World Bank, IMF meet in Morocco weeks after earthquake

One month after the devastating earthquake in Morocco, the International Monetary Fund (IMF) and World Bank went ahead with their annual meetings in the North African country on Monday.

The event in the western city of Marrakesh brought together finance ministers, representatives of the financial sector, and development experts, as well as central banks.

The IMF played a crucial role in bringing countries together, as the fund’s head, Kristalina Georgieva, stressed before the meetings.

“This means also expanding the voice of emerging and developing countries,’’ Ms Georgieva said.

The consultations will continue until Sunday and, among other issues, cover the looming debt crisis in lower-income countries, climate change, high inflation, and the fight against poverty.

The IMF will also present a new forecast for the further development of the global economy on Tuesday.

Ms Georgieva had already said the fund expects weak economic growth in the medium term.

At the beginning of September, a 6.8-magnitude earthquake shook Morocco, killing almost 3,000 people, according to national authorities.

It was unclear in the aftermath whether the annual meeting of the IMF and World Bank would go ahead in the country as planned.

In the end, both institutions said that while it was essential that relief efforts were not hampered, the event would still take place.

“At this very difficult time, we believe that the annual meetings also provide an opportunity for the international community to stand by Morocco.

“Its people, who have once again shown resilience in the face of tragedy,’’ they said in a statement.


Back to top button