MARRAKECH, Oct. 9 (Xinhua) — The annual meetings of the World Bank Group and International Monetary Fund (IMF) commenced on Monday in Marrakech, a city in southern Morocco.
According to Morocco’s national agency MAP, the meetings will span from Monday to Sunday and are anticipated to convene over 12,000 participants. This includes 190 delegations led by finance ministers and central bankers, as well as executives from the private sector across the globe.
This represents the first time in 50 years that an African country has hosted these annual meetings. During the gathering, the IMF will release its annual world economic outlook report, and discussions will center around various significant global challenges. These challenges include the energy crisis, climate change, regional conflicts, post-pandemic recovery, and potential solutions, with a specific focus on developing countries.
In a preliminary speech on Thursday, Kristalina Georgieva, the IMF’s managing director, stated that the global economy is “resilient, but challenged by weak growth and deepening divergence.”
She also emphasized three key policy priorities: strengthening economic and financial stability, establishing the foundations for inclusive and sustainable growth through transformative reforms and robust state institutions, and bolstering collective resilience through international cooperation.
Before the meetings commenced, both organizations worked with local authorities to assess Marrakech’s ability to host the event, considering the devastating earthquake that struck Morocco on September 8.
Credit: The Star : News Feed
