Rising debts and inclusion to top Africa’s agenda at World Bank/IMF meetings

Rising debts and inclusion to top Africa's agenda at World Bank/IMF meetings
Rising debts and inclusion to top Africa's agenda at World Bank/IMF meetings

Debts – Following a devastating earthquake in Morocco, authorities have confirmed that the 2023 Annual Meetings of the World Bank Group and International Monetary Fund (IMF) will go ahead as scheduled.

The meetings, which will be hosted by Morocco for the first time in 50 years, are set to take place from October 9 to 15, 2023.

Moroccan government commits to aid earthquake victims

While the earthquake has had a tragic impact, the Moroccan government remains committed to assisting victims.

The theme for this year’s Annual Meetings is “Global Action, Global Impact.”

Morocco’s Central Bank Governor, Abdellatif Jouahri, highlighted key issues that will be at the forefront of African nations’ discussions during the meetings.

These include addressing substantial debts owed to development banks by African nations, promoting financial inclusion, and tackling climate change.

Jouahri emphasized the importance of building a new form of multilateralism to bridge the gap between developed and developing countries.

He also stressed the need for fulfilling financial commitments to Africa, especially those related to climate change and food security.

Despite the earthquake, the World Bank and IMF have assessed the meeting venue and confirmed it is unaffected and suitable for hosting a global gathering.

In a joint statement, the organizations, along with Moroccan authorities, expressed their commitment to conducting the meetings in a manner that respects the ongoing relief efforts and ensures the safety of all participants.

Over 9,000 accreditations have already been confirmed for the meetings, with more than 12,000 participants expected to attend. Over 13,000 hotel reservations have been made for the event.

Morocco has prepared a world-class venue, with numerous halls, a large auditorium, offices, clinics, food courts, and press facilities.

Despite the earthquake’s tragic impact, Morocco is determined to host the global meetings successfully and demonstrate resilience in the face of adversity.

African countries attending the event are encouraged to have a robust agenda and advocate for their interests, with a focus on reforms and progress.