Pakistan takes over G-24 chairmanship and outlines priorities — Dawn

Pakistan has assumed the chairmanship of the Group of 24 (G-24), an intergovernmental grouping of developing countries that coordinates positions on international monetary and financial issues. Pakistan’s Finance Minister Muhammad Aurangzeb said the country would seek to strengthen the collective voice of developing economies and help shape a fairer, development-oriented international financial system, Dawn reports.

Three priorities of the chairmanship

According to Aurangzeb, Pakistan will focus on three areas: returning development issues to the center of global economic policy, strengthening multilateral mechanisms, and advancing a development-oriented international financial architecture.

The minister stressed that macroeconomic stability must be the foundation for investment, productivity, employment, and shared prosperity. In his view, this will help developing countries and low-income states move from crisis management to sustainable growth.

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Financing and participation in decision-making

Pakistan also intends to advocate for fairer governance, meaningful participation in decision-making, and a greater capacity of the Bretton Woods institutions to respond to the needs and realities of their members. The stated priorities include affordable and timely development financing, sustainable debt solutions, stronger global financial safety nets, climate resilience, and more active mobilization of public and private capital.

The G-24 was established in 1971 as a coalition of developing countries to coordinate their approaches to international monetary and financial issues.