Governor of the Maldives Monetary Authority (MMA) Ali Hashim has assumed the role of Chair of the Boards of Governors of the International Monetary Fund (IMF) and the World Bank for the year 2024. The announcement was made during the plenary session of the ongoing Annual Meetings of the IMF and World Bank held at Marrakech, Morocco.
Governor Hashim, representing the Maldives, was unanimously proposed as the Chair by Executive Directors of the Asia-Pacific region of the IMF and World Bank following a consultative process. The Chair of the Boards of Governors of the IMF and the World Bank Group is rotated among the five main regions of both institutions. The chair was selected from the Asia Pacific region for 2024. It is the first time the Maldives will serve in a leadership position in either the IMF or the World Bank Group.
The selection of Governor Hashim to the position is a representation of the trust and faith the international community has placed in the Maldives and its foreign policy principles. The government believes that Governor Hashim is eminently qualified to chair the Boards of Governors of the IMF and World Bank Group in the upcoming year and is confident in his ability to effectively discharge his duties at a critical juncture when important discussions on the future of the two institutions are taking place.
The Maldives joined the IMF and the World Bank in 1978 and has received assistance from both international financial institutions in a number of areas, including improving the efficacy of public financial management and policy-making, enhancing the monetary and financial frameworks, strengthening resilience to climate change and disasters and enhancing employment and economic opportunities for the Maldivian people.