2024-06-24 13:46:36
“Due to its geopolitical location on the crossroads between the north and the south, between Africa and Europe and its political stability, Morocco occupies a figuring out place on the worldwide scene,” indicated Mr. Wunsch in an interview at MAP.
This function “has solely progressed over latest a long time, making Morocco a rustic more and more built-in into the worldwide financial system having succeeded in growing key sectors resembling vehicles, tourism, agriculture or nonetheless the extractive trade,” he famous, including that this diversification of actions has been essential in steadily supporting development in latest a long time.
“Nonetheless, the world is altering shortly and new challenges are rising, together with local weather change which represents an unlimited problem requiring profound reforms,” famous the official, welcoming on this regard the 1.2 billion euros program granted by the IMF to assist the Kingdom “finance infrastructure investments and help its formidable purpose of transitioning to a net-zero emissions financial system by 2050”.
Moreover, he confused that Morocco confirmed “excessive solidarity and powerful resilience” in managing the repercussions of the Al Haouz earthquake.
Mr. Wunsch additionally welcomed the return of this occasion in Africa 50 years after Nairobi in 1973. “Each the WB and the IMF are very energetic on this continent, it’s important and legit for the Bretton Woods establishments to return in Africa and Morocco to reaffirm their dedication to African nationwide authorities in assembly present challenges.”
Specifically, the IMF has a “central function” to play in Africa in three most important areas that are on the coronary heart of its mandate, specifically surveillance, for which the establishment should proceed to adapt its suggestions and analyzes to the totally different nationwide conditions encountered throughout the continent with a view to sustaining stability and strengthening development prospects, he stated.
Moreover, within the occasion of a disaster (inner or exterior), IMF loans provide the nations involved a respiration house, as a way to assist them overcome their stability of funds or implement insurance policies geared toward guaranteeing resilience and sustainability. extra sustainable, added Mr. Wunsch.
“Lastly, it must be famous that implementing IMF suggestions just isn’t at all times simple and that is the place the third pillar of the IMF proves essential, with capability growth and the supply of technical help and coaching,” he continued.
2024-06-24 13:46:36