The International Monetary Fund and World Bank have postponed their annual meetings that were both scheduled for October 2021 in Marrakesh, Morocco until 2022 due to the COVID-19 pandemic.

The institutions announced the development in a statement on Thursday as the world continues to fight the pandemic that has so far infected more than 48.25 million people globally with a death toll exceeding 1.22 million. 

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, including the world economic outlook, global financial stability, poverty eradication, inclusive economic growth and job creation, climate change, and others.