Pakistan was named the incoming chair of the Boards of Governors of the International Monetary Fund (IMF) and the World Bank Group (WBG) for 2027, returning to the position for the first time since 1953, the country’s Ministry of Economic Affairs said on Friday (October 16, 2026).
Pakistan is borrowing under the EFF to address its balance-of-payments needs and support economic reforms, while the RSF provides longer-term financing to help the country address climate-related risks and strengthen its resilience. Minister for Economic Affairs Ahad Khan Cheema, who is also Pakistan’s Governor to the World Bank, was formally announced as the incoming chair during the plenary session of the 2026 WBG-IMF Annual Meetings in Bangkok. The IMF-WBG annual meetings, being held from October 12 to 18, have brought together more than 15,000 participants from 191 countries. Pakistan is engaged with the IMF under a $7 billion Extended Fund Facility (EFF) and a $1.4 billion Resilience and Sustainability Facility (RSF). Pakistan is also expected to receive about $1.2 billion from the IMF, subject to approval by its Executive Board, after IMF staff and Pakistani authorities reached an agreement on the latest reviews of the two loan programmes.
The Ministry termed the development a “historic milestone” and said the chairmanship would provide Islamabad an opportunity to contribute to global economic and development discussions and facilitate constructive dialogue among member countries.
