Morocco wants IMF-World Bank meetings to proceed despite quake

Rescuers search for survivors under the rubble of a collapsed house in Moulay Brahim, Al Haouz province, on September 9, 2023, after an earthquake. (AFP)
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Updated 12 September 2023
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Morocco wants IMF-World Bank meetings to proceed despite quake

  • The IMF and World Bank annual meetings are expected to draw well over 10,000 people to Marrakech, from the delegations of their 190 member states to media, non-profit and civil society groups, requiring elaborate security and travel arrangements

WASHINGTON: The Moroccan government wants to proceed with International Monetary Fund-World Bank annual meetings scheduled for October in Marrakech despite Friday’s devastating earthquake, two sources familiar with the meeting planning said on Monday.
“From the viewpoint of the Moroccan authorities, the annual meetings of the IMF and World Bank will take place as scheduled: October 9-15, 2023. There is no change of plan as of now,” one of the people, a source close to the Moroccan government, told Reuters.
The people were not authorized to speak publicly on the matter and spoke on condition of anonymity.
The IMF and World Bank declined to comment on Morocco’s position on the meetings, referring Reuters to a joint weekend statement with India, France, the European Union and the African Union that expressed condolences for the loss of life and damage and spoke of “our willingness to support Morocco in the best possible way,” including addressing urgent short-term financial needs.
Both institutions had said their immediate focus was on the initial response to the disaster.
The death toll from the 6.8 magnitude quake that struck in the High Atlas Mountains, 45 miles (72 kilometers) southwest of Marrakech reached nearly 2,900 on Monday, with over 2,500 injured.
The collapse of the traditional mud brick houses into earthen rubble in the hardest-hit areas has made the search for survivors particularly difficult.
Marrakech suffered some damage in its ancient city center, but more modern parts of the city have largely escaped damage. The site for the IMF and World Bank meetings, a campus of temporary structures on the city’s outskirts near the airport, is largely intact, and preparation work is continuing, one of the sources said.
Bloomberg had earlier reported that Moroccan officials were expecting the meetings to proceed.
The IMF and World Bank annual meetings are expected to draw well over 10,000 people to Marrakech, from the delegations of their 190 member states to media, non-profit and civil society groups, requiring elaborate security and travel arrangements.
The meetings in Marrakech were originally scheduled for 2021, but were postponed twice due to the COVID-19 pandemic.
The IMF and World Bank every three years hold their annual meetings in a developing economy that has shown strong economic policies and governance, to be held up as an example for other countries to follow, including Indonesia in 2018 and Peru in 2015.
In October 2018, the IMF and World Bank proceeded with their annual meetings on the Indonesian resort island of Bali, with more than 11,000 participants, just two weeks after a 7.5-magnitude earthquake and tsunami struck Sulawesi, killing more than 4,300 people.
The Indonesian island of Lombok, just east of Bali, had also suffered more than 500 deaths in a series of quakes in July and August 2018. Both disasters left tens of thousands of people homeless.
Then-IMF Managing Director Christine Lagarde visited disaster recovery areas in Lombok, while Kristalina Georgieva, who was World Bank chief executive officer at the time and later succeeded Lagarde as the head of the IMF, visited devastated Palu in central Sulawesi.
At the time, Lagarde said: “Canceling the meetings was not an option because that would be a tremendous waste of the resources that had been committed over the last three years and lose the great opportunity to showcase Indonesia to the world and to create opportunities and jobs.”

 


UN Security Council to meet on Iran as Russia, China and Pakistan push for ceasefire

Updated 7 sec ago
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UN Security Council to meet on Iran as Russia, China and Pakistan push for ceasefire

  • Russia, China and Pakistan circulated a draft resolution text and asked members to share comments by Monday evening
  • A resolution needs at least nine votes in favor and no vetoes by the US, France, Britain, Russia or China to pass

UNITED NATIONS: The UN Security Council will meet Sunday to discuss US strikes on Iran’s nuclear sites as Russia, China and Pakistan proposed the 15-member body adopt a resolution calling for an immediate and unconditional ceasefire in the Middle East.

It was not immediately clear when it could be put to a vote. The three countries circulated the draft text, said diplomats, and asked members to share their comments by Monday evening. A resolution needs at least nine votes in favor and no vetoes by the United States, France, Britain, Russia or China to pass.

The US is likely to oppose the draft resolution, seen by Reuters, which also condemns attacks on Iran’s nuclear sites and facilities. The text does not name the United States or Israel.

The world awaited Iran’s response on Sunday after President Donald Trump said the US had “obliterated” Tehran’s key nuclear sites, joining Israel in the biggest Western military action against the Islamic Republic since its 1979 revolution.

Iran requested the UN Security Council meeting, calling on the 15-member body “to address this blatant and unlawful act of aggression, to condemn it in the strongest possible terms.”

Israel’s UN Ambassador Danny Danon said in a statement on Sunday that the US and Israel “do not deserve any condemnation, but rather an expression of appreciation and gratitude for making the world a safer place.”

UN Secretary-General Antonio Guterres on Saturday branded the US strikes on Iran as a “dangerous escalation in a region already on the edge – and a direct threat to international peace and security.”

“At this perilous hour, it is critical to avoid a spiral of chaos. There is no military solution. The only path forward is diplomacy. The only hope is peace,” Guterres said in a statement.


