The annual meetings of the Boards of Governors of the World Bank Group (WB) and the International Monetary Fund (IMF) will be held in Marrakech (Morocco) from October 9 to 15, with the participation of the governor of the Central Bank of Tunisia (BCT), Marouane Abassi, and Minister of the Economy and Planning, Samir Saied. These meetings, which are taking place half a century after the last editions were held in Africa in Nairobi in 1973, could change the pattern of international financing in favour of developing countries in an international context characterised by successive crises and indebtedness threatening international economic stability. The meetings, which will bring together finance ministers, central bank governors, representatives of civil society organisations and academic experts from 190 countries, will provide an opportunity to discuss issues related to international development challenges. The event will also feature a series of seminars, regional briefings, press conferences and other events on the global economy, international development and the international financial system. IMF Managing Director Kristalina Georgieva has estimated that the cumulative global output loss due to the consecutive shocks from 2020 until 2023 amounts to $3.7 trillion. This loss is unevenly distributed across countries, Georgieva said, pointing out that "the United States is the only major economy where production has returned to pre-pandemic levels. The rest of the world still lags behind the trend, with low-income countries being the most affected.' The annual meetings are usually held in Washington in September or October, and every three years in a different member country. Several bodies meet in conjunction with the meetings, including the Development Committee, the International Monetary and Financial Committee (IMFC), the Group of Ten and the Group of Twenty-Four. The Development Committee and the IMFC, as well as several other groups, issue statements at the end of their meetings. The Boards of Governors take decisions on how to deal with current international monetary issues and adopt the relevant resolutions.
Source: Agence Tunis Afrique Presse