ISLAMABAD: Pakistan has assumed the chairmanship of Intergovernmental Group of Twenty-Four (G-24), pledging to amplify the voice of developing economies and push for reforms to international financial system, the finance ministry said on Sunday.
In a post on X, Finance Minister Muhammad Aurangzeb said Pakistan’s chairmanship carried the responsibility of promoting international cooperation, strengthening multilateral institutions and addressing challenges such as climate shocks, development financing gaps and global economic fragmentation.
“The future of developing economies is not peripheral to the future of the global economy. It is central to it,” he said, highlighting the potential of emerging and developing countries to drive investment, innovation, entrepreneurship and global growth.
Outlining Pakistan’s priorities for its tenure, Aurangzeb said the country would focus on placing development at the centre of global economic policymaking, strengthening the representation of developing economies in multilateral institutions and advancing reforms to the international financial architecture.
He said macroeconomic stability must serve as a foundation for investment, productivity, employment and shared prosperity, enabling developing and low-income countries to move beyond crisis management towards sustainable growth.
Pakistan would also advocate more inclusive and representative multilateral institutions, with fairer governance, meaningful participation in decision-making and greater responsiveness from the Bretton Woods institutions to the evolving needs of member countries, he added.
The third priority would be to advance a development-oriented international financial architecture through affordable and timely financing, sustainable debt solutions, stronger global financial safety nets, climate resilience and greater mobilisation of public and private capital.
“Our task is to ensure that the immense potential of developing economies is not constrained by an international financial architecture that has yet to fully adapt to a changing world,” the minister said.
Drawing on Pakistan’s experience of economic stabilisation, reform and resilience, he said financial stability must be aligned with long-term development objectives.
Countries undertaking reforms should have access to adequate financing and the policy space required to achieve sustainable growth, he added.
He said Pakistan would pursue the G-24’s longstanding principles of consultation, consensus and collective advocacy, working with member countries across Africa, Asia, Latin America and the Caribbean, as well as the International Monetary Fund, World Bank and other international partners.
Acknowledging Nigeria’s leadership as the outgoing chair, Aurangzeb said Pakistan would build on the group’s progress.
“The true measure of our collective leadership will not simply be the strength of our voice, but the difference that voice makes,” he said.
Pakistan was committed to moving the G-24’s mission “from collective voice to collective influence, and from collective influence to meaningful progress”, he added.
Meanwhile, Prime Minister Shehbaz Sharif welcomed Pakistan’s assumption of the G-24 chairmanship, describing it as a significant diplomatic milestone and recognition of the country’s role in global economic affairs.
In a post on X, the prime minister said the appointment would strengthen Pakistan’s voice in international economic discussions and provide a platform to advocate reforms to the global financial architecture, equitable financial support to address climate change and sustainable growth opportunities for emerging economies.
He congratulated Finance Minister Aurangzeb and the Finance Ministry team on their efforts, diplomatic engagement and professional capabilities in securing the chairmanship.
He also praised the finance minister’s role during the recent annual meetings of the IMF and World Bank, saying his efforts had helped secure a prominent position for Pakistan in the economic leadership of developing nations.
Copyright Business Recorder, 2026
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