Morocco Aims to Proceed with IMF-World Bank Meetings Despite Earthquake

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Moroccan Government’s Determination to Host Scheduled IMF-World Bank Meetings

The Moroccan government has expressed its intention to move forward with the annual meetings of the International Monetary Fund (IMF) and World Bank, which are planned for October in Marrakech, despite the recent devastating earthquake.

Official Statements on Meeting Plans

According to insiders familiar with the meeting preparations, Moroccan authorities are adamant about maintaining the schedule for the IMF-World Bank meetings, which are set to take place from October 9 to 15, 2023. These sources, close to the Moroccan government, have emphasized that there have been no alterations to the existing plans.

Stance of IMF and World Bank

The IMF and World Bank have refrained from providing comments on Morocco’s stance regarding the meetings. Instead, they have referred to a joint statement issued over the weekend. This statement, made in collaboration with India, France, the European Union, and the African Union, extends condolences for the loss of life and destruction caused by the earthquake. It also expresses a collective willingness to support Morocco during this challenging period, including addressing immediate financial requirements.

Focus on Immediate Response to Earthquake

Both international financial institutions have clarified that their immediate focus remains on providing assistance in the aftermath of the earthquake and aiding in the emergency response efforts.

Impact of Earthquake and Marrakech’s Condition

The earthquake, measuring 6.8 on the Richter scale, struck the High Atlas Mountains, approximately 45 miles southwest of Marrakech. As of Monday, the death toll has climbed to nearly 2,900, with more than 2,500 individuals sustaining injuries. Search and rescue operations have faced considerable challenges due to the collapse of traditional mud brick houses in the most severely affected areas.

While the ancient city center of Marrakech sustained some damage, the more modern parts of the city have largely been spared. Additionally, the venue for the upcoming IMF-World Bank meetings, located on the outskirts near the airport, remains largely intact. Preparations for the event are continuing as planned, according to sources.

Bloomberg’s Earlier Report

Previously, Bloomberg reported that Moroccan officials were anticipating the IMF-World Bank meetings would proceed, indicating that preparations were well underway.

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