Islamabad:Pakistan today took on the Chairmanship of the Intergovernmental Group of Twenty-Four (G-24), emphasizing its dedication to promoting a more equitable and development-oriented international financial system.

According to Radio Pakistan, the Intergovernmental Group of Twenty-Four is a coalition of developing nations formed in 1971 to unify their positions on international monetary and financial matters. The group currently comprises 28 member countries, including Algeria, Argentina, Brazil, Egypt, India, Iran, Lebanon, South Africa, Sri Lanka, and Syria, among others.

Finance Minister Muhammad Aurangzeb expressed Pakistan’s commitment to strengthening the collective voice of developing economies. He characterized the Chairmanship as a significant responsibility and called for enhanced international collaboration, robust multilateral institutions, and reinforced global commitments to tackle climate shocks, development financing gaps, and economic fragmentation on a global scale.

Minister Aurangzeb outlined Pakistan’s strategic priorities as Chair, focusing on development-led growth, improved representation for developing countries, and reforming the international financial architecture. He assured that Pakistan’s leadership would adhere to the G-24’s established principles of consultation, consensus, and collective advocacy. The approach involves close cooperation with members from Africa, Asia, Latin America, and the Caribbean, as well as with the International Monetary Fund, World Bank, and other international partners to achieve shared objectives.

The Finance Minister emphasized that the success of collective leadership should be measured by concrete development outcomes.

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