Ali Hashim, the Governor of Maldives Monetary Authority (MMA), has been chosen as the Chair of the Boards of Governors for both the World Bank Group and the International Monetary Fund (IMF) for the year 2024. The decision was made during the annual meetings of these global financial institutions, currently taking place in Marrakesh, Morocco.

This marks the first time a representative from the Maldives will occupy the role. The selection is particularly significant considering the Maldives has been a member of both institutions for 45 years. Hashim was nominated unanimously by the Executive Directors representing the Asia Pacific region on both Boards.

“It is a great honour 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,” said Governor Ali Hashim.

The chairmanship of these boards rotates among the five primary regions of the IMF, and in 2024 it will be the turn of the Asia Pacific region to lead. As Chair, Ali Hashim will preside over a range of important duties. 

Among these is chairing the 2024 Annual Meetings Plenary, which will be attended by finance ministers and central bank governors of member countries, as well as staff and management of both the IMF and World Bank Group.

Besides chairing the plenary, Hashim will also serve as the Chair of the Joint Committee on Remuneration of Executive Directors and their Alternates. Additionally, he will act as the Chair of the Joint Procedures Committee/Multilateral Investment Guarantee Agency Procedures Committee.