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Officials Push for International Business Meeting to Happen in Morocco

The International Monetary Fund and World Bank will decide on Monday whether to proceed with Oct. 9-15 annual meetings in earthquake-hit Morocco after completing a “thorough review” of the country’s ability to host the meetings, IMF Managing Director Kristalina Georgieva told Reuters. Georgieva also said in an exclusive interview that the IMF has reached a staff-level agreement with Morocco to provide a $1.3 billion loan to bolster the country’s resilience to climate-related disasters from the Fund’s new Resilience and Sustainability Trust. Questions have swirled over whether the IMF and World Bank would still hold their annual meetings in Morocco’s tourist hub of Marrakech since a devastating, 6.8-magnitude earthquake struck in the High Atlas Mountains, killing more than 2,900 people. Marrakech, 72 km from the quake’s epicenter, suffered some damage in its ancient Medina quarter, but Moroccan officials have pressed the IMF and World Bank to proceed with the gathering, which would bring some 10,000-15,000 to the city.