Serrari Group

The IMF’s annual meeting with the World Bank in Marrakech unveiled substantial financial commitments and discussed the ever-pressing issue of debt sustainability.

At the heart of the announcement was the revelation by the director of the IMF’s Middle East and Central Asia Department, who highlighted the institution’s rapid response to the challenges faced by countries in an increasingly unstable world. Between 2020 and today, the IMF has channeled approximately $80 billion through various programs, emergency financing, and SDR allocations. Notably, six countries have recently secured support through the newly launched Resilience and Sustainability Facility, including Morocco, the host of this year’s meetings.

In a significant shift, the annual meetings have returned to the African continent after a 50-year absence, emphasizing the growing significance of the region in the global economic landscape.

One pressing concern at this year’s summit is debt sustainability, given the persistent issue of high inflation. The IMF’s latest Global Financial Stability Report underscores that central banks may need to maintain higher interest rates, potentially affecting borrowers’ ability to service their debts.

The IMF’s Africa: Special Issue, released on the same occasion, draws attention to the persistent challenges of debt vulnerability and lackluster medium-term growth rates.

Regarding discussions about debt cancellation, Abebe Aemro Selassie, director of the IMF’s Africa Department, expressed his reservations, emphasizing the complexity of the issue. He cautioned against the idea of a one-size-fits-all solution, stating that a country-specific approach is essential, especially considering that a significant portion of debt in the Sub-Saharan African region is domestic debt.

Amid the official meetings of the World Bank Group and the International Monetary Fund, global activists advocating for debt abolition have mobilized. Their counter-summit seeks to provide an alternative perspective and balance to the discussions taking place among financial elites and government officials at the IMF-WBG summit.

The ongoing deliberations in Marrakech are expected to shape the future of financial support and debt relief strategies, with a particular focus on tailoring solutions to the unique needs of individual countries.

Photo Source: MWN

By: Montel Kamau
Serrari Financial Analyst
11th October, 2023

Share this article:
Article and News Disclaimer

The information provided on is for general informational purposes only. While we strive to keep the information up to date and accurate, we make no representations or warranties of any kind, express or implied, about the completeness, accuracy, reliability, suitability, or availability with respect to the website or the information, products, services, or related graphics contained on the website for any purpose. Any reliance you place on such information is therefore strictly at your own risk. is not responsible for any errors or omissions, or for the results obtained from the use of this information. All information on the website is provided on an "as-is" basis, with no guarantee of completeness, accuracy, timeliness, or of the results obtained from the use of this information, and without warranty of any kind, express or implied, including but not limited to warranties of performance, merchantability, and fitness for a particular purpose.

In no event will be liable to you or anyone else for any decision made or action taken in reliance on the information provided on the website or for any consequential, special, or similar damages, even if advised of the possibility of such damages.

The articles, news, and information presented on reflect the opinions of the respective authors and contributors and do not necessarily represent the views of the website or its management. Any views or opinions expressed are solely those of the individual authors and do not represent the website's views or opinions as a whole.

The content on may include links to external websites, which are provided for convenience and informational purposes only. We have no control over the nature, content, and availability of those sites. The inclusion of any links does not necessarily imply a recommendation or endorsement of the views expressed within them.

Every effort is made to keep the website up and running smoothly. However, takes no responsibility for, and will not be liable for, the website being temporarily unavailable due to technical issues beyond our control.

Please note that laws, regulations, and information can change rapidly, and we advise you to conduct further research and seek professional advice when necessary.

By using, you agree to this disclaimer and its terms. If you do not agree with this disclaimer, please do not use the website., reserves the right to update, modify, or remove any part of this disclaimer without prior notice. It is your responsibility to review this disclaimer periodically for changes.

Serrari Group 2023