In a statement to MAP on the occasion of his participation in the Annual Meetings, which kicked off this Monday in Marrakech, Velarde noted that "the organization of this event in Morocco highlights the need for international institutions to adapt to this new reality and recognize the growing role of emerging economies in the global economy".

"I believe that Morocco's designation as host country for the Annual Meetings is a fitting recognition of the growing presence of the IMF and WB in the region. It is also a recognition of the growing presence of emerging economies and developing countries in the global context", stressed the president of the Peruvian Central Bank.

This presence is all the more important, in his view, given that these emerging economies "now account for around 57% of global GDP, whereas forty years ago, these economies contributed 37% of global GDP", pointing out by way of illustration that China is now the world's largest economy, with India in third place.

Velarde noted that the Marrakech meetings offer emerging countries a unique opportunity to highlight their achievements, challenges and prospects, both in this new international environment and within the IMF.