Pakistan to Chair IMF, World Bank Boards in 2027

Pakistan has been designated as the incoming chair of the Boards of Governors for both the International Monetary Fund (IMF) and the World Bank Group (WBG) for the year 2027, marking its return to this significant international position for the first time since 1953. This announcement was formally made by the country’s Ministry of Economic Affairs on Friday, October 16, 2026. Minister for Economic Affairs Ahad Khan Cheema, who also serves as Pakistan’s governor to the World Bank, was officially declared the incoming chair during the plenary session of the 2026 WBG-IMF Annual Meetings, which took place in Bangkok.

The Ministry of Economic Affairs hailed this development as a "historic milestone," expressing that the chairmanship would offer Islamabad a crucial opportunity to contribute meaningfully to global economic and development discussions. Furthermore, it is expected to facilitate constructive dialogue among member countries on key financial and developmental issues. The 2026 IMF-WBG annual meetings, held from October 12 to 18, drew a substantial gathering of over 15,000 participants from 191 countries, highlighting the broad international scope of these financial bodies.

Concurrently, Pakistan is actively engaged with the IMF through a substantial $7 billion Extended Fund Facility (EFF) and a $1.4 billion Resilience and Sustainability Facility (RSF). The nation is also anticipated to receive approximately $1.2 billion from the IMF, contingent upon the approval of its Executive Board. This expected disbursement follows a recent agreement between IMF staff and Pakistani authorities concerning the latest reviews of the two ongoing loan programmes. IMF mission chief Iva Petrova confirmed that, subject to board approval, Pakistan would gain access to about $1.0 billion (SDR 760 million) under the EFF, which addresses balance-of-payments needs and supports economic reforms, and approximately $210 million (SDR 154 million) under the RSF, designed to provide longer-term financing for climate-related risks and to strengthen national resilience.

What to watch: How Pakistan leverages its 2027 chairmanship in global economic forums.

Editor's note: The article is comprehensive and accurately reflects the provided source material, including financial figures and context.