Pakistan assumed the chairmanship of the Intergovernmental Group of Twenty-Four (G-24) on Sunday, November 1, 2026, putting its finance minister at the center of the group’s efforts to press for changes to global economic governance. Finance Minister Muhammad Aurangzeb said Pakistan would use the role to advocate development-led growth, a stronger voice for developing economies and reform of the international financial architecture.
The Ministry of Finance announced the change in a statement posted on X. It said Pakistan would work to strengthen the “collective voice of developing economies” and advance what it described as a “fair, responsive and development-oriented international financial system.” The agenda places the chairmanship against a backdrop of concerns about climate shocks, financing shortfalls for development and increasing economic fragmentation.
“The future of developing economies is not peripheral to the future of the global economy. It is central to it,” Muhammad Aurangzeb said.
Aurangzeb called the chairmanship a “profound responsibility” and said it would require greater cooperation and stronger multilateral institutions. He also said emerging and developing economies could contribute to investment, innovation, entrepreneurship and global growth, according to the Ministry of Finance statement.
Three priorities for the chairmanship
The finance minister identified a first priority of placing development at the center of economic policymaking. In his description, macroeconomic stability should support longer-term economic activity rather than remain an end in itself. He linked that stability to investment, productivity, employment and shared prosperity.
- Development-led growth: put development at the center of economic policymaking.
- Representation: strengthen the role of developing economies in international economic discussions.
- Financial reform: pursue changes to the international financial architecture and stronger multilateral cooperation.
| Priority | Focus described by Pakistan |
|---|---|
| Growth | Investment, productivity, employment and shared prosperity |
| Global representation | A stronger collective voice for developing economies |
| International finance | A fair, responsive and development-oriented system |
Pakistan’s finance ministry said the approach was intended to help developing and low-income economies move beyond crisis management and toward sustainable growth. Aurangzeb connected that objective with the need to address development-financing gaps and the economic effects of climate shocks, while also calling for commitments that reflect the circumstances of developing countries.
The chairmanship also gives Pakistan a platform to argue for changes in the institutions and rules that shape access to development finance. The ministry said the country would seek stronger multilateral institutions and greater cooperation. Those goals, as outlined in the announcement, combine domestic priorities such as employment and productivity with broader demands for a more representative international financial system.
Aurangzeb previously addressed a G-24 ministerial session as first vice chair in Bangkok, Thailand, on October 12, 2026, according to the Ministry of Finance. Pakistan’s formal assumption of the chairmanship now establishes the priorities it says will guide its work: development-led growth, greater representation for developing economies and reform of the global financial architecture.
