Pakistan has been named the incoming chair of the Boards of Governors of the International Monetary Fund and the World Bank Group for 2027. It will be the country’s first time in the role since 1953, a gap of 74 years. The Ministry of Economic Affairs announced the appointment on Friday, October 16, after the plenary session of the 2026 IMF and World Bank Annual Meetings in Bangkok.
Federal Minister for Economic Affairs Ahad Khan Cheema, who is also Pakistan’s governor to the World Bank Group, was formally announced as the incoming chair. He succeeds Carlos Carvallo Spalding, governor of Paraguay’s central bank, and met him in Bangkok to discuss the responsibilities of the office.
Cheema said Pakistan will push for predictable development financing, closer coordination among multilateral development institutions, more private capital and a stronger voice for developing countries. The ministry called the appointment a historic milestone.
The announcement follows a staff level agreement between Pakistan and the IMF on the fourth review of the $7 billion Extended Fund Facility and the third review of the $1.4 billion Resilience and Sustainability Facility.
Once the IMF Executive Board approves it, Pakistan can draw about $1.2 billion, about $1 billion under the EFF and about $210 million under the RSF. Total disbursements under the two programmes would then reach about $5.7 billion.
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