Pakistan assumed the chairmanship of the Intergovernmental Group of Twenty-Four (G-24) on Sunday, November 1, 2026, taking over the leadership of the grouping of developing economies from Nigeria, with Finance Minister Muhammad Aurangzeb setting out a development-focused agenda for the tenure.
What happened?
Pakistan took over as chair of the G-24, a group of developing countries that coordinates their positions on monetary and development finance at the International Monetary Fund and the World Bank. Finance Minister Muhammad Aurangzeb, who will lead the group, described the chairmanship as a profound responsibility and said Pakistan would work to strengthen the collective voice of developing economies in the global financial system. Prime Minister Shehbaz Sharif welcomed the development, calling it an important diplomatic milestone that reflects Pakistan’s growing role in global economic affairs.
Key details
- Pakistan takes over the G-24 chairmanship from Nigeria, the outgoing chair.
- The G-24 was established in 1971 to coordinate developing nations’ positions on monetary and development finance at the IMF and World Bank.
- Aurangzeb outlined three strategic priorities: placing development at the centre of global economic policymaking; strengthening the representation of developing economies in international financial institutions; and advancing a development-oriented international financial architecture.
- The agenda includes affordable and timely development financing, sustainable debt solutions, stronger global financial safety nets, climate resilience, and greater mobilisation of public and private capital.
- Pakistan will work with G-24 members across Africa, Asia, Latin America and the Caribbean, alongside the IMF, World Bank and other international partners.
What it means for people in Pakistan
The chairmanship gives Pakistan a louder voice in debates that shape the rules of global finance — from how affordable development funding is to how debt problems are handled. If Pakistan’s push for fairer representation and better financing succeeds, it could help unlock more support for the kinds of projects that matter at home: jobs, infrastructure, climate resilience and growth that reaches ordinary households.
