Highlights

During this important event, Mrs. FETTAH, who was accompanied by Mr. Abderrahim Bouazza, representing Bank Al-Maghrib, took part in several thematic sessions devoted to the issues of public indebtedness, financing the energy transition and the fight against climate change, the integration of the informal sector, and private sector development.

Speaking at the session devoted to the informal sector, the Minister of Economy and Finance highlighted the efforts made by Morocco, under the enlightened leadership of His Majesty the King, may God assist him, to consolidate the foundations of the social State and ensure widespread social protection for the entire population, including households operating in the informal sector.

At the close of the African Caucus meeting, Mrs. FETTAH delivered an appreciation message to the host country's authorities on behalf of the African governors and called on the governors to participate actively in the forthcoming Annual Meetings of the World Bank Group and the International Monetary Fund, scheduled for next October in Morocco.

As part of this process, the Minister of Economy and Finance invited African governors to advocate a reform of the Multilateral Development Banks (MDBs) that is fair, inclusive and focused on the development priorities of the countries of the South. The (MDBs) reform process aims, in particular, to thoroughly revise their mandate and their financial and operational models to meet growing financing needs, in a context of emerging new development challenges such as the fight against climate change and the energy transition.

As a reminder, the African Caucus is an informal discussion forum created in 1963, bringing together the Finance Ministers and Central Bank Governors of the 54 African member countries of the World Bank Group and the International Monetary Fund. It provides a platform for reflection on African economic and financial issues, and each year produces a memorandum for submission to the World Bank and the International Monetary Fund. On the sidelines of the African Caucus meeting, the Minister of Economy and Finance held bilateral meetings with Mr. Olavo Avelino Garcia Correia, Deputy Prime Minister and Minister of Finance of Cabo Verde, and Mr. Antonio Pedro, Acting Executive Secretary of the United Nations Economic Commission for Africa.

During her meeting with the Cape Verdean Finance Minister, Mrs. FETTAH praised the significant strides made by Cabo Verde towards economic and social development. In this respect, the Minister reaffirmed Morocco's readiness to strengthen its cooperation ties with this brotherly and friendly country, particularly in the Kingdom's areas of expertise such as agriculture, renewable energies and water management, in line with the Royal vision for dynamic and active South-South cooperation.