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Key takeaways from the IMF/World Bank meetings
  + stars: | 2023-10-14 | by ( ) www.reuters.com   time to read: +5 min
Global inflation is seen dropping from 6.9% this year to a still-high 5.8% next. Italian central bank governor Ignazio Visco said there was an impression markets were "reevaluating the term premium" as investors become more nervous about holding longer term debt. One debt restructuring deal emerged: Zambia finally agreed a debt rework memorandum of understanding with creditors including China and France. Sri Lanka said on Thursday it reached an agreement with the Export-Import Bank of China covering about $4.2 billion of debt, while talks with other official creditors are stalling. There was much talk ahead of Marrakech on revamping the IMF and World Bank to better reflect the emergence of economies like China and Brazil.
Persons: Ajay Banga, Mercy Tembon, Finance Serhiy Marchenko, Ceda Ogada, Kristalina Georgieva, Pierre, Olivier Gourinchas, Ignazio Visco, Joyce Chang, Vitor Gaspar, Mehmet Simsek, Murat Ulgen, Kate Donald, Ahmed El Jechtimi, Andrea Shalal, David Lawder, Leika Kihara, Elisa Martinuzzi, Rachel Savage, Jorgelina, Rosario, Balazs Koranyi, Mark John, Christina Fincher Organizations: Bank, Finance, International Monetary Fund, Emerging, Research, HSBC, Reuters, Export, Import Bank of, World Bank, Oxfam International's Washington DC Office, Thomson Locations: Ukraine, MARRAKECH, Morocco, Moroccan, Marrakech, Israel, Central, United States, China, Italy, Italian, Turkey, Kenya, Zambia, France, Sri Lanka, Import Bank of China, Brazil, U.S
Key takeaways from the IMF-World Bank meetings
  + stars: | 2023-10-14 | by ( ) www.cnbc.com   time to read: +4 min
U.S. Secretary of Treasury Janet Yellen arrives for a bilateral meeting on the third day of the International Monetary Fund and World Bank annual meeting, in Marrakech, Morocco, October 11, 2023. Susana Vera | ReutersOvershadowed by fresh Middle East violence and hosted by a country still recovering from an earthquake, the week-long annual meetings of the International Monetary Fund and World Bank wrapped up on Saturday. Global inflation is seen dropping from 6.9% this year to a still-high 5.8% next. Italian central bank governor Ignazio Visco said there was an impression markets were "reevaluating the term premium" as investors become more nervous about holding longer-term debt. One debt restructuring deal emerged: Zambia finally agreed a debt rework memorandum of understanding with creditors including China and France.
Persons: Janet Yellen, Susana Vera, Pierre, Olivier Gourinchas, Italy —, Ignazio Visco, Joyce Chang, Vitor Gaspar, Mehmet Simsek, Murat Ulgen Organizations: International Monetary Fund, Bank, Reuters, Emerging, Research, HSBC, Export, Import Bank of Locations: Marrakech, Morocco, Moroccan, Israel, Central, United States, China, Italy, Italian, Turkey, Kenya, Zambia, France, Sri Lanka, Import Bank of China
Attacks in France in recent years
  + stars: | 2023-10-13 | by ( ) www.reuters.com   time to read: +4 min
Here are some other attacks that have taken place in France in recent years:- June 9, 2023 - A Syrian national wounded four children and two pensioners in a knife attack in the Alpine town of Annecy. - Oct. 29, 2020 - An attacker with a knife killed three people and wounded several others at a church in the southern city of Nice. - March 23, 2018 - A gunman killed three people in southwestern France after holding up a car, firing on police and taking hostages in a supermarket. - July 26, 2016 - Two attackers killed a priest and seriously wounded another hostage in a church in northern France before being shot dead by police. - Nov. 13, 2015 - Paris was rocked by multiple gun and bomb attacks on entertainment sites around the city, in which 130 people were killed and 368 wounded.
