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.
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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.
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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.
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