The World Bank (WB) and the International Monetary Fund (IMF) decided on Tuesday to hold their 2021 annual meeting in New York City in the United States of America. This is due to uncertainties over the evolution of the covid-19 pandemic in the Moroccan city of Marrakesh, where the meeting was to take place, in October.

Thus, Morocco's former imperial city will host the October meeting next year, according to a statement quoted by The Country newspaper.

Generally the annual meetings of the WB and IMF are held every two years at the headquarters of the institutions in Washington DC, and every three years it is held in a city of a member country.

The events are attended by bankers, finance ministers, private sector executives, civil society, the media, and academics.

The aim is to discuss issues of global concern, including its economic outlook, financial stability, poverty eradication, inclusive economic growth and job creation, climate change, etc.

The WB is dedicated to eliminating poverty, while the IMF seeks to foster global monetary cooperation and ensure financial stability.