Maldives has been elected to be the Chairperson of the World Bank and International Monetary Fund’s (IMF) Board of Governors for the first time.
Since Maldives has been elected for this position, the role will be filled by the Governor of Maldives Monetary Authority (MMA), which is the country’s central bank.
MMA said the appointment was made by a vote of member states of the World Bank Group and the International Monetary Fund.
Governor Ali Hashim was elected as Chairperson with the support of all participating countries. The announcement of Maldives' selection was made during the Annual Meeting of the World Bank and IMF in Marrakesh, Morocco. The Chairperson will preside over the annual general meetings of the IMF and the World Bank.
A chair of the Board of Governors of the World Bank and IMF will be appointed from different regions each year. Accordingly, an Asia-Pacific member state was to be named for 2024.
Governor Hashim said that this achievement was a great honor for the Maldives, marking a historic victory for the country.
"Even though the Maldives has been an active member of the IMF for the past 45 years, this is the first time the Maldives has received this opportunity. I would like to take this moment to thank everyone who helped us with this endeavor," Governor Hashim said.