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GWL Voices deeply mourns the passing of Shamshad Akhtar, a distinguished economist, diplomat, and valued member of GWL Voices, who passed away on 27 December 2025 at the age of 71. In recognition of her extraordinary contributions to global leadership and gender equality, she will be honoured as a GWL Voices Member Emerita.
A trailblazer in global economic governance, Shamshad Akhtar served twice as Caretaker Finance Minister of Pakistan and made history as the first woman Governor of the State Bank of Pakistan. At the international level, she held senior leadership roles at the United Nations, including as Under-Secretary-General and Executive Secretary of UN ESCAP, and previously served as Assistant Secretary-General and Senior Adviser to the UN Secretary-General.
Her distinguished career also included senior roles at the World Bank, where she served as Vice President for the Middle East and North Africa, and at the Asian Development Bank, where she held multiple leadership positions across governance, trade, and financial sectors. At the time of her passing, she was Chair of the Pakistan Stock Exchange and a member of Pakistan’s Prime Minister’s Economic Advisory Council.
Shamshad Akhtar was a principled advocate for inclusive and sustainable development, consistently highlighting the need to address structural gender inequalities within economic systems, particularly in the highly masculinized architecture of global finance.
“In the midst of the pandemic, it is critical that countries pursue sustainable and equitable growth. We need to build back better with emphasis on climate-resilient infrastructure. Tackling gender-based inequalities in economic opportunities as well as in access to land, financial instruments, and Information and Communication Technologies would both improve economic growth and support the broader 2030 Agenda for Sustainable Development.”
— Shamshad Akhtar
She leaves behind a powerful legacy of service, integrity, and leadership. As a GWL Voices Member Emerita, her contributions will continue to inspire women leaders and advocates for gender-equal global governance.
GWL Voices extends its deepest condolences to her family, friends, and colleagues.