Finance Minister Muhammad Aurangzeb pledges to promote development-led growth, strengthen the representation of developing economies and reform the international financial system.
Pakistan has assumed the Chairmanship of the Intergovernmental Group of Twenty-Four (G-24), pledging to strengthen the collective voice of developing economies and promote a fairer, more inclusive international financial system.
Federal Minister for Finance and Revenue Senator Muhammad Aurangzeb described the responsibility as an opportunity to advance international cooperation, strengthen multilateral institutions and address challenges including climate shocks, development financing gaps and global economic fragmentation.
Highlighting the growing importance of developing nations, Aurangzeb said their future was central to the global economy, given their potential to drive investment, innovation, entrepreneurship and economic growth.
Outlining Pakistan’s agenda, the Finance Minister identified three strategic priorities for its G-24 Chairmanship.
First, development-led economic growth will remain at the centre of global policymaking. Pakistan will advocate for macroeconomic stability that supports investment, productivity, employment and shared prosperity, enabling developing economies to move beyond crisis management towards sustainable growth.
Second, stronger representation of developing economies in multilateral institutions will be pursued. Pakistan will push for fairer governance, meaningful participation in international decision-making and greater responsiveness from the Bretton Woods institutions to the changing needs of member countries.
Third, reforming the international financial architecture will be a major focus. This includes affordable and timely development financing, sustainable debt solutions, stronger global financial safety nets, climate resilience and increased mobilisation of public and private capital.
Aurangzeb stressed that the international financial system must adapt to the changing global economic landscape and ensure developing countries have sufficient financing and policy space to achieve sustainable growth.
Drawing on Pakistan’s experience of economic stabilisation, reforms and resilience, he emphasised the need to align financial stability with long-term development objectives.
He also reaffirmed that Pakistan’s Chairmanship would follow the G-24’s principles of consultation, consensus and collective advocacy, working with members across Africa, Asia, Latin America and the Caribbean.
Pakistan will also engage with the International Monetary Fund (IMF), World Bank and other international partners to translate shared priorities into practical outcomes.
Aurangzeb acknowledged Nigeria’s leadership as the outgoing Chair and pledged to build on the group’s progress.
He said the success of collective leadership should be measured not merely by the strength of developing countries’ voice but by the tangible difference it makes to their economic and development prospects.
Pakistan aims to transform the G-24’s collective voice into greater influence and meaningful progress.