Pakistan to chair IMF and World Bank Boards of Governors in 2027 — Dawn
Pakistan will chair the Boards of Governors of the International Monetary Fund and the World Bank Group in 2027. On October 16, during the plenary session of the IMF and World Bank annual meetings in Bangkok, Dawn reported, citing Pakistan's Ministry of Economic Affairs.
Federal Minister for Economic Affairs Ahad Khan Cheema, who is also Pakistan's World Bank Governor, was officially announced as the future chair. The ministry called it a historic development, as Pakistan will return to the chairmanship for the first time since 1953.
Chairmanship responsibilities
After the plenary session, Cheema received a briefing from the World Bank Group Corporate Secretariat on the chair's responsibilities. He also discussed institutional support and coordination during Pakistan's chairmanship with World Bank Group Vice President and Corporate Secretary Aradhana Kumar-Kapoor.
In addition, the minister met with Paraguayan central bank chief Carlos Carvallo Spalding, who is concluding his term as chair of the Boards of Governors. The sides discussed the responsibilities of the position and priorities for the coming year.
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Pakistan's position
During the meetings, Cheema stated Pakistan's intention to strengthen the voice of developing countries, support effective and predictable development financing, improve coordination among multilateral institutions, and mobilize private capital for sustainable and inclusive growth.
The IMF and World Bank annual meetings in Bangkok are scheduled for October 12–18. According to the source, they brought together more than 15,000 participants from 191 countries, including central bank governors, economic policy officials, and business representatives.
Pakistan is also participating in the IMF's $7 billion Extended Fund Facility program and its $1.4 billion Resilience and Sustainability Facility program. Earlier this month, Pakistan and the IMF reached a staff-level agreement following the fourth review of the first program and the third review of the second, opening the possibility for the country to receive about $1.2 billion from the Fund's resources.
