Pakistan to Chair World Bank, IMF Boards in 2027

Pakistan will assume the chairmanship of the boards of governors of the World Bank Group (WBG) and the International Monetary Fund (IMF) in 2027. The announcement was made at the plenary session of the WBG-IMF Annual Meetings in Bangkok, where Federal Minister for Economic Affairs Ahad Cheema was nominated as chairman of both boards for the coming year.

According to the Ministry of Economic Affairs, this is the first time since 1953 that Pakistan will preside over the boards of governors of both institutions. The ministry described it as a significant opportunity for Pakistan to play an effective role in global economic and development affairs.

Preparations

• The World Bank Group’s Corporate Secretariat briefed Cheema on the responsibilities of the chairmanship.

• He met Aradhana Kumar-Capoor, vice president and corporate secretary of the World Bank Group, to discuss institutional support and coordination for Pakistan’s tenure.

• He also met the outgoing chairman, Carlos Carvalho Spalding, and congratulated him on completing his tenure.

Pakistan’s Priorities

Cheema said Pakistan remains committed to making the voice of developing nations more effective in international economic and development forums. He said Pakistan will work with the WBG, the IMF and member countries to strengthen the global development and financial architecture and improve coordination among multilateral institutions. Its priorities will include mobilising private investment for sustainable and inclusive growth and ensuring development finance is delivered effectively and predictably.