IMF and World Bank to proceed with annual meetings in Morocco in October
There are concerns about the earthquake affecting the meetings in Marrakech since it is expected to bring a crowd of 10,000-15,000 people to the city.
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Despite the recent devastating earthquake in Morocco, the International Monetary Fund (IMF) and World Bank have opted to proceed with their annual meetings in Marrakech, scheduled for October.
Key details
- According to Reuters, top officials from the IMF and the World Bank decided to continue with the annual meetings following approvals from Moroccan authorities.
- There are concerns about the earthquake affecting the meetings in Marrakech since it is expected to bring a crowd of 10,000-15,000 people to the city.
- IMF managing director Georgieva said that Morocco’s prime minister told her it would be devastating for Morocco’s hospitality sector if the meeting is moved to a different location.
Key quote
- World Bank president Ajay Banga, IMF managing director Kristalina Georgieva and Morocco’s Economy Minister Nadia Fettah Alaoui said in a joint statement:
“As we look ahead to the meetings, it is of utmost importance that we conduct them in a way that does not hamper the relief efforts underway and that is respectful to the victims and the Moroccan people.”
Adjusting to the situation
- Given the recent earthquake in Morocco, the IMF and World Bank have been working closely with Moroccan authorities to assess the feasibility of holding the meetings in Marrakech.
- The primary consideration was to ensure that the meetings would not disrupt relief and reconstruction efforts and prioritize the safety of participants.
- After carefully reviewing all these, the IMF and World Bank have agreed to proceed with the annual meetings.
Zoom out
- The World Bank and IMF annual meetings will be held in Africa for the first time in 50 years.
