IMF and World Bank to Decide on Annual Meetings in Marrakech After Earthquake Impact



 On Monday, the World Bank and the International Monetary Fund (IMF) will determine if they want to continue organizing their annual meetings in Morocco, which was recently the site of a significant earthquake. Kristalina Georgieva, the IMF's managing director, said in an interview with Reuters.

The meetings were supposed to take place in Morocco, but after a major earthquake that killed over 2,900 people in the High Atlas Mountains, they are considering changing the plan.

The meetings was supposed to take place in Marrakech, a well-known tourist destination in Morocco, which is just 45 miles (72 km) from the epicenter of the earthquake. The historic Medina of Marrakech suffered major damage as a result of the earthquake.

The meetings with the IMF and World Bank, which could have 10,000–15,000 attendees, are still not planned, but Moroccan leaders really want them to take place.

Georgieva claimed that Morocco is firmly committed to conducting the meetings, despite the difficulties brought on by the earthquake. 

She spoke with Aziz Akhannouch, the prime minister of Morocco, who confirmed that shifting the meetings may be bad for the country's hotels and restaurants, which depend on major events like these.

Georgieva suggested that in order to better match the conditions in Marrakech, the meetings may be shortened and attended by just a few people.

The agreement between the IMF and Morocco for a $1.3 billion loan is an important subject of discussion. The goal of this loan is to improve Morocco's financial position and prepare it for drought-related climatic issues. Prior to the beginning of the meetings in two weeks, the IMF's board will probably approve this loan.

Although the loan has nothing to do with the earthquake, Morocco is using it as part of a strategy to strengthen its economy and prepare for climate change. The IMF approved a $5 billion loan for Morocco in April to assist the country prepare for emergencies.

Georgieva said that attendees' safety is not a major concern and that many factors, including the venue's size and accessibility, will determine whether or not the meetings take place.



















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