Home NewsInternational World Bank/IMF hold annual meetings in Marrakech

World Bank/IMF hold annual meetings in Marrakech

by Haruna Gimba
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By Asmau Ahmad

Stakeholders from across the globe have converged on Marrakesh, Morocco for the 2023 World Bank/International Monetary Fund (IMF) annual meetings.

The meetings are holding after Marrakech experienced a devastating earthquake, which swept through other cities in the country.

The hosting of the meetings by Morocco appears to have brought relief to residents of the city, many of whom are already taking advantage of the influx of visitors to make brisk business.

At the Marrakech Airport, hundreds of residents came with vehicles to convey delegates to their destination at exorbitant fees.

Some home owners in the beautiful city also vacated their homes and rented them out to delegates, charging between $300 to $3009 for the one-week duration of the meetings.

A taxi driver Osmae Awal, said the residents of Marrakech were happy at the presence of many participants from across the world for the meetings.

“Welcome to Marrakech. We are happy to have you all here. Morocco is a beautiful country and I am sure you will enjoy your stay,” he said.

Adil Imam, another resident of Marrakech, said that the influx of people into the city was a huge relief from the recent tragic earthquake.

“We are happy that people are coming in here from all over the world.

“We will do everything to make you enjoy your stay here,” he said.

The 2023 annual meetings of the World Bank group is scheduled to hold between October 9 and October 15.

The managements of the World Bank and the IMF, and the Moroccan authorities agreed to hold the meetings in Marrakech in spite the recent devastating earthquake experienced by the country.

According to the World Bank President, Ajay Banga, IMF Managing Director, Kristalina Georgieva; and Kingdom of Morocco Minister of Economy and Finance, Nadia Fettah Alaoui in a joint statement, the meetings will hold by “adapting the content to the circumstances.”

They said that since the earthquake in Morocco on September 8, the World Bank and the IMF staff had worked in close coordination with the Moroccan authorities and a team of experts to thoroughly assess Marrakech’s capacity to host the Meetings.

“In undertaking this assessment, key considerations were that the meetings would not disrupt vital relief and reconstruction efforts, and that the safety of the participants can be assured.

“Based on a careful review of the findings, the Managements of the World Bank and IMF, with the Moroccan authorities, have agreed to proceed with holding the 2023 Annual Meetings in Marrakech.

“The meetings will be conducted in a way that does not hamper the relief efforts, and respects the victims and Moroccan people.

“At this very difficult time, we believe that the annual meetings also provide an opportunity for the international community to stand by Morocco and its people, who have once again shown resilience in the face of tragedy.

“We also remain committed to ensuring the safety of all participants,” they said.

World Bank plays a key role in the global efforts to end extreme poverty and boost shared prosperity.

Working in more than 100 countries, the bank provides financing, advice, and other solutions that enable countries to address the most urgent challenges of development.

The IMF is a global organisation that works to achieve sustainable growth and prosperity for all of its 190 member countries.

It does so by supporting economic policies that promote financial stability and monetary cooperation, which are essential to increasing productivity, job creation, and economic well-being.

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