Persons: Lycee Gambetta, Carnot, Pascal Rossignol, Emmanuel Macron, Samuel Paty, Prophet Mohammad, Charlie Hebdo, Mickael Harpon, Francois Hollande, Frenchman, Charlie Hebdo’s, Michel Rose, Frances Kerry Organizations: Lycee, REUTERS, Rights, Syrian, Police, Paris police, Security, Islamic, Islamic State, Belgian, Thomson Locations: Arras, France, Alpine, Annecy, Reims, Nord, Paris, Kurdish, Nice, Pakistan, Islamic State, Tunisian, State
Japanese Finance Minister Shunichi Suzuki speaks during the presidency press conference at the G7 meeting of finance ministers and central bank governors, at Toki Messe in Niigata, Japan, Saturday, May 13, 2023. Shuji Kajiyama/Pool via REUTERS/File Photo Acquire Licensing RightsTOKYO, Oct 10 (Reuters) - Japan will chair a meeting of finance ministers and central bank governors from the Group of Seven (G7) advanced nations on Oct. 12 to discuss the war in Ukraine and the world economy, Finance Minister Shunichi Suzuki said on Tuesday. The G7 meeting will be part of a broader Group of 20 gathering, Suzuki told reporters that will be held on the sidelines of the annual International Monetary Fund conference in the Moroccan city of Marrakech. The G7 meeting will also include roundtable talks with African nations to facilitate flows of private-sector funds to the continent, Suzuki said. Reporting by Tetsushi Kajimoto; Editing by Christian Schmollinger and Miral FahmyOur Standards: The Thomson Reuters Trust Principles.
Persons: Shunichi Suzuki, Shuji, Suzuki, Kazuo Ueda, Tetsushi Kajimoto, Christian Schmollinger Organizations: Toki, Rights, Finance, International Monetary Fund, Marrakech . Bank of Japan, Thomson Locations: Niigata, Japan, Ukraine, Moroccan, Marrakech
Now, after a record-breaking year, almost everyone in world soccer is aware of Lamine Yamal. In April, at 15 years and 290 days, he became the youngest player to appear in a competitive fixture for the Blaugrana. When his star started to shine, questions were asked about which national team he would choose to represent. Unhelpful comparisonsDealing with such praise and adulation could be tricky for Yamal as he navigates the world of professional soccer. Yamal joined the Barcelona youth ranks at the age of seven, according to FIFA.
Persons: It’s, Yamal, Felipe Mondino, Luis de la Fuente, , De la Fuente, , Lionel Messi, Diego Maradona, Barcelona’s, Fati, David Ramos, Pedri, Xavi, ” Xavi, Messi, Ballon Organizations: CNN, Champions League, Borussia Dortmund’s Youssoufa, Spanish national, Georgia, La Liga, Granada, Barcelona, Spanish, Premier League, Brighton, FIFA, ESPN Locations: Barcelona, Spain, Moroccan, Equatorial Guinea, Nou
By David LawderMARRAKECH, Morocco (Reuters) - U.S. Treasury Secretary Janet Yellen on Tuesday said her government, the International Monetary Fund (IMF)and the World Bank would support Morocco's earthquake rebuilding efforts, praising the country's resilience in hosting the institutions' annual meetings this week. "We stand ready to help in any way that is helpful as you go about the rebuilding process," Yellen told reporters in Marrakech, reading handwritten remarks. She did not specify what assistance would be offered but added that support for Morocco would be discussed at the IMF and World Bank meetings in Marrakech. Yellen toured the Bin Youssef high school in Marrakech, which was quick to take on students displaced from damaged schools in villages hit by the Sept. 8 earthquake. Morocco also has a $5 billion IMF flexible credit line that it can draw on.
Persons: David Lawder, Janet Yellen, Yellen, Youssef, Deborah Kyvrikosaios Organizations: . Treasury, International Monetary Fund, World Bank, IMF, Sustainability Trust Locations: David Lawder MARRAKECH, Morocco, Marrakech, Moroccan
IMF-World Bank meeting: Old problems and new headwinds
  + stars: | 2023-10-07 | by ( ) www.reuters.com   time to read: +1 min
The IMF-World Bank annual meeting takes place in Marrakech just weeks after a deadly Moroccan earthquake. The setting is apt for emerging markets and defaulting countries that are struggling with headwinds from all sides. Visit the Thomson Reuters Privacy Statement for information on our privacy and data protection practices. Further readingIMF-World Bank meetings: Which developing countries face debt crisis? In Libya's devastated Derna, families still search for the missingMarrakech prepares for IMF and World Bank meeting a month after deadly quakeYellen heads to Morocco IMF-World Bank meetings in shadow of US political chaosEmerging economies face China and rate pressures as IMF, World Bank meetEgypt's cratering economy drives many to risky migrant routeOur Standards: The Thomson Reuters Trust Principles.
