According to a report by Dawn, Pakistan has been selected as the incoming chair of the Boards of Governors for both the International Monetary Fund (IMF) and the World Bank Group (WBG) for the upcoming year. The Ministry of Economic Affairs stated that Federal Minister for Economic Affairs Ahad Khan Cheema, who serves as Pakistan's governor to the World Bank, was formally named during a plenary session at the 2026 WBG-IMF Annual Meetings in Bangkok.
What happened
Following the announcement, Cheema received a briefing from the WBG Corporate Secretariat regarding the operational responsibilities of the chairmanship. He held talks with WBG Vice President Aradhana Kumar-Capoor regarding coordination during Pakistan's tenure, and met with the outgoing board chair, Paraguay central bank governor Carlos Carvallo Spalding. Meanwhile, Pakistani Finance Minister Muhammad Aurangzeb, who is leading the national delegation in Bangkok, met with WBG President Ajay Banga at an informal dinner hosted by the prime minister of Thailand.
Key facts
- This selection marks the first time Pakistan will assume the chairmanship of the IMF and World Bank boards since 1953.
- The exact calendar start date for the term was not specified in the source; please check the official notice.
- The annual meetings in Bangkok run from October 12 to 18, bringing together more than 15,000 policymakers, central bank leaders, and executives from 191 countries.
- Pakistan is currently operating under a $7 billion Extended Fund Facility and a $1.4 billion Resilience and Sustainability Facility with the IMF.
- Recent review agreements under these programs have made approximately $1.2 billion available for draw from IMF funds.
Why it matters
The Ministry of Economic Affairs described the decision as a historic milestone that enables Pakistan to contribute directly to international economic discussions. According to statement details reported by Dawn, Cheema emphasized Pakistan's commitment to amplifying the voice of developing nations, securing predictable development financing, improving collaboration among multilateral financial organizations, and drawing in private capital for sustainable growth.
Source: Dawn - Home · Published October 16, 2026 · Photo by Annie Spratt on Unsplash