Morocco wants IMF-World Bank meetings to proceed despite earthquake

The Moroccan government wants to proceed with International Monetary Fund-World Bank annual meetings scheduled for October in Marrakech despite Friday’s devastating earthquake, two sources familiar with the meeting planning said on Monday.

“From the viewpoint of the Moroccan authorities, the annual meetings of the IMF and World Bank will take place as scheduled: October 9-15, 2023. There is no change of plan as of now,” one of the people, a source close to the Moroccan government, told Reuters.

The people were not authorised to speak publicly on the matter and spoke on condition of anonymity.

03:17

Morocco quake deaths climb past 2,000, as survivors rendered homeless

Morocco quake deaths climb past 2,000, as survivors rendered homeless

Both institutions had said their immediate focus was on the initial response to the disaster.

The death toll from the 6.8 magnitude quake that struck in the High Atlas Mountains, 45 miles (72km) southwest of Marrakech reached nearly 2,900 on Monday, with more than 2,500 injured.

The collapse of the traditional mud brick houses into earthen rubble in the hardest-hit areas has made the search for survivors particularly difficult.

With authorities ‘absent’, Morocco citizens offer aid as death toll passes 2,800

Marrakech suffered some damage in its ancient city centre, but more modern parts of the city have largely escaped damage. The site for the IMF and World Bank meetings, a campus of temporary structures on the city’s outskirts near the airport, is largely intact, and preparation work is continuing, one of the sources said.

Bloomberg had earlier reported that Moroccan officials were expecting the meetings to proceed.

The IMF and World Bank annual meetings are expected to draw well over 10,000 people to Marrakech, from the delegations of their 190 member states to media, non-profit and civil society groups, requiring elaborate security and travel arrangements.

The meetings in Marrakech were originally scheduled for 2021, but were postponed twice due to the Covid-19 pandemic.

In October 2018, the IMF and World Bank proceeded with their annual meetings on the Indonesian resort island of Bali, with more than 11,000 participants, just two weeks after a 7.5-magnitude earthquake and tsunami struck Sulawesi, killing more than 4,300 people.

The Indonesian island of Lombok, just east of Bali, had also suffered more than 500 deaths in a series of earthquakes in July and August 2018. Both disasters left tens of thousands of people homeless.

Then-IMF managing director Christine Lagarde visited disaster recovery areas in Lombok, while Kristalina Georgieva, who was World Bank chief executive officer at the time and later succeeded Lagarde as the head of the IMF, visited devastated Palu in central Sulawesi.

At the time, Lagarde said: “Cancelling the meetings was not an option because that would be a tremendous waste of the resources that had been committed over the last three years and lose the great opportunity to showcase Indonesia to the world and to create opportunities and jobs.”