Pakistan to Chair G-24 as Membership of Developing-Nation Group Expands to 28
Pakistan will chair the Intergovernmental Group of Twenty-Four (G-24), the forum of developing and emerging economies, as the group’s membership expands to 28 countries, in a Pakistan G-24 chairmanship that puts Islamabad at the head of the developing world’s finance agenda.
The group brings together countries from Africa, Asia, the Middle East, Latin America and the Caribbean to discuss issues affecting developing economies, with a focus on economic and financial policy.
The Expanded Membership
According to the membership details provided, the expanded group comprises 28 countries across three regions: 11 from Africa, seven from Asia and the Middle East, and 10 from Latin America and the Caribbean.
The African members are Algeria, Ghana, Côte d’Ivoire, Kenya, Congo, Morocco, Egypt, Nigeria, Ethiopia, South Africa and Gabon. The Asian and Middle Eastern members are Pakistan, Iran, India, Lebanon, the Philippines, Sri Lanka and Syria. The Latin American and Caribbean members include Argentina, Brazil, Colombia, Ecuador, Guatemala, Haiti, Mexico, Peru, Trinidad and Tobago, and Venezuela.
Why the Pakistan G-24 Chairmanship Matters
The G-24 coordinates the positions of developing countries on international monetary and financial issues, particularly at the IMF and the World Bank. The chairmanship gives Pakistan a leadership role in shaping that collective voice at a moment when debt, borrowing costs and energy shocks dominate the agenda.
That timing is significant. Finance Minister Muhammad Aurangzeb spoke as the group’s First Vice-Chair at a meeting of finance ministers and central bank governors in Bangkok, on the sidelines of the World Bank Group-IMF Annual Meetings 2026, where he called for reforms to the international financial system to make it more representative and responsive to developing economies. Pakistan is expected to assume the chairmanship at the conclusion of the Annual Meetings, succeeding Nigeria.
Aurangzeb outlined three priorities for the G-24: restoring development as the international financial system’s central objective, making the Bretton Woods institutions more representative and responsive, and building a development-oriented global financial architecture. He pointed to trade and investment disruptions, climate shocks, restrictive financial conditions and widening financing gaps as the pressures developing countries face.
The IMF has told developing countries they have no choice but to cut spending as the Iran war energy shock bites, and it has raised Pakistan’s own inflation forecast to 9.9 percent for FY27 while holding growth at 3.5 percent. Chairing the G-24 gives Islamabad a platform to push for targeted subsidies and fairer financing terms for emerging economies rather than accepting one-size-fits-all prescriptions.
Pakistan has been building its multilateral profile on this front. Finance Minister Aurangzeb is set to chair the Borrowers’ Platform Governing Council, and the rupee recently closed at 276.97 against the dollar, its strongest level in almost three years. The G-24 chairmanship extends that diplomatic and economic footprint.
For Pakistan’s own economy, the forum offers more than prestige. As a borrowing developing economy, Islamabad benefits when the G-24 pushes for debt restructuring mechanisms, fairer lending terms and climate finance — all live issues as Pakistan manages its IMF programme and looks to keep investor confidence steady, with buying returning to the PSX this week.
FAQs
What is the G-24?
The Intergovernmental Group of Twenty-Four is a forum of developing and emerging economies from Africa, Asia, the Middle East, Latin America and the Caribbean. It coordinates their positions on international monetary and financial issues, mainly at the IMF and the World Bank.
How many countries are in the expanded G-24?
The expanded group has 28 member countries: 11 from Africa, seven from Asia and the Middle East, and 10 from Latin America and the Caribbean.
What does Pakistan’s chairmanship mean?
It gives Pakistan a leadership role in the group’s agenda, letting Islamabad shape how developing countries approach debt, subsidies, borrowing costs and financial governance at global institutions.
