The Peruvian Minister of Economy and Finance Alonso Segura officially announced that the Annual Meeting of the World Bank will take place in Lima, Peru this October. He was joined by President of the World Bank Jim Yong Kim; Managing Director of the IMF Christine Lagarde and the President of the Peruvian Central Bank, Julio Velarde.
It is the first time in 48 years that the Annual Meeting will be held in Latin America, emphasizing the great progress that Peru and the region have made in their economic sectors. Over 15,000 delegates and representatives are expected to attend this meeting from the 9th-11th October 2015. The construction of a new convention centre is nearing completion and hundreds of new hotel rooms are being made available for this event.
Mr. Velarde noted the good micro economic policies that the Peruvian government has implemented during the last few years in light of the fall in government earnings due to the decline in commodity prices. Peru was chosen as the location for the summit due to the country's growth, which has averaged 6.4% annually over the past decade.