Pakistan takes G-24 chairmanship, sets three global finance priorities

Pakistan assumed the chairmanship of the Intergovernmental Group of Twenty-Four (G-24) on 1 November 2026, with Finance Minister Muhammad Aurangzeb setting out an agenda focused on development, developing economies’ influence in multilateral institutions and reform of the international financial system.

Aurangzeb said Pakistan would seek to put development at the centre of economic policymaking, support greater participation by developing countries in international institutions, and advance changes to the financial architecture. The proposed agenda also covers increased public and private capital mobilisation, climate resilience, stronger global financial safety nets, sustainable debt solutions and development financing that is affordable and timely.

He said economic stability should help underpin investment, productivity, employment and shared prosperity. Pakistan would work with G-24 members in Africa, Asia, Latin America and the Caribbean, as well as the International Monetary Fund, the World Bank and other international partners. Aurangzeb acknowledged Nigeria as the outgoing chair and said Pakistan would build on the group’s work.

The future of developing economies is not peripheral to the future of the global economy. It is central to it.

Prime Minister Shehbaz Sharif welcomed the appointment, calling it a diplomatic milestone and saying it would give Pakistan a platform to advocate changes to global finance, climate-related financial support and sustainable development opportunities. President Asif Ali Zardari also welcomed the chairmanship, citing its potential to support development financing and international financial cooperation.

The G-24 is a group of developing countries that coordinates positions on international monetary and financial issues. Aurangzeb said Pakistan would draw on its experience with economic stabilisation and reform while advocating financing and policy space for countries pursuing sustainable growth.