Organizations: Apple, Google, Reuters, IMF, Bank, Thomson, World Bank, Morocco IMF, Egypt's Locations: Marrakech, Argentina, Derna, Morocco, China
CNN —Morocco and Algeria have introduced measures to limit the risk of bedbug infestation, as France reportedly grapples with a surge in numbers of the blood-sucking insect. The Moroccan health ministry “has taken all appropriate measures to limit the risk of introduction and spread of this insect on the national territory,” Moroccan state news agency MAP reported on Wednesday. The ministry is reinforcing “health surveillance” at borders and is monitoring the health and environmental situation in “bedbug-affected areas,” MAP said. It has also made a series of recommendations relating to international travel for citizens, MAP added. The Algerian health ministry has also decided to implement health regulations and monitoring centers at its borders.
Persons: , bedbugs, Clément Beaune, Organizations: CNN —, MAP, Transport, Clément, CNN, bedbugs, National Institute for Locations: CNN — Morocco, Algeria, France, Moroccan, , Morocco, Algerian
[1/5] European Commission President Ursula von der Leyen attends the informal meeting of European heads of state or government, in Granada, Spain October 6, 2023. On Thursday night, Von der Leyen was visiting Granada's famed Alhambra Palace and fortress - built by the city's Muslim rulers in the 13th century - when she complemented guide Sumaya Abdelbi on her silk scarf. Abdelbi, who was born in Germany and is of Moroccan origin, briefed Von de Leyen and her husband on the palace. "I told her that she was now also part of the history of the Alhambra and she was very impressed," Abdelbi told Reuters. As Von der Leyen was leaving the event, Abdelbi saw her again and shouted: "I want to give you my scarf!".
Persons: Ursula von der Leyen, Juan Medina, Ursula Von der Leyen, Von der Leyen, Granada's, Von de Leyen, Abdelbi, Belén Carreño, Andrei Khalip Organizations: European, REUTERS, Rights, European Union, Alhambra, Reuters, EU, Thomson Locations: Granada, Spain, Rights GRANADA, Spanish, Alhambra, Germany
The joint bid from Morocco, Portugal and Spain was the sole candidate to host the tournament. Spain have been awarded the World Cup weeks after their disgraced former chief Luis Rubiales was forced to step down for alleged sexual assault at the Women's World Cup. "As a result, a celebration will take place in South America and three South American countries - Uruguay, Argentina and Paraguay - will organise one match each of the FIFA World Cup 2030." WORLD CUP RETURNS TO SPAINWhile Portugal and Morocco have never hosted the World Cup, Spain last hosted the tournament in 1982. "I am sure that together with Morocco and Portugal we will organise the best World Cup in history," he said.
Persons: Lionel Messi, Carl Recine, Luis Rubiales, Gianni Infantino, Infantino, Robert Harrison, Pedro Rocha, Fernando Gomes, King Mohammed VI, FIFA's, Rohith Nair, Daniela Desantis, Osama Khairy, Emma Pinedo Gonzalez, William Maclean Organizations: Soccer Football, FIFA World, Qatar, Lusail, REUTERS, Uruguay, FIFA, Argentine Football Association, FIFA Council, Montevideo's Estadio Centenario, Paraguayan Football Association, South, Management, Royal Spanish Football Federation, Portuguese Football Federation, Christian, Thomson Locations: Argentina, France, Lusail, Qatar, Morocco, Spain, Portugal, Paraguay, Uruguay, Montevideo, South America, Asia, Oceania, Bengaluru, Asuncion
Newly home to best-selling author, activist and motivational speaker Suleika Jaouad and Grammy-winning musician, singer-songwriter and TV personality Jon Batiste, the 1890s Italianate townhouse in Brooklyn, New York is a potent space for them to live and create. Jon Batiste pictured in the studio lounge of the Brooklyn home he shares with author Suleika Jaouad. “The vision for the house was deeply tied to who Jon and I are as humans — to our creativity and our lineage,” Jaouad wrote. Jaouad recalled Batiste exaggeratedly exclaiming, in reference to a lamp: “Now this light is healing!”“It cracked us up, and we put it on repeat,” she wrote. Fried chicken sandwiches and champagne were served to the small group of guests, while Batiste serenaded Jaouad on a grand piano he rented for the night.
