The International Monetary Fund and World Bank are holding their annual meeting in Morocco, one month after an earthquake killed nearly 3,000 people in the North African country
Laundry belonging to people who were displaced by the earthquake is put out against a tree in Ouirgane, outside Marrakech, Saturday, Oct. 7, 2023. Villagers in hard-hit regions are weighing how to best rebuild as Moroccan authorities begin to providing rehousing funds to those whose homes were destroyed by last month's earthquake.
“In no other area is the need for international cooperation as evident as in addressing the existential threat of climate change. The world has a responsibility to stand with vulnerable countries as they deal with shocks they have not caused,” Kristalina Georgieva, the IMF’s managing director said in a speech on Thursday.
“It’s a time of multiple crises, particularly for Arab and African countries who’ve been hit by various exogenous shocks not of their making,” said Iskander Erzini Vernoit, the director of the Morocco-based Imal Initiative for Climate & Development. “’There’s this massive financing gap on the order of trillions for developing countries and also the key question of how affordable the financing can be.
In mountain villages far from the city's swanky hotels, midrise apartments and billboards advertising new construction, roads remain unpaved, water can be scarce and jobs hard to come by. The earthquake, residents say, exacerbated disparities plaguing rural areas and compounded struggles facing already-impoverished communities.
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Morocco welcomes the annual meeting of the IMF and World Bank a month after its deadly earthquakeThe International Monetary Fund and World Bank are holding their annual meeting in Morocco, one month after an earthquake killed nearly 3,000 people in the North African country. Officials gathering in Marrakech on Monday will likely continue discussions about how to confront climate change and promote resiliency as inflation and debt challenge both rich and poor countries. Morocco has estimated it will cost roughly $11.7 billion to repair earthquake damage, and the IMF approved a $1.3 billion l
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Morocco welcomes the annual meeting of the IMF and World Bank a month after its deadly earthquakeThe International Monetary Fund and World Bank are holding their annual meeting in Morocco, one month after an earthquake killed nearly 3,000 people in the North African country.
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Morocco welcomes the annual meeting of the IMF and World Bank a month after its deadly earthquakeThe International Monetary Fund and World Bank are holding their annual meeting in Morocco, one month after an earthquake killed nearly 3,000 people in the North African country.
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