Pakistan on Sunday assumed the chairmanship of the Intergovernmental Group of Twenty-Four (G-24), the forum that coordinates the positions of developing countries at the International Monetary Fund and the World Bank. The Ministry of Finance said Pakistan would work to strengthen the "collective voice of developing economies" and advance a fair, development-oriented international financial system.
Pakistan previously served as the group's First Vice-Chair, and Finance Minister Muhammad Aurangzeb addressed the G-24 ministers' meeting in Bangkok on October 12 in that role.
Aurangzeb called the chairmanship a "profound responsibility" and said climate shocks, gaps in development financing and economic fragmentation demanded deeper cooperation and stronger multilateral institutions. "The future of developing economies is not peripheral to the future of the global economy. It is central to it," he said.
He set out three priorities for Pakistan's term: development-led growth, stronger representation for developing economies in global financial institutions, and reform of the international financial architecture. Macroeconomic stability, he said, must serve as a foundation for investment, productivity and jobs.
Prime Minister Shehbaz Sharif welcomed the appointment, describing it as a diplomatic milestone that would raise Pakistan's voice in global economic affairs.