Persons: CNN —, Suleika Jaouad, Jon Batiste, Jaouad, , , Frank Frances, Hallie Goodman, Jon, ” Jaouad, Jaouad’s, Mokhtar Lahmar, Designway, Batiste exaggeratedly, Batiste, Goodman, Organizations: CNN, Architectural, Brooklyn, New, Facebook Locations: Brooklyn , New York, , , Tunisia, New Orleans, Nabeul, French, Quittner
Choppy waters as Europe navigates China-US rivalry
  + stars: | 2023-10-04 | by ( Mark John | ) www.reuters.com   time to read: +6 min
The fracturing of the rules and bonds tying the global economy together - so-called "geo-economic fragmentation" - seemed implausible only a few years ago. Nowhere is it more pressing than for Europe, whose wealth has always relied on trade, from its rapacious colonial history through to its reinvention as self-styled champion of WTO rules. Both the United States and Europe have been hardening their stance towards Beijing while stressing the rules of world trade must be fairly applied. The main EU concern is that the U.S. proposals could break WTO rules by discriminating against third parties. "And we really hope ... that after the election in the United States this is going to continue."
Persons: Jon Nazca, Gordon Brown, Brown, Brad Setser, Biden, Joe Biden, Donald Trump, Trump, Wang Huiyao, Petra Sigmund, Philip Blenkinsop, Joe Cash, Belen Carreno, Mark John, Catherine Evans Organizations: Triple, Majestic, APM, REUTERS, Trade Organization, USA, International Monetary, European, Reuters, for, Thomson Locations: Algeciras, Spain, China, Europe, America, American, United States, Moroccan, Marrakech, Beijing, Washington, Brussels, U.S, EU, for China, IMF, Madrid
Moritz Baier-Lentz, a venture-capital partner, ran the World Marathon Challenge in February. AdvertisementAdvertisement"If it's not extreme, I'm almost not interested," said Moritz Baier-Lentz, a venture-capital partner who ran seven marathons on seven continents in seven consecutive days in February. After completing multiple marathons, Ironman Triathlons, and ultramarathons, Baier-Lentz set his sights on the World Marathon Challenge . The challenge is to complete seven marathons in seven days on seven continents. Even during the seven marathons, he checked and answered emails between races.
Persons: Moritz Baier, Lentz, , Baier, He's, Patrick Renner Organizations: Lightspeed Gaming, Baier, Service, what's Locations: Baier, Antarctica, Africa, Australia, Asia, Europe, South America, North America, Moroccan
John and Fin Kernohan are Airbnb hosts who rent out eight units in their backyard in Georgia. They live in a tiny cabin on the property and built a community around tiny living. The tiny firehouse, tiny houses, yurts, and domes that they rent out range from $99 to $148 a night. They went on to build a tiny firehouse on wheels to take to fundraising events to raise money for firefighters. "What I love most about living in the Beloved Cabin is how simple your life is," she said.
Persons: John, Fin, , Fin Kernohan, wasn't, John Kernohan, They'd, didn't, they'd, Rocco, they've, who's, They're Organizations: Service, Tiny, Tiny House Association, United Tiny, Facebook Locations: Georgia, Miami, London, Lake Oconee, Zillow, Thailand, Moroccan, Atlanta, Vietnam, South Korea
Inside the Elaborate, Enviable Design of Three New York Homes
  + stars: | 2023-09-21 | by ( ) www.nytimes.com   time to read: +34 min
If You Can Make It Here Great design for a great city (New York, of course — where else?) In the oak-paneled living room of Justinian Kfoury’s apartment in a townhouse on Washington Square Park, an Audubon-style print and a Hans Wegner Papa Bear chair. “She was eccentric, grand, but not afraid of making weird decisions about design.” In the living room, a 1975 Leonid Berman painting of the Venice Lagoon hangs between the French doors. A view of the double-height living room from the curved balcony on the third floor. A sculpture by Huma Bhabha and a configuration of five Isamu Noguchi L7 pendants in the landing that separates the primary suite from the living room.
