For the first time since 1953, Pakistan has secured the chairmanship of the Boards of Governors for the World Bank Group and the International Monetary Fund for the year 2027.
The economic ministry stated on Friday that Ahad Khan Cheema, the Federal Minister for Economic Affairs and Pakistan's representative on the World Bank board, will take over as the incoming chair for both institutions in 2027.
Delegates learned of the decision during the plenary gathering at the 2026 IMF and World Bank Group Annual Meetings held in Bangkok.
According to the ministry, this leadership role provides Pakistan a chance to engage in talks regarding international economic policy, development financing, and member state cooperation.
The highest decision-making authorities for both organizations are the Boards of Governors, which outline the general path for the two entities on behalf of member nations.
The World Bank Group Corporate Secretariat briefed Cheema on his upcoming duties after the news broke. He also sat down with Aradhana Kumar-Capoor, the WBG Vice President and Corporate Secretary, to review preparation and institutional backing for the upcoming term.
In another meeting, Cheema talked with Carlos Carvallo Spalding, who heads Paraguay's central bank and serves as the outgoing chair. Cheema praised Spalding for finishing his term while reviewing upcoming duties and priorities for the next year.
While holding these discussions, Cheema stressed that Pakistan backs stronger voices for developing nations inside global financial organizations. He additionally pointed out requirements for reliable development funding, improved teamwork across multilateral development groups, and increased private-sector funding to foster sustainable, inclusive expansion.
Cheema renewed Pakistan's dedication to partnering with the World Bank Group, the IMF, and fellow member nations to enhance global economic teamwork and adapt the international financial network to development demands.
