Pakistan to chair IMF, World Bank boards of governors after 74 years

Business Recorder reported that Pakistan will chair the governing boards of the IMF and the World Bank Group in 2027, the first such stint for the country since 1953. The Ministry of Economic Affairs made the announcement on Friday. Federal Minister Ahad Khan Cheema, who is also Pakistan's governor at the World Bank, was formally confirmed as incoming chair at the plenary of the 2026 annual meetings in Bangkok.

The annual meetings, running from October 12 to 18 in Bangkok, have attracted over 15,000 attendees from 191 countries. Calling the selection historic, the ministry said the role would let Pakistan engage more actively in global economic and development discussions. Cheema was briefed by the World Bank Group's Corporate Secretariat on the duties attached to the post, and he then met Aradhana Kumar-Capoor, the group's vice president and corporate secretary, to talk over support for Pakistan's tenure.

Cheema also met Carlos Carvallo Spalding, Paraguay's central bank governor and the outgoing chair, to discuss priorities for the year ahead. He stressed amplifying developing countries' voice, predictable financing and mobilising private investment for inclusive growth. Pakistan and the IMF struck a staff-level deal earlier this month after the fourth EFF review and third RSF review, making the country eligible for roughly $1.2 billion from the Fund, subject to approvals.