Persons: it’s, Mishan, there’s, , Justinian, Hans Wegner Papa Bear, Paavo, Marc Hundley, that’s, Adriana Lara, Nicholas Krushenick, , Justinian Kfoury, downtowners, He’d, Trish Goff, Kfoury, , Leonid Berman, Jelto ”, Tomma Abts, Paul Cadmus, Edith Wharton, Henry James, Paul van der, ” Kfoury, Joe Roberts, Mary Cameron Goodyear, Kfoury’s, He’s, Wolfgang Tillmans, they’d, It’s, Lorna Simpson, Mario Bellini, Misha Kahn, Michael Anastassiades, Glenn Ligon’s, Frank Bowling, Piet Hein Eek, Miriam Cahn, Paul Pfeiffer’s, Leah Panlilio, Tal Schori, Rustam Mehta, Adam Pogue, Constantino Buccolieri, Michael Kirkland, Alvar Aalto, Cy Twombly’s, Ho, Huma Bhabha, Isamu Noguchi, Nairy Baghramian, Coco Fusco, Robert Vinas Jr, Duro Olowu, Mark Ellison, Adam Marelli, Bob Chan, Isamu Noguchi Akari, Danh Vo, Nairy, , Laura Mac Donald, Theaster Gates, Frank Lloyd, Kirkland, Ettore, Parsons, Jasper Johns, Merce Cunningham, Julianne Moore, Bart Freundlich’s Montauk, Bart Freundlich’s, Moore, Tom Volk, Oliver Freundlich, Anne’s, Pierre Jeanneret, Willy Van Der, Ori Gersht, she’s, ” It’s, Bart Freundlich, Tomas Maier, Bottega, Andrew Geller, Norman Jaffe, Freundlich, ” Moore, Moore’s, Liv, Caleb, Robert Gurr, Pierre, Noguchi, Alma Allen, Joseph Dirand, Oliver, “ I’m, ” Oliver, grins, MOORE, Anne Love Smith, Massimiliano Locatelli, Daniel Romualdez, Vincent Van Duysen, Charlotte Perriand, Pierre Chapo, Willy Van Der Meeren, Friedrich Kunath, Mark Wilson, Donald Judd, Wilson, Karl Springer, Rogan Gregory, Nancy Pearce, Oscar, Alice ”, Alexander Calder, Andrea Zittel, JB Blunk, AFTRA, Hope, ‘ You’re, ’ ” Organizations: Manhattan’s, Yorkers, that’s, Audubon, Washington, East Village, brac, AS, Fifth, Fort Standard, GRT Architects, Architects, Walt Disney Concert Hall, Soane Britain, Hamptons, WHO, Writers Guild of America, SAG, Locations: New York, Paris, London, Rome , New York, It’s, Washington, Manhattan, Harlem, Montauk, American, Chinatown, York, New York’s Washington, Kennebunkport, England, East, Boston, Lebanon, Maine, Vermont, Venice, Moroccan, North, Kfoury’s, New York’s Harlem, Westchester County, N.Y, Brooklyn, Italian, Finnish, Rome, Los Angeles, Korean, Berlin, Iranian, Chicago, North Carolina, California, Summerhill, Long, Fort Pond, New York City, Pond, Morentz, Scottish, Japanese American, Belgian, East Hampton, Japan, , Swiss
Julianne Moore’s Montauk Sanctuary
  + stars: | 2023-09-21 | by ( Nick Haramis | ) www.nytimes.com   time to read: +34 min
— HANYA YANAGIHARASpeak Softly In a wild meadow by the sea, Julianne Moore and Bart Freundlich’s Montauk house uses just a few materials to say many things. In Moore’s office, a Pierre Jeanneret desk and chair, an Alvar Aalto stool and a Willy Van Der Meeren cabinet. In the oak-paneled living room of Justinian Kfoury’s apartment in a townhouse on Washington Square Park, an Audubon-style print and a Hans Wegner Papa Bear chair. A view of the double-height living room from the curved balcony on the third floor. A sculpture by Huma Bhabha and a configuration of five Isamu Noguchi L7 pendants in the landing that separates the primary suite from the living room.
