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    World

    Annual IMF and World Bank meetings to proceed in Morocco

    Annual IMF and World Bank meetings to proceed in Morocco

    The International Monetary Fund (IMF), the World Bank, and Morocco have jointly announced that the annual meetings of these two global institutions will proceed as planned in Marrakech in October, despite a recent devastating earthquake in the region, Reuters reported. The earthquake, with a magnitude of 6.8, occurred on September 8, just 45 miles (72 km) from Marrakech and resulted in the loss of more than 2,900 lives.

    Photo: The International Monetary Fund (IMF) logo is seen outside the headquarters building in Washington, U.S., September 4, 2018.
    Source: Reuters

    The meetings are scheduled to take place from October 9 to October 15, and while they will proceed, there will be some adjustments to the content "to adapt to the circumstances," as stated in a joint statement by World Bank President Ajay Banga, IMF Managing Director Kristalina Georgieva, and Morocco's Economy Minister Nadia Fettah Alaoui.

    The decision to proceed with the meetings was made by senior officials from the IMF and the World Bank at the request of Moroccan authorities. The annual meetings are expected to bring together a significant number of participants, estimated at 10,000 to 15,000, to the Moroccan city.

    In their joint statement, the officials emphasized the importance of conducting the meetings in a manner that does not hinder ongoing relief efforts and that shows respect for the earthquake's victims and the people of Morocco. They also expressed their commitment to ensuring the safety of all participants.

    IMF Managing Director Kristalina Georgieva noted that Morocco's Prime Minister had conveyed that moving the meetings to a different location would have a "quite devastating" impact on Morocco's hospitality sector.

    This decision to proceed with the meetings in Marrakech reflects a balance between the importance of the event and the need to support Morocco during a challenging time.

    Earlier Daryo reported that the IMF was planning to convey a firm message to China regarding the necessity to increase domestic spending, address concerns in the real estate sector, and manage local government debt, according to IMF Managing Director Kristalina Georgieva.

    Follow Daryo's official Instagram and Twitter pages to keep current on world news.

    19.09.2023, 12:21   Comments (0)   715
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