Pakistan assumed the chairmanship of the Intergovernmental Group of Twenty-Four (G-24) on Sunday, November 1, succeeding Nigeria as head of the coalition of developing economies.
Finance Minister Muhammad Aurangzeb described the role as a “profound responsibility”, saying Pakistan would work to strengthen the collective voice of developing economies and advance a more responsive, fair and development-oriented international financial system.
He set out three priorities for the chairmanship: placing development at the centre of global economic policymaking, strengthening the representation of developing economies in multilateral institutions, and reforming the international financial architecture. In the Finance Ministry’s statement, he also called for renewed international cooperation, stronger multilateral institutions and reinforced commitments on climate shocks, development financing gaps and global economic fragmentation.
The G-24, established in 1971, coordinates the positions of developing countries on international monetary and financial issues, particularly in their dealings with the International Monetary Fund and the World Bank. Aurangzeb acknowledged Nigeria’s leadership as outgoing chair and pledged to build on the group’s progress, working with members across Africa, Asia, Latin America and the Caribbean alongside the IMF, World Bank and other international partners.
Prime Minister Shehbaz Sharif welcomed the chairmanship on Sunday, calling it an influential platform for pressing reforms to the global financial system and congratulating Aurangzeb and the Finance Ministry team. The chairmanship itself carries no financing package or rule change: it is an advocacy and coalition-building role, and its test will be what Pakistan can carry into the group’s ministerial meetings over the year ahead.
Sources: Dawn, 2 November 2026 (https://www.dawn.com/news/2041544); The Express Tribune, 1 November 2026 (https://tribune.com.pk/story/2638064/pakistan-assumes-g-24-chairmanship-pledges-push-for-global-financial-reforms?amp=1); UrduPoint / APP, 1 November 2026 (https://www.urdupoint.com/en/business/pakistan-assumes-g-24-chairmanship-calls-for-2281198.html); The Express Tribune, 2 November 2026 (https://tribune.com.pk/story/2638171/pm-backs-push-for-fairer-global-finance?amp=1).