Persons: it’s, Mishan, there’s, , Julianne Moore, Bart Freundlich’s Montauk, Bart Freundlich’s, Moore, Tom Volk, Oliver Freundlich, Anne’s, Pierre Jeanneret, Alvar Aalto, Willy Van Der, Ori Gersht, she’s, ” It’s, , , Bart Freundlich, Tomas Maier, Bottega, Andrew Geller, Norman Jaffe, Freundlich, ” Moore, Moore’s, Liv, Caleb, Robert Gurr, Isamu Noguchi, Pierre, Noguchi, Alma Allen, Joseph Dirand, Oliver, “ I’m, ” Oliver, grins, MOORE, Anne Love Smith, Massimiliano Locatelli, Daniel Romualdez, Vincent Van Duysen, Charlotte Perriand, Pierre Chapo, Willy Van Der Meeren, Friedrich Kunath, Mark Wilson, Donald Judd, Wilson, Mario Bellini, Karl Springer, Rogan Gregory, Nancy Pearce, Oscar, Alice ”, Alexander Calder, Andrea Zittel, JB Blunk, AFTRA, Hope, It’s, ‘ You’re, ’ ”, Justinian, Hans Wegner Papa Bear, Paavo, Marc Hundley, that’s, Adriana Lara, Nicholas Krushenick, Justinian Kfoury, downtowners, He’d, Trish Goff, Kfoury, Leonid Berman, Jelto ”, Tomma Abts, Paul Cadmus, Edith Wharton, Henry James, Paul van der, ” Kfoury, Joe Roberts, Mary Cameron Goodyear, Kfoury’s, He’s, Wolfgang Tillmans, they’d, Lorna Simpson, Misha Kahn, Michael Anastassiades, Glenn Ligon’s, Frank Bowling, Piet Hein Eek, Miriam Cahn, Paul Pfeiffer’s, Leah Panlilio, Tal Schori, Rustam Mehta, Adam Pogue, Constantino Buccolieri, Michael Kirkland, Cy Twombly’s, Ho, Huma Bhabha, Nairy Baghramian, Coco Fusco, Robert Vinas Jr, Duro Olowu, Mark Ellison, Adam Marelli, Bob Chan, Isamu Noguchi Akari, Danh Vo, Nairy, , Laura Mac Donald, Theaster Gates, Frank Lloyd, Kirkland, Ettore, Parsons, Jasper Johns, Merce Cunningham Organizations: Manhattan’s, Yorkers, that’s, Hamptons, WHO, Writers Guild of America, SAG, , Audubon, Washington, East Village, brac, AS, Fifth, Fort Standard, GRT Architects, Architects, Walt Disney Concert Hall, Soane Britain Locations: New York, Paris, London, Rome , New York, It’s, Washington, Manhattan, Harlem, Montauk, American, Chinatown, York, N.Y, Summerhill, Long, Fort Pond, New York City, Pond, North Carolina, Morentz, Scottish, Japanese American, Belgian, East Hampton, Japan, , California, Swiss, New York’s Washington, Kennebunkport, England, East, Boston, Lebanon, Maine, Vermont, Venice, Moroccan, North, Kfoury’s, New York’s Harlem, Westchester County, Brooklyn, Italian, Finnish, Rome, Los Angeles, Korean, Berlin, Iranian, Chicago
The United States had 3.5 million residents who identify as Middle Eastern or North African, Venezuelans were the fastest-growing Hispanic group last decade and Chinese and Asian Indians were the two largest Asian groups, according to the U.S. Census Bureau. MIDDLE EASTERN OR NORTH AFRICAN POPULATIONThe 2020 census was the first to allow respondents to identify themselves as coming from a Middle Eastern or North African country, otherwise known as MENA. ASIAN POPULATIONMore than 5.2 million people identified as Chinese, the largest group among respondents who were Asian alone or in combination with another group. The Nepalese population was the fastest growing Asian group, growing from almost 52,000 people in 2010 to almost 206,000 people in 2020. Some 1.9 million respondents who picked “some other race” identified as multiracial or multi-ethnic, and more than a half million said they were Brazilian.
