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BANGKOK: Pakistan will assume the chairmanship of the Boards of Governors of the World Bank Group (WBG) and the International Monetary Fund (IMF) in 2027, marking the country\u2019s first return to the position since 1953, the Ministry of Economic Affairs said on Friday.<\/strong><\/p>\n Federal Minister for Economic Affairs and Pakistan\u2019s Governor to the WBG, Ahad Khan Cheema, has been formally announced as the incoming chair of the Boards of Governors of both institutions for 2027.<\/p>\n The announcement was made during the plenary session of the 2026 WBG\u2013IMF Annual Meetings in Bangkok, marking a significant milestone for Pakistan\u2019s role in international economic and development affairs.<\/p>\n The upcoming chairmanship will provide Pakistan with an opportunity to contribute to global economic and development discussions and facilitate constructive dialogue among member countries at a critical juncture for the multilateral financial system.<\/p>\n Following the plenary session, Cheema received a briefing from the WBG Corporate Secretariat on the responsibilities of the chairmanship. He also met Aradhana Kumar-Capoor, the WBG\u2019s vice president and corporate secretary, to discuss institutional support and coordination during Pakistan\u2019s tenure.<\/p>\n Cheema also met Carlos Carvallo Spalding, governor of Paraguay\u2019s central bank and outgoing chair of the Boards of Governors. He congratulated Spalding on the successful completion of his tenure and commended his stewardship.<\/p>\n The two exchanged views on the responsibilities of the office and priorities for the year ahead, allowing Pakistan to benefit from the outgoing chair\u2019s experience and insights.<\/p>\n During the meetings, Cheema reaffirmed Pakistan\u2019s commitment to strengthening the voice of developing countries, promoting effective and predictable development financing, improving coordination among multilateral development institutions, and mobilising private capital to support sustainable and inclusive growth.<\/p>\n He also reiterated Pakistan\u2019s resolve to work closely with the WBG, IMF and member countries to promote constructive dialogue and contribute to a more responsive international development and financial system.<\/p>\n