Pakistan will chair the World Bank Group and International Monetary Fund Boards of Governors in 2027, returning to the role after 74 years.
The Ministry of Economic Affairs announced the nomination on Friday, October 16. Economic Affairs Minister Ahad Khan Cheema will assume the chairmanship, Pakistan’s first since 1953.
“Federal Minister for Economic Affairs and Governor WBG for Pakistan, Ahad Khan Cheema, has been formally announced as the incoming Chair of the Boards of Governors of the World Bank Group (WBG) and the International Monetary Fund (IMF) for 2027,” the ministry said.
The announcement came during the plenary session of the 2026 World Bank–IMF Annual Meetings in Bangkok. The meetings run from October 12 to 18, bringing together policymakers to discuss economic and development challenges.
Pakistan outlines priorities for chairmanship
The ministry said the appointment would give Pakistan an opportunity to contribute to international economic discussions and support cooperation among member countries.
“The forthcoming chairmanship provides Pakistan an important opportunity to contribute to global economic and development deliberations and facilitate constructive dialogue among member countries at a critical juncture for the multilateral system,” the statement said.
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During his meetings, Cheema outlined Pakistan’s priorities for the role. These include strengthening developing countries’ voice and promoting effective, predictable development financing.
He also stressed closer coordination among multilateral development institutions and greater mobilisation of private capital for sustainable, inclusive growth.
Cheema reaffirmed Pakistan’s commitment to working with the World Bank, IMF and member countries. He pledged to encourage constructive dialogue and support a more responsive international development and financial system.
Cheema discusses transition and institutional support
Following the plenary, the World Bank Group Corporate Secretariat briefed Cheema on the chairmanship’s responsibilities.
He also met Aradhana Kumar-Capoor, the World Bank Group’s vice president and corporate secretary. Their discussions covered institutional support and coordination during Pakistan’s term.
Separately, Cheema met outgoing chair Carlos Carvallo Spalding, who also serves as governor of Paraguay’s central bank.
Cheema congratulated Spalding on completing his tenure and praised his stewardship. They discussed the office’s responsibilities and priorities for the coming year.
The exchange gave Pakistan’s incoming chair an opportunity to draw on Spalding’s experience before taking up the position.
What the Boards of Governors do
The Boards of Governors serve as the institutions’ highest decision-making bodies. They represent member countries and set the organisations’ broad direction.
Each member country appoints a governor and an alternate governor. Governors typically hold senior government positions, including finance or development minister.
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The IMF’s governors retain authority over major institutional decisions, including quota increases, new memberships and amendments to its governing agreement.
However, they delegate most powers to the Executive Board, which conducts the Fund’s day-to-day business. This distinction places Pakistan’s forthcoming chairmanship within the institutions’ governing framework, while executive bodies continue their operational responsibilities.
