Pakistan, Oct. 17 -- Pakistan has been selected to chair the Boards of Governors of the International Monetary Fund (IMF) and World Bank Group in 2027. The appointment marks the country's return to the position after 74 years. Economic Affairs Minister Ahad Khan Cheema was announced as the incoming chair during the annual meetings in Bangkok on October 16. Pakistan last held the position in 1953.

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The chairmanship primarily involves procedural and diplomatic responsibilities rather than direct control over financial decisions. The chair helps organise meetings, establishes the order of speakers and may communicate proceedings to the media. The role also offers opp...