In this document, known as "The Marrakech Principles for Global Cooperation", WB President Ajay Banga, IMF Managing Director Kristalina Georgieva, Economy and Finance Minister Nadia Fettah and Bank Al-Maghrib's (Central Bank/BAM) Wali Abdellatif Jouahri outline "a general framework for leveraging multilateralism for the benefit of all".

The first principle is to "revitalize inclusive and sustainable growth", by promoting growth-enhancing structural reforms, diversifying sources of financing and combating fragility.

Second principle: "build resilience", by developing institutional capacities, maintaining external stability, strengthening public debt management and resolution frameworks, improving global crisis preparedness and mitigation, and decoupling growth and climate risks.

It also calls for "supporting transformative reforms", by accelerating the green transition, supporting technological transformation, improving health systems and their readiness, promoting equitable quality education and contributing to gender equality.

As for the fourth principle: "strengthening and modernizing global cooperation", this involves strengthening the international monetary system, the multilateral trading system and collaboration between the WB, the IMF and partner countries.

"As the international community gathers in Marrakech, we must stand united to protect our future prosperity and put an end to extreme poverty," emphasize the four signatories.

They observe that medium-term global growth prospects are currently at their lowest level in decades. The adverse effects of successive crises are becoming increasingly apparent, just when many countries are grappling with high inflation, extensive indebtedness, and substantial financing gaps for delivering essential services, supporting infrastructure and climate action, as well as reducing poverty, inequality, and growing fragility.

Morocco and the Bretton Woods institutions acknowledge that "the world today faces heightened exposure to shocks, and the growing threats to growth, development, employment, and living standards are likely to exacerbate inequalities, both between countries and at the national level."

They emphasize that "emerging and developing countries have been particularly hard-hit. The income gap with advanced countries has further widened, and the world is not on track to eliminate extreme poverty by 2030."

"Our comprehension of the key risks and disruptive forces affecting the global economy has evolved: the existential threat posed by climate change, growing disparities in income and opportunity, and geopolitical tensions are becoming more pronounced," note the four signatory parties.

"The speed of the digital transition and technological transformations is presenting new challenges, but also opportunities," they assert, while emphasizing that "no country should be left behind."

"Marrakech 2023 represents a call for strengthened global collaborative action in the face of the challenges that confront us all, with the aim of building resilience and creating greater opportunities for a better future," they affirm.