The decision came during the 2026 WBG‑IMF annual meetings in Bangkok, where 15,000 delegates from 191 nations convened. Cheema, already Pakistan’s governor to the World Bank, will take over the chairmanship, a role the country has not held since 1953. Pakistan is currently drawing on a $7 billion Extended Fund Facility and a $1.4 billion Resilience and Sustainability Facility, both designed to shore up the balance of payments and address climate risks. An additional $1.2 billion may be released once the IMF’s Executive Board approves the latest reviews of these programmes. The ministry described the appointment as a ‘historic milestone’ that will let Pakistan shape global economic policy and foster constructive engagement among members. The Executive Board will vote on the disbursement in the coming weeks, after which Cheema’s tenure is expected to coincide with the launch of a new climate‑adaptation initiative.