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ISLAMABAD: Pakistan has been named the incoming chair of the Boards of Governors of the International Monetary Fund (IMF) and the World Bank Group for 2027, marking the country’s first time in the position since 1953.
The announcement was made during the 2026 annual meetings held in Bangkok. Minister for Economic Affairs Ahad Khan Cheema, who serves as Pakistan’s governor to the World Bank, was formally announced as the incoming chair.
The appointment represents a significant development in Pakistan’s engagement with international financial institutions. The Boards of Governors play an important role in the governance of the IMF and the World Bank Group, bringing together representatives of member countries to oversee key institutional matters.
Pakistan’s selection comes as the country continues to work with the IMF under two financial arrangements. These include a $7 billion Extended Fund Facility (EFF) and a $1.4 billion Resilience and Sustainability Facility (RSF).
The Extended Fund Facility supports countries facing longer-term balance of payments challenges through financial assistance linked to an agreed economic programme. The Resilience and Sustainability Facility is designed to help eligible countries address longer-term structural challenges, including those associated with climate resilience and economic sustainability.
The announcement in Bangkok places Pakistan in an upcoming leadership role within the governance structures of both institutions at a time when the country remains engaged in international financial cooperation.
Cheema’s appointment as incoming chair was formally announced at the annual meetings, although the announcement itself does not change the terms of Pakistan’s existing financial arrangements with the IMF.
Pakistan’s role in 2027 will provide an opportunity to participate in discussions involving the two major international financial institutions and their member countries. Further details about the chair’s programme and priorities were not provided in the brief.
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