Jordanian king chairs security meeting, affirms national unity amid regional tensions

Updated 17 min 2 sec ago
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Jordanian king chairs security meeting, affirms national unity amid regional tensions

  • King Abdullah II said that Jordan will not permit any party to exploit regional tensions to undermine the country’s firm stance on key Arab issues
  • The Iran-Israel conflict has escalated following US strikes on Sunday, as Tel Aviv and Tehran exchanged attacks for the 10th day

LONDON: King Abdullah II of Jordan chaired a meeting on Sunday with officials and security agencies to emphasize national unity in the face of regional developments.

King Abdullah urged government institutions to tackle the economic effects of escalating tensions in the Middle East during the meeting at Al-Husseiniya Palace in Amman.

He said that Jordan will not permit any party to exploit regional tensions to undermine the country’s firm stance on key Arab issues. He said that Amman is committed to achieving a ceasefire in the Gaza Strip and the establishment of a Palestinian state, the Petra news agency reported.

He called for increased international efforts to achieve lasting peace in the region and to de-escalate tensions through diplomatic dialogue and negotiations, Petra added.

The Iran-Israel conflict has escalated following US strikes on three nuclear sites inside Iran on Sunday morning. Tel Aviv and Tehran have exchanged attacks over the past 10 days, risking a full-scale war in the Middle East.

The meeting was attended by several key figures, including Prime Minister Jafar Hassan, Foreign Minister Ayman Safadi, Speaker of the House of Representatives Ahmad Safadi, Chairman of the Joint Chiefs of Staff Maj. Gen. Yousef Huneiti, General Intelligence Department Director Maj. Gen. Ahmad Husni, and Public Security Directorate Director Maj. Gen. Obaidallah Maaytah.


Blast rocks church in Syria’s Damascus, witnesses say

Updated 22 min 44 sec ago
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Blast rocks church in Syria’s Damascus, witnesses say

DAMASCUS: A blast rocked the Mar Elias Church in the Dweila neighborhood of Syria’s capital Damascus on Sunday, according to witnesses.
One told Reuters a suicide bomber detonated himself inside the church. A spokesperson for Damascus security forces did not immediately respond to a request for comment.


Israeli authorities arrest four Al-Aqsa guards, storm old prayer hall

Updated 22 June 2025
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Israeli authorities arrest four Al-Aqsa guards, storm old prayer hall

  • Israeli forces storm prayer hall beneath the Qibli Mosque, damaging its contents
  • Jerusalem Governorate says action is part of efforts to assert control over the mosque’s administration and undermine the Waqf authority

LONDON: Israeli authorities arrested four guards at the Al-Aqsa Mosque during a search raid on Saturday night inside the compound’s old prayer hall.

The Jerusalem Governorate, affiliated with the Palestinian Authority, said that the detainees were identified as Mohammad Arbash, Ramzi Al-Zaanin, Basem Abu Juma, and Iyad Odeh. Several other guards and a firefighter in the compound were interrogated at the site by Israelis, the Wafa news agency reported.

Just after midnight on Saturday, Israeli forces stormed the old prayer hall at Al-Aqsa, a subterranean area beneath the Qibli Mosque, damaging its contents after breaking into storage cabinets and searching the premises, Wafa added.

The governorate said the latest Israeli action was part of efforts to assert control over the mosque’s administration and undermine the authority of the Islamic Waqf Department in Jerusalem.

After less than a week of complete closure under a state of emergency linked to the ongoing war with Iran, the Al-Aqsa Mosque was reopened by Israeli authorities, allowing Palestinian and other Muslim worshippers to enter the site under strict regulations, Wafa reported.


Palestinian Authority considers phasing out shekel as Israeli banks refuse to accept surplus

Updated 22 June 2025
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Palestinian Authority considers phasing out shekel as Israeli banks refuse to accept surplus

  • Israeli banks’ refusal to accept the transfer of surplus shekels means fewer foreign currencies that are necessary for commerce and business
  • Israel’s finance minister in June ended a waiver that allowed Israeli banks to engage with Palestinian ones without being scrutinized for money laundering and financing extremism

LONDON: The Palestinian Authority is considering replacing the Israeli shekel as the primary currency in circulation due to its increasing accumulation in the banks.

The Palestine Monetary Authority announced on Sunday that it has taken significant steps to address the growing accumulation of shekels in Palestinian banks after Israeli banks’ continuing refusal to accept the transfer of surplus shekels in exchange for foreign currencies necessary for commerce and business.

The PMA is considering alternative options, including a shift away from using the shekel as the primary currency in circulation, the Wafa news agency reported.

In early June, Israeli Finance Minister Bezalel Smotrich ended a waiver that allowed Israeli banks to engage with Palestinian banks without being scrutinized for money laundering and financing extremism.

Smotrich, who has been outspoken about weakening the Palestinian Authority and opposes the establishment of a Palestinian state, made this decision shortly after being sanctioned by the UK and four European countries for inciting violence in the occupied West Bank.

The PMA said it aims to create a more resilient and sustainable digital economy in Palestine and has consulted various economic sectors and the Union of Chambers of Commerce, Industry, and Agriculture before it makes a final decision. Alongside phasing out the Israeli shekel, the PMA studied digital payment strategies to avoid shekel accumulation in Palestinian banks, Wafa reported.