HM the King: Convening of WB/IMF Annual Meetings in Morocco Testifies to the Kingdom’s Commitment to Stronger International Relations

The Convening of the Annual Meetings of the World Bank (WB) and the International Monetary Fund (IMF) Annual Meetings in Morocco testifies to the Kingdom’s commitment to stronger international relations, said HM King Mohammed VI.

« For me, the convening of your Annual Meetings in Morocco is the result of a longstanding partnership with the Bretton Woods institutions, » stressed the Sovereign in a Message addressed to participants at the WB/IMF Annual Meetings, being held from October 09 to 15 in Marrakech, noting that it is « a sign of confidence in the robustness of our institutional framework, our infrastructure and our commitment to stronger international relations. »

HM the King also pointed out in the Message, read out by Omar Kabbaj, Advisor to His Majesty the King, that Morocco’s approach focuses on economic openness and cooperation, stressing that this approach has enabled the Kingdom to be committed to the different agendas of the international community, whether they concern economic development, the fight against climate change, combating terrorism and money laundering, or addressing the growing cyber security threat brought about by the digital revolution.

At the domestic level, HM the King recalled that, since the early 2000s, major social and economic reforms have been implemented in Morocco as well as a large-scale infrastructure program, while, concurrently with this, making sure to preserve macroeconomic balance « because we consider that this guarantees economic sovereignty and resilience. »

« Ours is a balanced approach in which our economic policy serves human development. I have made the latter a foremost priority since I ascended the throne, and this policy has been reinforced since the Covid-19 pandemic,” insisted the Sovereign, noting that “I have launched an unprecedented project to achieve universal access to social protection. »

The benefits of this policy are already tangible, pointed out HM the King, underlining that the national economy has shown remarkable resilience in a complex, uncertain global environment marked by a succession of inconceivable shocks in recent years.

Morocco has also strengthened its position as a haven of peace, security and stability, as a credible partner and as a regional and continental economic and financial hub, added the Sovereign.

Highlighting Morocco’s assets, the Sovereign said that they include the Kingdom’s history – which goes back thousands of years – and its status as a land of peace, of cultural cross-fertilization and of coexistence between different faiths and cultures, not to mention a geographical position at the crossroads of Africa, the Middle East and Europe.

On this occasion, the Sovereign said He is delighted to see this prestigious forum back here on the African Continent, half a century later, and in the MENA region, 20 years after the Annual Meetings held in Dubai, in 2003.

« It gives me great pleasure to welcome you to Morocco and to Marrakech, this time-honored city, which has a rich history and a distinctive cultural heritage,” wrote His Majesty the King.

Because of this special status, the Sovereign noted: “Marrakesh is not just a world-class tourist destination; it has also been the venue for major international events, some of which have shaped our modern history,” citing as examples the GATT Summit, held here in 1994 – which saw the birth of the World Trade Organization – and more recently, the COP22, in 2016.

HM the King also paid tribute to the friendship and confidence “you have shown by attending these Annual Meetings in Marrakech, shortly after the devastating earthquake which struck my country,” wishing also “to thank the states and institutions which expressed their readiness to assist Morocco, particularly in the reconstruction phase.”