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. 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
Security forces stand guard outside a convention center hosting the IMF and World Bank annual meetings, in Marrakech, Morocco, Sunday, Oct. 8, 2023. The International Monetary Fund and World Bank kick off their annual meeting in Marrakech on Monday, one month after a deadly earthquake struck Morocco and killed nearly 3,000 people. Donated mattresses are delivered to people who were displaced by the earthquake in Moulay Ibrahim, outside Marrakech, Saturday, Oct. 7, 2023.
Their original timeline was delayed by the pandemic, but the meeting beginning Monday arrives at an apropos time. After alast month killed nearly 3,000 and wreaked $11.7 billion in damages, both officials and civil society groups are eagerly anticipating discussions about how to promote economic resiliency in light of natural disaster.
Those shocks include the pandemic and rising energy and food costs spurred by the war in Ukraine. Those challenges are particularly pronounced in Africa, where many countries spend more on debt than health care and education combined. Critics say the terms of many loans offered force governments from Egypt toIn the aftermath of the earthquake, the IMF approved a $1.
Signs of the country’s rapid economic development will be on display in Marrakech, where streets have been swept and damaged landmarks.
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