Pakistan has been named the incoming chair of the Boards of Governors of the International Monetary Fund (IMF) and the World Bank Group (WBG) for 2027, returning to the position for the first time since 1953. The country's Ministry of Economic Affairs made the announcement on Friday, October 16.
Announcement made in Bangkok
The designation was formally announced during the plenary session of the 2026 WBG-IMF Annual Meetings in Bangkok, where Pakistan's Minister for Economic Affairs, Ahad Khan Cheema, was designated as the incoming chair. Cheema also serves as Pakistan's Governor to the World Bank.
The ministry described the development as a "historic milestone" for the country, saying the chairmanship would give Islamabad an opportunity to contribute to global economic and development discussions and help facilitate constructive dialogue among member countries.
Meetings and context
The 2026 Annual Meetings, being held from October 12 to 18 in Bangkok, have drawn more than 15,000 participants from 191 countries, according to the PTI report.
The appointment comes while Pakistan remains engaged with the IMF under two lending programmes: a $7 billion Extended Fund Facility (EFF) aimed at addressing the country's balance-of-payments needs and supporting economic reforms, and a $1.4 billion Resilience and Sustainability Facility (RSF) focused on longer-term financing for climate-related risks and resilience.
IMF staff and Pakistani authorities reached a staff-level agreement on the fourth review of the two programmes on October 7, which could unlock about $1.2 billion in additional financing — subject to approval by the IMF's Executive Board.
The 2027 Annual Meetings, which Pakistan will preside over, are scheduled to take place in Washington from October 4 to 9.
Sources:
- Pakistan to chair IMF, World Bank boards next year for first time since 1953 — The Hindu
- Pakistan to chair IMF, World Bank boards next year for first time since 1953 — The HinduBusinessLine (PTI)
- Pakistan to chair 2027 World Bank, IMF boards for first time since 1953 — The Week
Announcement made in Bangkok
The designation was formally announced during the plenary session of the 2026 WBG-IMF Annual Meetings in Bangkok, where Pakistan's Minister for Economic Affairs, Ahad Khan Cheema, was designated as the incoming chair. Cheema also serves as Pakistan's Governor to the World Bank.
The ministry described the development as a "historic milestone" for the country, saying the chairmanship would give Islamabad an opportunity to contribute to global economic and development discussions and help facilitate constructive dialogue among member countries.
Meetings and context
The 2026 Annual Meetings, being held from October 12 to 18 in Bangkok, have drawn more than 15,000 participants from 191 countries, according to the PTI report.
The appointment comes while Pakistan remains engaged with the IMF under two lending programmes: a $7 billion Extended Fund Facility (EFF) aimed at addressing the country's balance-of-payments needs and supporting economic reforms, and a $1.4 billion Resilience and Sustainability Facility (RSF) focused on longer-term financing for climate-related risks and resilience.
IMF staff and Pakistani authorities reached a staff-level agreement on the fourth review of the two programmes on October 7, which could unlock about $1.2 billion in additional financing — subject to approval by the IMF's Executive Board.
The 2027 Annual Meetings, which Pakistan will preside over, are scheduled to take place in Washington from October 4 to 9.
Sources:
- Pakistan to chair IMF, World Bank boards next year for first time since 1953 — The Hindu
- Pakistan to chair IMF, World Bank boards next year for first time since 1953 — The HinduBusinessLine (PTI)
- Pakistan to chair 2027 World Bank, IMF boards for first time since 1953 — The Week
