Pakistan owes billions of dollars to the International Monetary Fund or IMF. But this country is the chairman of the board of the IMF-World Bank. They will handle the duties of president of IMF and WBG for 2027. They got this responsibility after 73 long years.
Pakistan's Finance Minister Ahad Cheema Khan has been announced as the next chairman at the 2026 IMF-World Bank Annual Conference in Bangkok. The neighboring country is calling this decision a 'historic milestone'. However, it is important to note that Pakistan becoming the Chairman of the Board does not mean that Pakistan will get control of the IMF or World Bank lending policy positions. There will be opportunities to lead only in various developmental activities. As a result, they will not be able to get any bigger benefit from it.
It should be noted that Pakistan's economy broke a long time ago. Shahbaz's country has been surviving on IMF loans for the past few years. Continuing that trend, Islamabad repeatedly went to the IMF with a begging bag. Went last December too. However, a clear argument was given by India that this loan should not be given to Pakistan, a sponsor of terrorism.
It is alleged that Pakistan has taken loans several times in the past. But they did not use that money for the right purpose. Expressing fear of direct financing of terrorism, India said that this loan should not be given as this money could be misused by Pakistan for cross-border terrorism. Pakistan has in the past also violated the conditions that should be followed after taking a loan. As a result, there is a possibility of misuse of this money. Despite India's objections, the vote was in Pakistan's favor on the loan. This time the neighboring countries also sat at the head of the IMF.