Islamabad: Pakistan today assumed the Chairmanship of the Intergovernmental Group of Twenty-Four (G-24), emphasizing its commitment to fostering a fair international financial system oriented towards development. The G-24, established in 1971, comprises developing nations aiming to coordinate their positions on international monetary and financial matters.

According to Radio Pakistan, Finance Minister Muhammad Aurangzeb expressed Pakistan’s dedication to amplifying the voice of developing economies. Assuming the Chairmanship, he described the role as a significant responsibility, advocating for increased international cooperation and stronger multilateral institutions to tackle climate challenges, financing gaps, and global economic fragmentation.

Minister Aurangzeb outlined Pakistan’s strategic agenda, focusing on development-led growth, enhancing representation for developing nations, and reforming the international financial architecture. He emphasized that Pakistan’s leadership would adhere to the G-24’s principles of consultation, consensus, and collective advocacy, collaborating with members from Africa, Asia, Latin America, and the Caribbean, as well as the IMF and World Bank.

The Finance Minister concluded by affirming the need for collective leadership to be measured by tangible development outcomes.