Former British Foreign Service Officer, Arthur Snell, has described Morocco as a rising power, saying the country, which was rocked last month by powerful quake, remains undeterred and is now preparing to host the IMF-WB annual meetings from 9 to 15 October 2023.
In an Op-Ed posted by U.S. Newsmax TV channel, Mr. Snell, who also served as a British High Commissioner, said hosting the annual meetings of the two international financial institutions by the North African Kingdom is a rite of passage for a rising power, citing in this regard the example of Turkey, Indonesia… the recent hosts of the WB-IMF annual gathering.
This high-level event, bringing together central bankers, ministers of finance and development, private sector executives, civil society, media, and academics, is a sort of Davos without the movie stars.
In recent years, Morocco has enjoyed considerable diplomatic successes, securing the U.S. and Israel’s recognition of the Moroccaness of the Sahara, said ex-deputy Director for Counter Terrorism (2008-2010), noting that Spain, Germany, and the UK have expressed support for Morocco’s autonomy plan offered for the Sahara under the Kingdom’s sovereignty.
The IMF-WB meetings come at a time Morocco is determined to showcase its increasingly sophisticated economy and inclusive development, added Mr. Snell.
It’s not, like its neighbor Algeria, dependent on the oil and gas sector and as is often the case, this has proved a benefit: Morocco has consistently higher employment, higher growth, and higher rates of foreign direct investment, underlined the Author of “How Britain Broke the World”.
He also said that businesses like the fact that Morocco has a stable political system under the leadership of King Mohammed VI, contrasting with the turbulence and unpredictability seen across the rest of North Africa.
Since 2018, Morocco has been Africa’s largest exporter of cars, combining physical proximity to Europe and efficient logistics with a much lower cost base, said the ex-British diplomat, hailing the impressive growth of Moroccan aerospace sector.
Despite its limited fossil fuel resources, Morocco has become one of Africa’s leaders in renewable energy, notably solar and wind power, underlined Mr. Snell.
Source: North Africa Post