Persons: Biden, , Maya Berry, it’s, Nicolás Maduro’s, Ernesto Ackerman, Mike Schneider Organizations: . Census, Bureau, Survey, Arab American Institute, Independent Venezuelan American Citizens, Puerto Ricans Locations: States, U.S, Jordanian, Moroccan, Washington, California, Michigan, New York, Venezuela, Miami, Puerto, American, U.S . New York, Texas
FILE PHOTO: U.S. Treasury Secretary Janet Yellen speaks during a press conference at the U.S. embassy in Beijing, China, July 9, 2023. REUTERS/Thomas Peter/File PhotoNEW YORK (Reuters) - U.S. Treasury Secretary Janet Yellen said on Tuesday that she trusts the leaders of the World Bank and the International Monetary Fund to adjust their Oct. 9-15 annual meetings in Morocco in an appropriate way given the country’s devastating earthquake. IMF Managing Director Kristalina Georgieva, World Bank President Ajay Banga and Moroccan Economy Minister Nadia Fettah Alaoui announced on Monday that the meetings in Marrakech would proceed despite the Sept. 8 earthquake that killed over 2,900 people in the nearby High Atlas Mountains. In their statement, they said they would make some changes to their meeting plans to adapt content “to the circumstances,” of the disaster. It wants the meetings to go on and feels it’s able to do what’s necessary,” she said.
Persons: Janet Yellen, Thomas Peter, Kristalina Georgieva, Ajay Banga, Nadia Fettah Alaoui, Yellen, , who’ve, , ” Georgieva Organizations: Treasury, U.S, REUTERS, . Treasury, World Bank, International Monetary Fund, IMF, World, Friday, Reuters Locations: Beijing, China, Morocco, Moroccan, Marrakech, New York
The International Monetary Fund (IMF) logo is seen outside the headquarters building in Washington, U.S., September 4, 2018. REUTERS/Yuri Gripas/File Photo Acquire Licensing RightsWASHINGTON, Sept 18 (Reuters) - The International Monetary Fund (IMF), the World Bank and Morocco on Monday announced the annual meetings of the two global institutions would proceed in October in Marrakech, despite a recent nearby earthquake that killed more than 2,900 people. Senior IMF and World Bank officials made the decision, first reported by Reuters, at the direct request of the Moroccan authorities who had pressed the global institutions to proceed with the gathering which is expected to bring some 10,000-15,000 to the Moroccan tourist hub. "At this very difficult time, we believe that the Annual Meetings also provide an opportunity for the international community to stand by Morocco and its people, who have once again shown resilience in the face of tragedy. Reporting by Andrea Shalal Editing by Chris ReeseOur Standards: The Thomson Reuters Trust Principles.
Persons: Yuri Gripas, Ajay Banga, Kristalina Georgieva, Nadia Fettah Alaoui, ” Georgieva, Andrea Shalal, Chris Reese Organizations: Monetary Fund, REUTERS, Rights, World Bank, Monday, Morocco's, IMF, Reuters, Moroccan, Thomson Locations: Washington , U.S, Morocco, Marrakech
Atlas Mountains, Morocco CNN —Khadija Ait Si Ali was just starting to rebuild her life when the earthquake struck. He told CNN he was determined to rebuild a home for his family. He told CNN the financial assistance would be a significant help for people living in the mountains. Back in Tinzert, Khadija Ait Si Ali said that for now, she was just trying to focus on her baby and get through each day. Ait Si Ali said she felt lost with nobody to turn to.
Persons: Morocco CNN —, Ait Si Ali, , , Amal Zniber, Amis Des Écoles, ” Zniber, Abdu Brahim, Hanan Ait Brahim, Ivana Kottasová, ” Hanan Ait, Hanan Ait, Abdelkarim Ait, Adil Akanour, ” Akanour, Akia, Akia Nayet, Fatme, CNN Mariam Maroi, Mariam Maroi, Brahim Organizations: Morocco CNN, CNN, Amis, Moroccan, United Nations Locations: Morocco, Tinzert, Tafeghaghte, Marrakech, Abdelkarim Ait Amkhaine’s, Ouirgane, Akanour, Asni, Turkey, Syria
Analysts and rights groups say the political class has been largely co-opted, while real power rests with the king and his "Makhzen", or Morocco's old political establishment. The tremor has, however, shown the unevenness of Morocco's economic development. Meanwhile, Forbes ranked the king in 2015 among Africa's richest men, with personal wealth valued at more than $5 billion. The king ordered Almada to donate 1 billion dirhams ($100 million) to an earthquake response fund. While the king has made few appearances since the earthquake, government officials have also kept a low profile.
