year low, three straight years of primary surpluses and stronger foreign exchange reserves, and met World Bank Group President Ajay Banga during an evening meal hosted by Thailand's prime minister, according to a post on X by Pakistan Television.