Pakistan sets G-24 agenda around global financial reforms

November 05, 2026 (MLN): Federal Minister for Finance and Revenue Senator Muhammad Aurangzeb has outlined Pakistan’s priorities for its chairmanship of the Intergovernmental Group of Twenty-Four (G-24), with a focus on strengthening the collective voice of developing economies and advancing reforms in the global financial system.

The Finance Minister shared his vision during a virtual briefing by Dr. Iyabo Masha, Director of the G-24 Secretariat, on the responsibilities and upcoming work programme following Pakistan’s assumption of the Group’s chairmanship on November 1, 2026. Saif Ullah Dogar, Senior Advisor to the Executive Director at the International Monetary Fund (IMF), also attended the briefing.

During the session, Dr. Masha provided an overview of the G-24's institutional structure, ongoing research and policy initiatives, and its engagement with international financial institutions and multilateral forums.

She also discussed the Group’s upcoming engagements, including the G-24 Technical Group Meeting scheduled to be hosted by Pakistan in February 2027, alongside ministerial meetings held during the IMF-World Bank Spring and Annual Meetings.

Muhammad Aurangzeb emphasized that Pakistan’s chairmanship would focus on policy coordination, consensus-building and meaningful engagement among member countries to advance the shared interests of emerging markets and developing economies.

He highlighted the need to strengthen the G-24's influence in international economic discussions, particularly regarding reforms to the international monetary and financial system, affordable development financing and measures to improve economic resilience in developing countries.

The Finance Minister stressed that developing economies must have a stronger voice in the decision-making processes of international financial institutions, ensuring their economic challenges and development priorities receive adequate consideration.

He also identified Pakistan’s chairmanship as an opportunity to bring greater alignment among Global South countries and promote practical policy proposals aimed at building a more inclusive and responsive international financial architecture.

Addressing the challenges facing developing economies, including geopolitical uncertainty, geoeconomic fragmentation and persistent financing gaps, Aurangzeb called for stronger multilateral cooperation, improved access to development financing, increased economic resilience and greater opportunities for trade and investment.

He reaffirmed Pakistan’s commitment to an inclusive and results-oriented chairmanship, with sustained consultations among member countries to establish common priorities and translate them into actionable policy recommendations.

The Finance Minister also stressed the importance of timely preparations for the February 2027 Technical Group Meeting, highlighting the need for broad participation and substantive policy discussions to establish a strong foundation for subsequent ministerial engagements.

He emphasized continued coordination with the G-24 Secretariat and member countries to build consensus, strengthen the Group’s collective representation and advance the development priorities of emerging markets and developing economies.

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