Governor Ali Hashim of the Maldives Monetary Authority has made history by assuming the role of Chair for both the Boards of Governors of the World Bank Group and the International Monetary Fund (IMF) for the year 2024.
This appointment, revealed during the Annual Meetings held in Marrakesh, Morocco on October 13, 2023, is not only significant for the Maldives but also holds global importance.
The Chair position, which rotates among the five primary regions of the IMF, will be held by the Asia Pacific region in 2024. Governor Hashim was chosen unanimously by the Executive Directors representing the Asia Pacific region on the World Bank and IMF Board of Executives, signifying a strong vote of confidence in his leadership. This historic decision represents the first time that the Maldives will serve as the Chair of the Board of Governors of both the World Bank Group and the IMF, showcasing the country's growing prominence on the international financial stage.
Governor Hashim's responsibilities will encompass chairing the 2024 Annual Meetings Plenary, which brings together finance ministers and central bank governors from member countries of the IMF and the World Bank. This role is pivotal in shaping global financial policies and strategies, making Governor Hashim a key figure in discussions that will influence the future of international finance and development.
In addition to these responsibilities, as the Chair of the Boards of Governors, Governor Hashim will also act as the 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.
This multifaceted role places Governor Hashim in a pivotal position to guide and contribute to vital decisions that impact the functioning of these influential global institutions.
Governor Hashim expressed his gratitude and honored his new role, 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."
This historic appointment not only highlights the increasing global relevance of the Maldives but also demonstrates the international community's trust in Governor Ali Hashim's leadership and capabilities as he takes on this crucial role in shaping the future of global finance and development.
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