Federal Minister for Economic Affairs Ahad Khan Cheema, who also serves as Pakistan’s governor to the World Bank, has been formally announced as the incoming chair during the plenary session of the 2026 World Bank Group-International Monetary Fund (WBG-IMF) Annual Meetings in Bangkok, according to a statement issued by the ministry.
The annual meetings, scheduled from October 12 to 18, have brought together more than 15,000 participants from 191 countries, including central bank governors, economic policymakers and business leaders, to discuss developments and challenges facing the global economy.
The ministry described Pakistan’s appointment as a “historic milestone”, marking the country’s return to the chairmanship for the first time since 1953. It said the position would provide Pakistan with an opportunity to contribute to international economic and development discussions while facilitating constructive dialogue among member countries.
Following the plenary session, Cheema received a briefing from the World Bank Group’s Corporate Secretariat on the responsibilities associated with the chairmanship. He also met WBG Vice President and Corporate Secretary Aradhana Kumar-Capoor to discuss institutional support and coordination during Pakistan’s tenure.
Cheema subsequently met Carlos Carvallo Spalding, governor of Paraguay’s central bank and the outgoing chair of the Boards of Governors. He congratulated Spalding on completing his term and commended his stewardship. The two also exchanged views on the responsibilities of the position and priorities for the coming year.
During the engagements, Cheema emphasised Pakistan’s commitment to strengthening the representation of developing countries, promoting effective and predictable development financing, improving coordination among multilateral development institutions, and mobilising private capital to support sustainable and inclusive growth.
He reaffirmed Pakistan’s commitment to working closely with the World Bank Group, the IMF and member countries to promote constructive dialogue and contribute to a more responsive multilateral development and financial system, the ministry said.
Separately, Finance Minister Muhammad Aurangzeb met World Bank Group President Ajay Banga at a dinner hosted by the Thai prime minister on the sidelines of the 2026 WBG-IMF Annual Meetings in Bangkok, according to state-run Pakistan Television.
The dinner provided an opportunity for informal interaction alongside the high-level engagements taking place during the annual meetings.
Aurangzeb is leading Pakistan’s delegation to the meetings and holding discussions with representatives of international financial institutions, finance ministers, policymakers and investors.
Pakistan remains engaged with the IMF under a $7 billion Extended Fund Facility (EFF) programme and a $1.4 billion Resilience and Sustainability Facility (RSF).
Earlier this month, Pakistan and the IMF reached a staff-level agreement following the fourth review of the EFF programme and the third review of the RSF. The agreement qualified Pakistan to draw approximately $1.2 billion from the Fund’s resources.
