IMF and World Bank to Hold Annual Meetings in Marrakech Despite Recent Earthquake

In a statement, World Bank President Ajay Banga, IMF Managing Director Kristalina Georgieva and Moroccan Minister of Economy Nadia Fettah Alaoui announced that the annual meetings of the two Bretton Woods institutions will be held from October 9 to 15 in Marrakech, just 72 km from the site of the 6.8 magnitude earthquake that occurred on September 8, with some changes to adapt the content "to the circumstances." "It is of the utmost importance that the meetings be held in a way that does not hinder ongoing relief operations and respects the victims and the Moroccan people," they added.

The three officials added: "In this very difficult time, we believe that the annual meetings are also an opportunity for the international community to support 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."

By agreeing to hold the meetings in Morocco, the International Monetary Fund (IMF) and the World Bank (WB) have thus responded favorably to the request of the Moroccan authorities. They had pleaded for the holding of these meetings in the ochre city where 10,000 or 15,000 people are expected. On Friday, IMF Managing Director Kristalina Georgieva said Moroccan Prime Minister Aziz Akhannouch had told her it would be "absolutely devastating" for Morocco’s hotel industry if the meetings were moved to another location and had also assured her that Marrakech was ready to host the meetings.