World Bank, IMF Annual Meetings In Morocco Postponed To 2022

The Annual Meetings of the World Bank Group and the International Monetary Fund (IMF) scheduled to take place in Marrakesh, Morocco, in October 2021 has been postponed by 12 months until 2022 due to the coronavirus pandemic.

The IMF, in a statement on Thursday disclosed that the decision to postpone the Annual Meetings, was reached after consultations between the Bretton Woods Institutions and the North African country, Morocco.

The global development lenders hold their annual gathering of finance officials every year in October and every third year it takes place in one of the member countries, after two consecutive years in Washington.

With travel curtailed due to the ongoing risks of Covid-19, the 2020 meeting last month was held virtually.

The event takes place over a week and draws thousands of officials, bankers, activists and journalists to the dozens of conferences, seminars and discussions that occur on the sidelines of the official business.

The World Bank Group plays a key role in the global effort to end extreme poverty and boost shared prosperity. It consists of five institutions: The World Bank, including the International Bank for Reconstruction and Development (IBRD) and the International Development Association (IDA); the International Finance Corporation (IFC); the Multilateral Investment Guarantee Agency (MIGA); and the International Centre for Settlement of Investment Disputes (ICSID).

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Working together in more than 100 countries, these institutions provide financing, advice, and other solutions that enable countries address the most urgent challenges of development.

The World Bank is owned by 180 member countries. Nigeria joined the bank on March 30, 1961.