Pakistan to Chair IMF, World Bank Boards in 2027 After 74 Years
The Pakistan IMF World Bank chair 2027 announcement came during the plenary session of the 2026 WBG-IMF annual meetings in Bangkok, where Economic Affairs Minister Ahad Khan Cheema was formally named incoming chair of the boards of governors of the International Monetary Fund and the World Bank Group. The Ministry of Economic Affairs said Pakistan would return to the leadership of both institutions for the first time since 1953.
Announcement in Bangkok
Cheema, who also serves as Pakistan’s governor to the World Bank, was named incoming chair on Friday at the annual meetings being held in Bangkok from October 12 to 18. More than 15,000 participants from 191 countries are attending this year’s meetings of the two Bretton Woods institutions.
The ministry described the appointment as a historic milestone. It said the chairmanship would give Pakistan an opportunity to contribute to global economic and development discussions and to encourage constructive dialogue among member countries.
Pakistan IMF World Bank chair 2027: what the role involves
The chairmanship is mainly a procedural and diplomatic role. It does not give Pakistan extra voting rights, preferential access to financing, or authority to approve IMF programmes and World Bank loans. Both institutions are run day to day by their executive boards, while the boards of governors remain their highest governing bodies.
Under the bylaws of the two institutions, a governor is selected to act as chair at each annual meeting, with the appointment running until the conclusion of the following annual meeting. The position rotates among member countries, including developing economies, and is not reserved for the largest shareholders. The chair sets the order of speaking at each session and may brief the press alongside the World Bank president and the IMF managing director.
Pakistan last held the position in 1953, when finance and economic affairs minister Mohamad Ali chaired the eighth annual meetings of the IMF and the International Bank for Reconstruction and Development in Washington. India chaired the meetings in Paris in 1950, Ceylon (now Sri Lanka) in 1968, and Nepal in 1999.
Cheema’s meetings on the sidelines
After the plenary session, Cheema received a briefing from the WBG Corporate Secretariat on the responsibilities of the chairmanship, and met the World Bank Group’s vice president and corporate secretary, Aradhana Kumar-Capoor, on institutional support during Pakistan’s tenure. He then met the outgoing chair, Carlos Carvallo Spalding, governor of the Central Bank of Paraguay, and congratulated him on completing his term.
The minister said Pakistan would work to amplify the voice of developing countries and ensure effective and predictable development finance. He added that Pakistan would push for better coordination among multilateral development institutions and work to mobilise private investment for sustainable and inclusive growth.
Finance Minister Muhammad Aurangzeb separately met World Bank Group President Ajay Banga at a dinner hosted by the prime minister of Thailand, according to state-run Pakistan Television.
IMF programme runs in the background
The chairmanship arrives while Pakistan remains engaged with the IMF under a $7 billion Extended Fund Facility and a $1.4 billion Resilience and Sustainability Facility. Earlier this month, Pakistan and the Fund reached a staff-level agreement after the fourth review under the EFF and the third review under the RSF, and about $1.2 billion in additional financing is expected once the IMF’s Executive Board approves the reviews. The development comes in the same week Pakistan’s external account swung to a $4.39 billion deficit in September.
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Frequently asked questions
When will Pakistan chair the IMF and World Bank boards?
In 2027. Ahad Khan Cheema was announced as incoming chair at the 2026 annual meetings in Bangkok, and Pakistan will preside over the 2027 meetings, scheduled from October 4 to 9 in Washington.
When did Pakistan last chair these boards?
In 1953, when finance and economic affairs minister Mohamad Ali chaired the eighth annual meetings of the IMF and the International Bank for Reconstruction and Development in Washington, 74 years ago.
Will the chairmanship give Pakistan more IMF loans?
No. The chairmanship is procedural and diplomatic. It does not give Pakistan additional voting rights, preferential access to financing, or authority to approve IMF programmes and World Bank loans, which remain with the executive boards of both institutions.
How is the chair of the boards of governors chosen?
The bylaws of the IMF and the World Bank require each board of governors to select one of its governors to act as chair at each annual meeting. The position rotates among member countries and lasts until the conclusion of the following annual meeting.