Persons: King Mohammed VI, Hassan II, isn't, Aboubakr Jamai, Mohammed, Almada, Manar, Aidan Lewis, Edmund Blair Organizations: Royal Armed Forces, American College of, Forbes, Africa's, Thomson Locations: Rabat, Marrakech, Morocco, Africa, France, Tunisia, Egypt, Moroccan, Tangier, Casablanca, Almada, London
Questions have swirled over whether the IMF and World Bank would still hold their annual meetings in Morocco's tourist hub of Marrakech since a devastating, 6.8-magnitude earthquake struck in the High Atlas Mountains, killing more than 2,900 people. Marrakech, 45 miles (72 km) from the quake's epicenter, suffered some damage in its ancient Medina quarter, but Moroccan officials have pressed the IMF and World Bank to proceed with the gathering, which would bring some 10,000-15,000 to the city. "The Moroccan authorities are fully committed to the meetings," Georgieva said in her first public comments on the matter since the disaster. In describing discussions with Moroccan Prime Minister Aziz Akhannouch, Georgieva expressed concern that the IMF and World Bank "don't want to be a burden" to the country as it deals with recovery efforts. Morocco also has access to a $5 billion flexible creditline from the IMF, approved in April, that is aimed at strengthening the countries' crisis prevention capabilities.
Persons: Kristalina Georgieva, William Ruto, Emmanuel Macron, Janet Yellen, Ajay Banga, Georgieva, Aziz Akhannouch, Andrea Shalal, David Lawder, Chris Reese, Diane Craft Organizations: International Monetary Fund, Treasury, World Bank, New Global Financial, Monetary Fund, Bank, Reuters, IMF, Sustainability Trust, Moroccan, World, IMF's, Thomson Locations: Kenya, U.S, Paris, WASHINGTON, Morocco, Marrakech, Medina
NOW PLAYINGDrone Video Shows Widespread Destruction in Derna, Libya1:57A Moroccan Village Waited Days for Aid. Residents Say There’s No One Left to Save. 1:11Rescuers From Spain Search for Survivors in Morocco1:37‘No One Has Come to Help Us’: A Moroccan Father Mourns His Children0:48‘We Lost Everything’: Moroccan Man’s House Damaged by Quake1:29Devastating Earthquake in Morocco Kills More Than 2,000 People0:41Powerful Earthquake Rocks Morocco0:22Building Fire in Johannesburg Kills Dozens0:43Coup Supporters Attack the French Embassy in Niger0:42
Organizations: Survivors, Embassy Locations: Derna, Libya, Spain, Morocco, Johannesburg, Niger
A video from 2022 showing the moment a building collapsed in the Moroccan city of Casablanca is being falsely linked online to the country’s 2023 earthquake. “The moment a residential building collapsed after the earthquake in Morocco,” a Facebook user sharing the video on Sept. 9 wrote (here ). A 6.8 magnitude earthquake occurred 72 kilometers southwest of Marrakesh, Morocco, late on Sept. 8, 2023. Reuters reported that the earthquake was the deadliest in Morocco since 1960, when a major earthquake killed at least about 12,000 people (here ). The video dates to the collapse of a building in Casablanca in 2022, and not to the earthquake that struck Morocco in September 2023.
Persons: Organizations: Reuters, Google Locations: Moroccan, Casablanca, Morocco, Cherif, Marrakesh
Before the tourists came to marvel at the valley cradled in Morocco’s Atlas Mountains, with its arid red slopes splashed with lush green and its deep-blue lake, the only living to be made was in olive farming, and not much of a living at that. Then came the modest little hiking lodge and the luxury resort, and the quasi-palace owned by Richard Branson and the inns set up by the people of the Ouirgane Valley, many of whom are members of the Amazigh ethnic group, more commonly known as Berbers. As more and more tourists discovered over the last few decades that the area was only an hour’s drive from the city of Marrakesh, the residents of villages like Ouirgane got jobs as guides for mule riding and hiking, drivers, waiters, hoteliers, restaurateurs and more. Many were able to move back home from Moroccan cities like Marrakesh and Essaouira, where they had taken jobs to support families in their villages.
Persons: Richard Branson, Ouirgane Locations: Atlas, Marrakesh, Moroccan, Essaouira
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