In a decision made during the ongoing Annual Meetings of the International Monetary Fund (IMF) and the World Bank Group in Marrakesh, Morocco, Governor Ali Hashim, currently serving as the Governor of the Maldives Monetary Authority, has been selected as the Chair of the Boards of Governors for both the World Bank Group and the IMF for the year 2024. This significant appointment, which rotates among the five principal regions of the IMF, is set to be held by the Asia Pacific region in the upcoming year.
Governor Ali Hashim’s nomination as the Chair was met with unanimous approval by the Executive Directors representing the Asia Pacific region on the World Bank and IMF Board of Executives. This marks a historic first for the Maldives, as the nation has never served as the Chair of the Board of Governors for these global financial institutions.
In response to this esteemed appointment, Governor Ali Hashim expressed his gratitude, stating, “It is a great honor to represent Maldives in the international financial and development arena. This marks a historic moment, as it’s the first time in 45 years of Maldives’ membership in the World Bank Group and the IMF. I am sincerely grateful to our friends and partners for their trust.”
Among the pivotal responsibilities accompanying this appointment is the duty to chair the 2024 Annual Meetings Plenary, which will be attended by finance ministers and central bank governors from member countries of both the IMF and the World Bank. In addition, Governor Ali Hashim will assume the role of Chair of the Joint Committee on Remuneration of Executive Directors and their Alternates, as well as the Chair of the Joint Procedures Committee/Multilateral Investment Guarantee Agency Procedures Committee.
Governor Ali Hashim’s selection is poised to have a notable impact on the global financial and development landscape as he takes on this prestigious role, representing the Asia Pacific region on the international stage.