Pakistan Gets 2027 Chairmanship Of IMF, World Bank Boards After 74 Years, Calls Appointment 'Historic Milestone'

(MENAFN- Live Mint) Pakistan will take over as chair of the Boards of Governors of the International Monetary Fund (IMF) and the World Bank Group (WBG) in 2027, marking its return to the position after more than seven decades, the country's Ministry of Economic Affairs said on Friday.

Ahad Khan Cheema, Pakistan's Minister for Economic Affairs and its governor to the World Bank, was named the incoming chair during the plenary session of the 2026 WBG-IMF Annual Meetings in Bangkok.

Describing the appointment as a "historic milestone", the ministry said the role would give Islamabad an opportunity to participate in global discussions on economic and development issues and encourage constructive engagement among member countries.

“At the Plenary Session of the 2026 #IMFWBGMeetings2026 in Bangkok, Federal Minister for Economic Affairs and Governor WBG, Mr. @AhadKhanCheema1 was formally announced as the Chair of the Boards of Governors of the World Bank Group and IMF for 2027,” Pakistan's Ministry of Economic Affairs wrote on X.

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“This marks a significant milestone for Pakistan, returning to the Chairmanship for the first time since 1953. The Minister also met Ms. Aradhana Kumar-Capoor, WBG Vice President and Corporate Secretary, and Mr. Carlos Carvallo Spalding, outgoing Chair, to exchange views on the role and its stewardship,” it added.

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“Pakistan will seek to foster inclusive dialogue, amplify the perspectives of developing economies, and advance a more responsive multilateral development and financial system,” it further said.

Pakistan's engagement with the IMF and loan programmes

The IMF-WBG annual meetings, being held from October 12 to 18, have brought together more than 15,000 participants from 191 countries.

Pakistan is engaged with the IMF under a USD 7 billion Extended Fund Facility (EFF) and a USD 1.4 billion Resilience and Sustainability Facility (RSF).

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Pakistan is using funds under the Extended Fund Facility (EFF) to meet its balance-of-payments requirements and advance economic reforms. The Resilience and Sustainability Facility (RSF), meanwhile, offers longer-term financial support to help the country mitigate climate-related risks and improve its ability to withstand them.

The country could receive around $1.2 billion from the IMF, subject to clearance by the Fund's Executive Board, following an agreement between IMF staff and Pakistani authorities on the latest reviews of both lending programmes.

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