Pakistan Takes G-24 Chair, Pushes Global Finance Reforms

Pakistan assumed the chairmanship of the Intergovernmental Group of Twenty-Four on Sunday, gaining a prominent platform to represent the financial and development priorities of emerging and developing economies. Finance Minister Muhammad Aurangzeb said the country would use its tenure to advocate for a more inclusive, responsive and development-focused international financial system.

The G-24 was established in 1971 to help developing countries coordinate their positions on international monetary, financial and development issues. Its members span Africa, Asia, Latin America and the Caribbean, while the group regularly engages with institutions including the International Monetary Fund and the World Bank.

Aurangzeb outlined three central priorities for Pakistan’s chairmanship: restoring development as a core objective of global economic policymaking, improving the representation of developing economies in multilateral institutions and advancing reforms to the international financial architecture. The agenda will also cover sustainable debt solutions, climate resilience and stronger financial safety nets.

The finance minister said macroeconomic stability should support investment, productivity, employment and broadly shared prosperity rather than becoming an end in itself. He argued that developing and low-income economies need sufficient financing and policy space to move beyond repeated crisis management and pursue sustainable long-term growth.

Pakistan also intends to press for more equitable participation in decision-making at the Bretton Woods institutions. The government maintains that the governance and financing mechanisms of major international institutions must respond more effectively to climate shocks, widening development gaps, restrictive financial conditions and fragmentation in the global economy.

Affordable and timely development financing will be another major element of the country’s programme. Islamabad plans to promote the mobilisation of both public and private capital while seeking stronger international support for countries undertaking difficult economic reforms or facing external shocks beyond their control.

Prime Minister Shehbaz Sharif welcomed the chairmanship as a significant diplomatic milestone. He said the position could strengthen Pakistan’s voice in global economic discussions and create opportunities to advocate for international financial reforms, fair climate financing and sustainable development across emerging economies.

The prime minister also praised Aurangzeb and the Ministry of Finance team for their work during the annual meetings of the IMF and World Bank. Pakistan succeeds Nigeria as chair and has pledged to build on the outgoing leadership’s work through consultation, consensus and collective advocacy among participating countries.

The chairmanship raises Pakistan’s diplomatic visibility but does not automatically provide new financing or preferential access to international funds. Its practical value will depend on whether Islamabad can build agreement among members and translate shared demands into credible proposals capable of influencing global financial institutions.

Pakistan will now work with G-24 members and international partners to develop positions ahead of major multilateral meetings. Progress will ultimately be measured by concrete outcomes, including improved financing access, stronger representation for developing nations and reforms that help vulnerable economies withstand debt, climate and development pressures.