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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 said on Friday, October 16.
Ahad Khan Cheema, Pakistan's minister for economic affairs and the country's governor to the World Bank, was formally announced as the incoming chair during the plenary session of the 2026 IMF-World Bank Group Annual Meetings in Bangkok.
The ministry described the appointment as a historic milestone and said the chairmanship would provide an opportunity to contribute to global economic and development discussions and facilitate constructive dialogue among member countries.
Following the announcement, Cheema received a briefing from the World Bank Group's Corporate Secretariat on the responsibilities associated with the chairmanship. He also met Aradhana Kumar-Capoor, the institution's vice president and corporate secretary, to discuss coordination during Pakistan's tenure.
Cheema also held discussions with the outgoing chair, Carlos Carvallo Spalding, president of Paraguay's central bank, on the responsibilities of the position and priorities for the coming year.
According to the ministry, Cheema highlighted the need to strengthen the representation of developing countries, improve access to development financing and promote coordination among multilateral financial institutions.
The 2026 IMF-World Bank Annual Meetings are being held in Bangkok from October 12 to 18 and have brought together more than 15,000 participants from 191 countries.
Pakistan is currently engaged with the IMF under two financial support programmes: a $7 billion Extended Fund Facility (EFF) and a $1.4 billion Resilience and Sustainability Facility (RSF).
The EFF is intended to help Pakistan meet its balance-of-payments needs and support economic reforms. The RSF provides longer-term financing to help the country address climate-related risks and strengthen its resilience.
On October 7, the IMF reached a staff-level agreement with Pakistani authorities on the latest reviews of both programmes. The agreement could pave the way for an additional $1.2 billion in financing, subject to approval by the IMF's Executive Board.
The anticipated disbursement comprises approximately $1 billion under the EFF and $210 million under the RSF, taking the combined amount to about $1.21 billion. The proposed disbursement remains subject to the Executive Board's decision.
Ahad Khan Cheema, Pakistan's minister for economic affairs and the country's governor to the World Bank, was formally announced as the incoming chair during the plenary session of the 2026 IMF-World Bank Group Annual Meetings in Bangkok.
The ministry described the appointment as a historic milestone and said the chairmanship would provide an opportunity to contribute to global economic and development discussions and facilitate constructive dialogue among member countries.
Following the announcement, Cheema received a briefing from the World Bank Group's Corporate Secretariat on the responsibilities associated with the chairmanship. He also met Aradhana Kumar-Capoor, the institution's vice president and corporate secretary, to discuss coordination during Pakistan's tenure.
Cheema also held discussions with the outgoing chair, Carlos Carvallo Spalding, president of Paraguay's central bank, on the responsibilities of the position and priorities for the coming year.
According to the ministry, Cheema highlighted the need to strengthen the representation of developing countries, improve access to development financing and promote coordination among multilateral financial institutions.
The 2026 IMF-World Bank Annual Meetings are being held in Bangkok from October 12 to 18 and have brought together more than 15,000 participants from 191 countries.
Pakistan's IMF loan programmes
Pakistan is currently engaged with the IMF under two financial support programmes: a $7 billion Extended Fund Facility (EFF) and a $1.4 billion Resilience and Sustainability Facility (RSF).
The EFF is intended to help Pakistan meet its balance-of-payments needs and support economic reforms. The RSF provides longer-term financing to help the country address climate-related risks and strengthen its resilience.
On October 7, the IMF reached a staff-level agreement with Pakistani authorities on the latest reviews of both programmes. The agreement could pave the way for an additional $1.2 billion in financing, subject to approval by the IMF's Executive Board.
The anticipated disbursement comprises approximately $1 billion under the EFF and $210 million under the RSF, taking the combined amount to about $1.21 billion. The proposed disbursement remains subject to the Executive Board's decision.
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