Pakistan to Chair IMF-World Bank Boards of Governors in 2027 for the First Time Since 1953
Pakistan has been named the incoming chair of the Boards of Governors of the International Monetary Fund (IMF) and the World Bank Group (WBG) for 2027, marking the country’s return to the position for the first time since 1953, Pakistan’s Ministry of Economic Affairs announced on Friday, October 16.
Ahad Khan Cheema, Pakistan’s Minister for Economic Affairs and the country’s Governor to the World Bank, was formally announced as the incoming chair during the plenary session of the 2026 IMF-World Bank Group Annual Meetings in Bangkok.
The ministry described the appointment as a historic milestone, stating that the chairmanship would provide Pakistan with an opportunity to contribute to global economic and development discussions and promote constructive dialogue among member countries.
Following the announcement, Cheema received a briefing from the World Bank Group’s Corporate Secretariat on the responsibilities associated with the position. He also met Aradhana Kumar-Capoor, the institution’s Vice President and Corporate Secretary, to discuss coordination during Pakistan’s tenure.
Cheema also held discussions with the outgoing chair, Carlos Carvallo Spalding, President of Paraguay’s central bank, regarding the responsibilities of the position and priorities for the coming year.
According to the ministry, Cheema emphasised the need to strengthen the representation of developing countries, improve access to development financing and enhance coordination among multilateral financial institutions.
The 2026 IMF-World Bank Annual Meetings are being held in Bangkok from October 12 to 18, bringing together more than 15,000 participants from 191 countries.
Pakistan is currently receiving financial support from the IMF under two programmes: a 7 billion Extended Fund Facility (EFF) and a $1.4 billion Resilience and Sustainability Facility (RSF).
The EFF aims to help Pakistan meet its balance-of-payments requirements and support economic reforms. The RSF provides longer-term financing to help the country address climate-related risks and strengthen its resilience.
On October 7, the IMF reached a staff-level agreement with Pakistani authorities following the latest reviews of both programmes. The agreement could pave the way for additional financing of approximately 1.21 billion, subject to approval by the IMF’s Executive Board.
The proposed disbursement comprises around 1 billion under the EFF and $210 million under the RSF. The release of the funds remains subject to the Executive Board’s final decision.
