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Abu Dhabi, UAEMonday 21 May 2018

World Bank, IMF to hold 2021 annual meetings in Africa for the first time since 1973

Boards of both the institutions have given a nod to hold the meetings in Morocco

<p>The landmark Jemaa el-Fnaa square, in Marrakesh, Morocco. Both the World Bank and the IMF have decided to hold their 2021 meetings in the city. Mosa&#39;ab Elshamy&nbsp;/&nbsp;AP Photo/</p>
<p>The landmark Jemaa el-Fnaa square, in Marrakesh, Morocco. Both the World Bank and the IMF have decided to hold their 2021 meetings in the city. Mosa&#39;ab Elshamy&nbsp;/&nbsp;AP Photo/</p>

The international monetary Fund and the World Bank have decided the hold their 2021 annual meetings in the Moroccan city of Marrakesh, their first gathering in Africa since 1973 when they held the events in Nairobi, Kenya.

The respective boards of both the World Bank Group and the IMF have given nods to hold the meetings in the Morocco, which coincides with the 60th anniversary of the African nation’s membership of the two institutions, they said in a joint statement posted on the website of IMF on Wednesday.

The annual meetings of the two institutions bring together central bankers from across the globe, ministers of finance and development, leading private sector executives, civil society, media and academics to discuss issues of global concern.

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Thought leaders deliberate world economic outlook, financial stability, poverty eradication, inclusive economic growth and job creation, climate change, and other matters of global importance at these events.

The annual meetings are usually held for two consecutive years at the World Bank and IMF headquarters in Washington and every third year in another member country. The 2018 annual meetings will take place in Indonesia in October this year, at which time there will be an official signing ceremony for the 2021 Meetings in Morocco, according to the statement.