Pakistan Takes Over G-24 Chairmanship (November 2026): Explained for Exams

What happened?

On 1 November 2026, Pakistan took over the chairmanship of the Intergovernmental Group of Twenty-Four (G-24). Pakistan succeeds Nigeria, which had itself taken over from Argentina in November 2025. Finance Minister Muhammad Aurangzeb represents Pakistan as chair. He said the chair would follow the group's principles of consultation, consensus and collective advocacy, and that success would be judged by tangible outcomes.

Prime Minister Shehbaz Sharif described the role as an influential platform for pushing reforms of the global financial system and for fair climate financing. President Asif Ali Zardari said it was an opportunity for effective representation of developing countries.

What is the G-24?

The G-24 is a group of developing countries that coordinates their positions on international monetary and development-finance issues, especially in dealings with the IMF and the World Bank.

Point	Fact
Full name	Intergovernmental Group of Twenty-Four on International Monetary Affairs and Development
Set up	1971, as a body linked to the Group of 77 (G-77)
Purpose	Common position of developing countries on global monetary and financial questions
Secretariat	Washington, D.C.
Chair	Rotates; Pakistan from 1 November 2026

Note on membership: the name says 24, but sources give slightly different numbers of full members today. For an exam, remember the name "G-24" and its purpose rather than a member count.

Why does it matter for Pakistan?

• It gives Pakistan a platform to speak for developing economies on debt, development finance and climate finance.
• The IMF and World Bank are central to Pakistan's own economy. See our article IMF Programme Explained: Pakistan's October 2026 Staff-Level Agreement for the domestic side.
• Press reports note that the chair is a diplomatic achievement, but it does not give Pakistan direct control over IMF or World Bank decisions.

Background: IMF and World Bank

Both institutions came out of the Bretton Woods Conference of 1944. The IMF mainly deals with exchange-rate stability and balance-of-payments support; the World Bank mainly finances long-term development projects. Developing countries often feel their voice in these institutions is limited, which is the reason groups like the G-24 exist.

Other recent Pakistan news useful for exams

• On 3 November 2026 the military announced the first flight test of Fa'az, Pakistan's first indigenously developed air-to-air missile, launched from a JF-17 Thunder aircraft (ISPR; reported by Dawn, The Express Tribune and Arab News). A single test does not by itself mean the missile has entered production.
• The UN climate conference COP31 is scheduled for 9-20 November 2026 in Antalya, Türkiye, with Turkish minister Murat Kurum as president.

Quick revision points

1. Pakistan became G-24 chair on 1 November 2026.
2. The previous chair was Nigeria (before it, Argentina).
3. Pakistan's chair-holder is Finance Minister Muhammad Aurangzeb.
4. G-24 was set up in 1971; its secretariat is in Washington, D.C.
5. It speaks for developing countries on IMF and World Bank issues.

Practice

Try the Current Affairs MCQs, test yourself with the Daily Quiz, and revise related facts in General Knowledge MCQs.

Sources: The Express Tribune, Gulf News, Arab News Pakistan, Radio Pakistan (G-24 chairmanship); Dawn, The Express Tribune, Arab News, ISPR (Fa'az); UNFCCC and Austrian climate ministry (COP31); G-24 official website (history and mandate).