The IMF and World Bank postponed the annual meetings set to take place in Morocco next year until 2022 due to the coronavirus pandemic, the institutions announced Thursday.

The global development lenders hold their annual gathering of finance officials every year in October and every third year it takes place in one of the member countries, after two consecutive years in Washington.

With travel curtailed due to the ongoing risks of Covid-19, the 2020 meeting last month was held virtually.

The event takes place over a week and draws thousands of officials, bankers, activists and journalists to the dozens of conferences, seminars and discussions that occur on the sidelines of the official business.