Pakistan assumes G-24 chairmanship, seeks reforms in global financial system

Pakistan has taken over the chairmanship of the Intergovernmental Group of Twenty-Four (G-24), with Finance Minister Muhammad Aurangzeb setting out an agenda focused on the role of developing economies in global decision-making. The Finance Division said on Sunday that priorities include making development central to economic policymaking, expanding developing countries’ participation in multilateral institutions and changing the international financial architecture.

Aurangzeb also called for more affordable development finance, sustainable debt arrangements, stronger financial safety nets and greater climate resilience. He said economic stability should help support investment, productivity and jobs, while developing and low-income countries need room to pursue sustainable growth. Prime Minister Shehbaz Sharif welcomed the appointment, calling it a diplomatic milestone and saying it would give Pakistan a platform to advocate financial reform, equitable climate financing and growth opportunities. Pakistan plans to work with G-24 members, the IMF, the World Bank and other partners.