Pakistan has been named the incoming chair of the Board of Governors of the International Monetary Fund and the World Bank Group for 2027. The country is returning to the position for the first time since 1953, its Ministry of Economic Affairs said on Friday.
Pakistan’s Federal Minister for Economic Affairs Ahad Khan Cheema, who is also the country’s governor to the World Bank, was announced as the chair during the plenary session of the 2026 WBG-IMF Annual Meetings in Bangkok, Thailand.
The ministry said that the country's appointment was a historic milestone and that the chairmanship would provide Islamabad with the opportunity to contribute to the global economic development.
Following the plenary session, Cheema received a briefing from the WBG Corporate Secretariat on the responsibilities of the chairmanship. He also met Aradhana Kumar-Capoor, the institution's vice president and corporate secretary, to discuss coordination during Pakistan's tenure.
Cheema also met Carlos Carvallo Spalding, governor of Paraguay’s central bank and the outgoing chair of the Boards of Governors, according to the statement.
Pakistan is engaged with the IMF under a USD 7 billion Extended Fund Facility (EFF) and a USD 1.4 billion Resilience and Sustainability Facility (RSF). The EEF suports the country’s fiscal position and helps rebuild its foreign exchange reserves and undertake structural reforms. The RSF, approved in May 2025, focuses on climate resilience and disaster preparedness.
The IMF reached a staff-level agreement with Pakistan on the fourth review of the facilities on October 7.
The agreement could unlock about $1.21 billion in additional financing, including $1 billion under the EFF and $210 million under the RSF, after approval by the IMF's Executive Board.
The 2027 annual IMF-World Bank meeting is scheduled to take place in Washington from October 4 to 9. The 2026 meetings are being held in Bangkok from October 12 to 18.
