Belgium National Bank Governor Touts Morocco as ‘Significant’ Player in Global Economy

The governor of the National Bank of Belgium (NBB), Pierre Wunsch, has heaped praise on Morocco’s economic outlook, hailing the country’s growth and resilience in comments made on the sidelines of the ongoing annual meetings of the World Bank and International Monetary Fund (IMF) in Marrakech.

Rabat – The governor of the National Bank of Belgium (NBB), Pierre Wunsch, has heaped praise on Morocco’s economic outlook, hailing the country’s growth and resilience in comments made on the sidelines of the ongoing annual meetings of the World Bank and International Monetary Fund (IMF) in Marrakech.

For Wunsch, Morocco holds a “significant position” on the international stage thanks to its geopolitical status as a crossroads country standing between the North and the South, as well as between Africa and Europe.

The NBB governor also recalled Morocco’s political stability, stressing that these factors contributed to making the country increasingly integrated in the global economy.

Zunsch also recalled the country’s key sectors, including automotive, tourism, agriculture, as well as other industries, stressing that the diversification of activities has been crucial in supporting consistent growth in recent decades.

The world is changing amid the emergence of new challenges, including climate change that require governments to come up with profound reforms, the NBB governor argued.

Recalling the devastating earthquake that struck Central Morocco on September 8, Wunsch highlighted the “extreme solidarity” and “strong resilience” the country showcased in coming to terms with the disastrous aftermath of the quake.

He also commented on the recent IMF decision to approve the $1.3 billion loan to assist Morocco in financing infrastructure investments and support its ambitious goal of transitioning to a net-zero emissions economy by 2050.

Last month, the IMF announced the approval of a Resilience and Sustainability Facility loan for Morocco, stressing that the budget aims to help the country address climate vulnerabilities.

In a press release, the IMF noted hat the loan would also help Moroccan authorities strengthen preparedness for natural catastrophes and stimulate financing for sustainable development.”
The IMF has repeatedly hailed Morocco’s economic resilience since the IMF-World Bank Group annual meetings kicked off in Marrakech on Monday, notably drawing attention to the country’s effective management of the September 8 disaster and its promising growth prospects.