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- Pakistan to Chair IMF , World Bank Boards in 2027 After 74 Years
Pakistan has been named chair of the Boards of Governors of the IMF and World Bank Group for 2027, its first time in the role since 1953. The Ministry of Economic Affairs announced on October 16 during the 2026 Annual Meetings in Bangkok that Federal Minister Ahad Khan Cheema, also Pakistan's World Bank governor, will take the post. Pakistan aims to strengthen representation for developing nations, expand access to development financing, and boost private investment for sustainable, inclusive growth. The chairmanship is mainly diplomatic and procedural, while loan decisions stay with the institutions' Executive Boards. Pakistan currently has a $7 billion Extended Fund Facility and a $1.4 billion Resilience and Sustainability Facility with the IMF, and a recent staff-level deal could unlock about $1.21 billion, subject to Executive Board approval.
- Pakistan to chair World Bank , IMF boards in 2027 for first time since 1953
Pakistan's Federal Minister for Economic Affairs, Ahad Khan Cheema, has been formally named incoming chair of the Boards of Governors of the World Bank Group and the IMF for 2027, the first time Pakistan has held the role since 1953. The announcement was made at the plenary session of the 2026 Annual Meetings in Bangkok. Cheema received a briefing on the chair's responsibilities and met outgoing chair Carlos Carvallo Spalding, governor of the Central Bank of Paraguay, to discuss priorities for the year ahead. He stressed strengthening the voice of developing countries, predictable development financing, coordination among multilateral institutions and mobilizing private capital.
- IMF Borrower Pakistan to Chair IMF and World Bank Boards for First Time Since 1953
Pakistan is awaiting IMF Executive Board approval for about $1.2 billion in new financing: roughly $1 billion from its $7 billion Extended Fund Facility and $210 million from its $1.4 billion Resilience and Sustainability Facility, which would bring total disbursements under the two to about $5.7 billion. Real GDP grew 4% in the first three quarters of FY2026 (3.6% estimated for the full year), inflation eased to about 10.3% in September from its May peak, and reserves reached around $21 billion at end-September. Still, geopolitical tensions, volatile energy prices and tighter global financial conditions threaten the recovery, and Pakistan remains heavily reliant on external lenders, while the World Bank considers its growth model unsustainable. Pakistan will chair the Boards of Governors of the IMF and World Bank Group in 2027, the first time since 1953, a post with diplomatic weight but no control over lending decisions.
- Pakistan to chair IMF , World Bank boards for first time in over 7 decades
Pakistan has been named chair of the Boards of Governors of the IMF and World Bank Group for 2027, its first time in the role since 1953, the Ministry of Economic Affairs said. Federal Minister for Economic Affairs Ahad Khan Cheema, who is also Pakistan's governor to the World Bank, was formally announced as the incoming chair at the plenary session of the 2026 WBG-IMF Annual Meetings in Bangkok, which run from October 12 to 18 and have drawn more than 15,000 participants from 191 countries. Cheema met outgoing chair Carlos Carvallo Spalding, governor of Paraguay's central bank, to discuss the responsibilities and priorities of the role. The announcement follows a staff-level agreement between Pakistan and the IMF after the fourth EFF review and third RSF review, which makes the country eligible for around $1.2 billion from the Fund, subject to approval.
- Bangkok Post - IMF / World Bank meetings leave developing countries with more questions than answers
IMF and World Bank meetings last week offered developing countries no new answers to the challenges posed by the Middle East war, the war in Ukraine, rising debt payments and a potential AI bubble. IMF chief Kristalina Georgieva said advanced economies were the worst offenders on budget imbalances, while average debt service payments in developing countries had more than doubled over a decade to 14% of government revenue. Experts said the institutions were poorly prepared for this new phase, and Georgieva warned people not to trust those claiming to have AI answers. The World Bank said developing-country growth had slowed to around 3.6% from 4.4%, and repeated shocks made outlooks worse than before. Floods in September caused almost $200 million in damage to Thailand's industrial sector, a reminder of the challenges facing developing economies.
- UAE concludes participation in IMF & World Bank Group annual meetings in Bangkok
The UAE concluded its participation in the 2026 Annual Meetings of the IMF and World Bank Group, held in Bangkok from 12 to 18 October, with a Ministry of Finance delegation led by Minister of State for Financial Affairs Mohamed bin Hadi Al Hussaini. The delegation attended ministerial sessions, including the G20 Finance Ministers and Central Bank Governors meeting, a MENAP meeting with IMF Managing Director Kristalina Georgieva, and a meeting of Arab governors with World Bank President Ajay Banga. Al Hussaini said the UAE aims to safeguard global financial stability, energy security, supply chain stability, and development financing. The UAE also hosted the 2026 UAE Banks Reception in Bangkok and held bilateral talks with counterparts from New Zealand, Switzerland, the Netherlands, and China, as well as the EBRD president.
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