Pakistan assumed the chairmanship of the Intergovernmental Group of Twenty-Four (G-24) on Nov. 1, with Finance Minister Muhammad Aurangzeb pledging to seek affordable development finance and greater influence for developing economies in global decisions.
The Press Information Department said Pakistan’s agenda calls for development to have a central place in international policymaking, more representation for developing economies in multilateral institutions and changes to the international financial architecture. Aurangzeb also named affordable and timely development financing, sustainable debt solutions, stronger global financial safety nets, climate resilience and greater mobilization of public and private capital.
The government statement cited climate shocks, development-financing gaps and economic fragmentation as pressures on developing economies. Aurangzeb said, “The future of developing economies is not peripheral to the future of the global economy. It is central to it.”
The group helps its developing-country members coordinate on monetary and development policy in work with the World Bank and the International Monetary Fund (IMF).
Members reach decisions by consensus. The chair-country minister serves until the next annual ministerial meeting, a term of about a year. The chair country also helps organize meetings and holds press conferences with the vice-chairs.
At the G-24’s April 14, 2026, ministerial meeting in Washington, Nigeria’s Minister of Finance and Coordinating Minister of the Economy Olawale Edun chaired the meeting, while Aurangzeb served as first vice-chair. The group’s governance page on Nov. 1 still showed Nigeria’s Taiwo Oyedele as chair and Aurangzeb as first vice-chair; it does not say when that roster was last updated.
Pakistan’s announcement did not include a financing package, debt agreement or changes to IMF or World Bank rules. The G-24 holds two ministerial meetings a year ahead of the institutions’ spring and fall meetings, but its governance page gave no date for the next one.
