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Rabat – The joint International Monetary Fund (IMF) and World Bank meeting in 2022 will not be taking place in Marrakech as previously scheduled.
Instead, the event will take place this year in Washington DC in October, an IMF and World Bank joint statement said.
Commenting on the decision, the two institutions cited the uncertainty looming over the continued COVID-19 situation, added the joint statement, noting that the 2023 joint IMF-World Bank meeting will take place in a yet-to-be-determined North African country.
The meeting takes place outside of Washington DC every once in three years with central bankers, academics, and private sector executives joining the discussion on global growth issues.
Read Also: CGEM, IMF Discuss Morocco’s Post-COVID Economic Recovery
Close to 13,000 people attend the event every year, with observers from intergovernmental organizations and representatives from financial institutions and bodies.
Morocco joined the IMF on April 15, 1958, and the two partners have since worked together to stimulate economic growth in the North African country by making the financial system more transparent and strengthening fiscal institutions.
The IMF is mostly attempting to help Morocco drive down high unemployment rates. Mirroring the IMF’s concern over high unemployment rates, Morocco seems to have positioned unemployment at the front of current and future economic policies.
Morocco’s new vision for future socio-economic reforms, the New Development Model, puts human capital at the center of reform plans.
Multiple government initiatives such as the “Awrach” program are at the heart of Morocco’s effort to address the chronically high unemployment rate among the country’s youth.
The World Bank estimates that Morocco has the potential to grow exponentially should the government ramp up the implementation of the New Development Model.
Read Also: IMF: Moroccan Banks Continued to Thrive Despite COVID Crisis
