Pakistan to chair IMF-World Bank Boards in 2026 after 73-year gap

Pakistan has been named the incoming chair of the Boards of Governors of the International Monetary Fund and World Bank Group for 2026. The announcement was made by the Ministry of Economic Affairs on October 16 during the plenary session of the IMF-World Bank Annual Meetings in Bangkok. Federal Minister for Economic Affairs Ahad Khan Cheema, Pakistan’s governor to the World Bank, was formally confirmed as the incoming chair.

Cheema outlines priorities for developing world voice and financial coordination

After the plenary session, Ahad Khan Cheema received a briefing from the World Bank Group Corporate Secretariat on the chair's responsibilities. He discussed institutional support and coordination during Pakistan's chairmanship with World Bank Group Vice President and Corporate Secretary Aradhana Kumar-Kapoor.

Cheema also met with Paraguayan central bank chief Carlos Carvallo Spalding, who is concluding his term as chair. The two exchanged views on the responsibilities of the office and priorities for the coming year. Cheema congratulated Spalding on completing his tenure and commended his stewardship.

During the meetings, Cheema stated Pakistan's intention to strengthen the voice of developing countries. He highlighted a commitment to promoting effective and predictable development financing. The minister also emphasized enhancing coordination among multilateral development institutions and mobilising private capital for sustainable and inclusive growth. He reaffirmed Pakistan’s resolve to work closely with the WBG, IMF and member countries to foster constructive dialogue. The goal is to contribute to a more responsive multilateral development and financial system.

Historic return to leadership after seven decades

Pakistan’s appointment marks its first return to the chairmanship since 1953. The Ministry of Economic Affairs said the development was a “historic milestone”, noting that Pakistan would return to the chairmanship for the first time since 1953.

Broader engagement and scale of the annual meetings

The 2026 IMF-World Bank Annual Meetings in Bangkok brought together over 15,000 participants from 191 countries. Participants included central bank governors, economic policy officials, and business representatives. The meetings are scheduled to run from October 12 to 18.

Finance Minister Muhammad Aurangzeb is leading Pakistan’s delegation to Bangkok. He is holding high-level engagements with international financial institutions, finance ministers, policymakers and investors. Aurangzeb met World Bank Group President Ajay Banga at a dinner hosted by the Thai prime minister on the sidelines of the annual meetings. Pakistan TV said the occasion provided an opportunity for informal interaction alongside the high-level engagements at the annual meetings.

The role will provide Pakistan an opportunity to contribute to global economic and development discussions. Pakistan will assume the chairmanship of the IMF-World Bank Boards of Governors in 2026, using the platform to advance development financing and multilateral coordination.