By Folasade Akpan
Abuja, Nov. 5, 2020 The planned World Bank Group-IMF Annual Meetings scheduled to have taken place in Marrakesh, Morocco in October is postponed by 12 months until 2022 due to the COVID-19 pandemic.
The announcement was made on Thursday in Washington D.C. by the Kingdom of Morocco, the World Bank Group and the International Monetary Fund (IMF) in a statement issued by the World Bank said.
According to the statement, the annual meetings are usually held for two consecutive years at the WBG and IMF headquarters in Washington D.C. and every third year in another member country.
“The annual meetings bring together central bankers, ministers of finance and development, private sector executives, civil society, media and academics to discuss issues of global concern.
“This includes the world economic outlook, global financial stability, poverty eradication, inclusive economic growth and job creation, climate change, and others,” it said.
The News Agency of Nigeria (NAN) reports that the IMF is an organisation of 190 countries working to foster global monetary cooperation and secure financial stability.
It also facilitates international trade, promote high employment and sustainable economic growth and reduce poverty around the world.
Created in 1945, it is governed by and accountable to the 190 countries that make up its near-global membership.
The World Bank Group, which plays a key role in the global effort to end extreme poverty and boost shared prosperity, consists of five institutions.
These institutions working together in over 100 countries provide financing, advice and other solutions that enable countries to address the most urgent challenges of development.