In a historic moment for the Maldives, Ali Hashim, the Governor of the Maldives Monetary Authority (MMA), has been appointed as the Chair of the Boards of Governors of the World Bank Group and the International Monetary Fund (IMF) for the year 2024. This appointment was made at the International Monetary Fund and the World Bank Group Annual Meetings currently underway in Marrakesh, Morocco.
The position of Chair rotates among the five principal regions of the IMF, and in 2024, it will be held by the Asia Pacific region. Ali Hashim’s selection as the Chair was the result of a unanimous decision by the Executive Directors representing the Asia Pacific region on the World Bank and IMF Board of Executives.
Ali Hashim’s appointment as Chair marks a historic milestone for the Maldives, as it’s the first time the nation has been chosen to lead the Boards of Governors of the World Bank Group and IMF during its 45-year membership in these institutions.
Upon receiving this prestigious role, Ali Hashim expressed his gratitude and honor in representing the Maldives in the international financial and development arena. He acknowledged the trust placed in him by friends and partners. As Chair of the Boards of Governors, Ali Hashim will have significant responsibilities, including presiding over the 2024 Annual Meetings Plenary, which will be attended by finance ministers and central bank governors from IMF and World Bank member countries, as well as IMF and World Bank staff and management.
In addition to this crucial role, the Chair of the Boards of Governors will also assume the position of the Chair of the Joint Committee on Remuneration of Executive Directors and their Alternates, and the Chair of the Joint Procedures Committee/Multilateral Investment Guarantee Agency Procedures Committee.
Ali Hashim’s appointment signifies a momentous occasion for the Maldives and showcases the nation’s growing influence and contributions on the international stage in the realm of global finance and development.