Holding WB-IMF Meetings in Marrakech Highlights Morocco’s Strong International Ties, Says Lekjaa

Morocco’s hosting of the Annual Meetings of the World Bank Group (WB) and the International Monetary Fund (IMF) is seen as a testament to the strong relations between the Kingdom and international financial institutions, according to Fouzi Lekjaa, the Delegate Minister to the Minister of Economy and Finance, responsible for the Budget. These high-level relations have recently been underscored by significant initiatives, such as the $5 billion credit line extended by the IMF to Morocco, announced by Lekjaa during a press conference held on the sidelines of these meetings. Lekjaa emphasized that Morocco’s role in hosting this global economic event is a result of a development policy pursued under the enlightened leadership of HM King Mohammed VI for more than two decades. He noted that it also reaffirms the Kingdom’s leadership in organizing major international events. Furthermore, Lekjaa pointed out that these meetings, taking place in the aftermath of the Al Haouz earthquake, serve as evidence of Morocco’s remarkable ability to face a variety of challenges. He highlighted the approach taken by the Kingdom to overcome this natural disaster, led by HM the King, which has now become a globally recognized model. Discussing the Marrakech Declaration released on Wednesday by Morocco, the WB, and the IMF, Lekjaa emphasized that it showcases the collective ambition and determination of international institutions, civil society, and governments to mitigate the impact of a series of global crises. These crises include the COVID-19 pandemic, the Russia-Ukraine conflict, and the ongoing challenges posed by climate change. In addition, Lekjaa reaffirmed Morocco’s ambition to not only overcome the repercussions of these successive crises but also to move forward with confidence, aiming to join the ranks of emerging countries by 2025. The choice of Marrakech as the venue for this significant international event demonstrates the trust placed in the Kingdom’s capabilities by the Bretton Woods institutions, under the enlightened leadership of HM King Mohammed VI. It also highlights the major initiatives undertaken by Morocco, including the expansion of social protection and the reconstruction efforts in areas affected by the Al Haouz earthquake. This global event, returning to African soil after 50 years, has attracted the participation of financial and banking leaders, as well as economists from 190 member countries.