- Pakistan to assume chairmanship for first time since 1953.
- Cheema holds meetings with World Bank officials and outgoing chair.
- Pakistan pledges to promote effective development financing.
Federal Minister for Economic Affairs Ahad Khan Cheema has been formally announced as the incoming Chair of the Boards of Governors of the World Bank Group (WBG) and the International Monetary Fund (IMF) for 2027, according to a statement issued by the Ministry of Economic Affairs on Friday.
The announcement was made during the plenary session of the 2026 WBG-IMF Annual Meetings in Bangkok, marking Pakistan’s return to the chairmanship for the first time since 1953.
According to the statement, the forthcoming chairmanship will provide Pakistan an opportunity to contribute to global economic and development deliberations and facilitate constructive dialogue among member countries.
Following the plenary session, Cheema, who is also Pakistan’s governor to the WBG, received a briefing from the WBG Corporate Secretariat on the responsibilities of the chairmanship.
He also met Aradhana Kumar-Capoor, vice president and corporate secretary of the WBG, to discuss institutional support and coordination during Pakistan’s term.
Cheema subsequently met Carlos Carvallo Spalding, governor of the Central Bank of Paraguay and outgoing chair of the Boards of Governors. He congratulated Spalding on the successful completion of his tenure and commended his stewardship of the chairmanship.
The two exchanged views on the responsibilities of the office and priorities for the year ahead, providing an opportunity to benefit from the outgoing chair’s experience and insights, the statement said.
During the meetings, Cheema highlighted Pakistan’s commitment to strengthening the voice of developing countries, promoting effective and predictable development financing, enhancing coordination among multilateral development institutions and mobilising private capital to support sustainable and inclusive growth.
He reaffirmed Pakistan’s resolve to work closely with the WBG, IMF and member countries to foster constructive dialogue and contribute to a more responsive multilateral development and financial system.
