"The WB/IMF Annual Meetings, whose current edition is taking place in Marrakech, are the most significant financial and economic event held every three years outside of Washington D.C.," Azour stated in a statement to MAP.

"It is an important showcase to demonstrate what Morocco is capable of," noted the former Lebanese Minister of Economy and Finance, highlighting that Marrakech is "the ideal location for hosting this global-scale event."

"It is a crossroads of civilizations, a city with a wealth of talent and innovation, but also a resilient city that, after a major crisis a few weeks ago, managed to bounce back," said the international financial official, referring to the earthquake that occurred on September 8th, with its epicenter located near the city.

Azour also pointed out that the significance of the meetings in Marrakech is explained by the magnitude of current global issues, including economic fragmentation and the fight against inflation.

"These meetings are also important because they return to Africa for the second time in 50 years and to the Arab world for the first time in 20 years," he continued.

He recalled that the preparations for holding this event in Morocco began three years ago thanks to a highly successful partnership between the IMF and Moroccan authorities, praising Morocco's "excellent organization" and its known capacity for hosting.

He also highlighted that the convening of this major event in Marrakech is an opportunity for the two Bretton Woods institutions to highlight "the model of an expanding and reforming economy, which is the Moroccan economy."

These economic reforms were well advanced and earned Morocco the support of the IMF through a new financial line to strengthen its resilience, and more recently with a new $1.3 billion line for investments in climate resilience, in addition to the $5 billion that the Kingdom received a few years ago, noted the head of the IMF's Middle East and Central Asia department.