Pakistan Assumes G‑24 Chairmanship, Pledges to Amplify Developing Nations’ Voices

KARACHI: Pakistan has taken over the chairmanship of the Intergovernmental Group of Twenty‑Four (G‑24) countries, the Finance Division announced on Sunday, pledging to use the platform to strengthen the voice of developing economies worldwide.

The G‑24 is an intergovernmental organization that coordinates the stance of developing countries on monetary and development issues and ensures they are represented, especially at the International Monetary Fund (IMF) and the World Bank.

Current members include 28 nations, such as Algeria, Argentina, Brazil, Egypt, India, Iran, Lebanon, Pakistan, South Africa, Sri Lanka, Syria, and others. China also attends G‑24 sessions as a special invitee.

“Pakistan today assumed the chairmanship of the Intergovernmental Group of Twenty‑Four (G‑24), reaffirming its commitment to strengthening the collective voice of developing economies and advancing a more responsive, fair and development‑oriented international financial system,” the Finance Division said.

Finance Minister Muhammad Aurangzeb described the G‑24 chairmanship as a profound responsibility, calling for renewed international cooperation, stronger multilateral institutions, and reinforced global commitments to tackle 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,” Aurangzeb said.

He highlighted the potential of emerging and developing nations as drivers of investment, innovation, entrepreneurship, and global growth.

The minister outlined three priorities for Pakistan as chair. First, he said Pakistan would place development at the centre of global economic policymaking.

Second, Islamabad would strengthen multilateral frameworks for the collective benefit of members through more inclusive and representative institutions.

“Pakistan will advocate for more equitable and fair governance, meaningful participation in decision‑making, and greater responsiveness of the Bretton Woods institutions to the evolving needs and realities of their members,” he added.

Third, he said Islamabad would promote a development‑oriented international financial architecture, prioritising affordable and timely development financing, sustainable debt solutions, stronger global financial safety nets, and climate resilience.

“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,” Aurangzeb said.

The development comes as Pakistan seeks to consolidate its economic standing worldwide with the help of a $7 billion loan programme from the International Monetary Fund and eyes greater trade and investment ties with regional countries.

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