Let’s Make Our Counter-Summit In Marrakech : A Successful Meeting Of Global Social And Climate Grassroot Movements. A Concretization Of All Forms Of International Solidarity With The Disaster-Stricken Morocco.

18 September 2023 by Collective , ATTAC/CADTM Morocco

Coordination nationale du contre-sommet aux réunions de la Banque mondiale et du Fonds monétaire international à Marrakech en octobre 2023

National coordination of the counter-summit to IMF IMF
International Monetary Fund
Along with the World Bank, the IMF was founded on the day the Bretton Woods Agreements were signed. Its first mission was to support the new system of standard exchange rates.

When the Bretton Wood fixed rates system came to an end in 1971, the main function of the IMF became that of being both policeman and fireman for global capital: it acts as policeman when it enforces its Structural Adjustment Policies and as fireman when it steps in to help out governments in risk of defaulting on debt repayments.

As for the World Bank, a weighted voting system operates: depending on the amount paid as contribution by each member state. 85% of the votes is required to modify the IMF Charter (which means that the USA with 17,68% % of the votes has a de facto veto on any change).

The institution is dominated by five countries: the United States (16,74%), Japan (6,23%), Germany (5,81%), France (4,29%) and the UK (4,29%).
The other 183 member countries are divided into groups led by one country. The most important one (6,57% of the votes) is led by Belgium. The least important group of countries (1,55% of the votes) is led by Gabon and brings together African countries.

& WB World Bank
The World Bank was founded as part of the new international monetary system set up at Bretton Woods in 1944. Its capital is provided by member states’ contributions and loans on the international money markets. It financed public and private projects in Third World and East European countries.

It consists of several closely associated institutions, among which :

1. The International Bank for Reconstruction and Development (IBRD, 189 members in 2017), which provides loans in productive sectors such as farming or energy ;

2. The International Development Association (IDA, 159 members in 1997), which provides less advanced countries with long-term loans (35-40 years) at very low interest (1%) ;

3. The International Finance Corporation (IFC), which provides both loan and equity finance for business ventures in developing countries.

As Third World Debt gets worse, the World Bank (along with the IMF) tends to adopt a macro-economic perspective. For instance, it enforces adjustment policies that are intended to balance heavily indebted countries’ payments. The World Bank advises those countries that have to undergo the IMF’s therapy on such matters as how to reduce budget deficits, round up savings, enduce foreign investors to settle within their borders, or free prices and exchange rates.

meetings in Marrakech in October 2023


Let’s make our counter-summit in Marrakech :

▪ A successful meeting of global social and climate grassroot movements.

▪ A concretization of all forms of international solidarity with the disaster-stricken Morocco.

The earthquake that struck the regions of Marrakech, the Al Haouz plain, Taroudant and Ouarzazate caused an immense human and social tragedy. To date, number of victims stands at around 2,950 fatalities and over 5,670 injured. Entire villages and thousands of homes were destroyed, mainly in marginalized mountain areas.

The magnitude of the earthquake’s humanitarian, social and economic impact is linked to the liberal policies recommended by the World Bank and the International Monetary Fund and implemented by the Moroccan government. Public spending has increased to develop major infrastructures such as international airports, ports, highways and High speed trains, in order to encourage international and local private investment. However, the majority of rural areas and the suburbs of cities suffer from marginalization, weak public services, poverty and unemployment.

Organizations members of the National Coordination of the Counter-Summit are committed to continuing popular solidarity with victims.

The social movements involved in the counter-summit international, continental, regional and national levels have also expressed their willingness to contribute to the support of earthquake victims.

Our counter-summit in Marrakech will be an opportunity to embody international solidarity between peoples. We strengthen our alternatives to the policies of the World Bank, the International Monetary Fund International Monetary Fund and their allies, which lead to increased indebtedness, economic and health crises, climate change, and the reinforcement of despotism, racial and gender discrimination.

The National Coordination of the Counter-Summit is stepping up its efforts to welcome the global movements that will gather in the city of Marrakech from October 12 to 15, 2023 against the World Bank and International Monetary Fund meetings. We will challenge all difficulties and make our summit a successful meeting of social and climate movements, trade unions, women’s and climate movements, trade unions, small farmers, indigenous peoples, non-governmental organizations, the poor, the marginalized, the victims of climate and natural disasters and all the victims of international financial institutions, multinationals and despotism. We will consolidate the unity of peoples for freedom, dignity, democracy, social and climate justice, and sovereignty.

We, the National Coordination for the Counter-Summit to the World Bank and International Monetary Fund meetings in Marrakech reiterate :

– Our sincere condolences to the families of earthquake victims .

– Our support for all forms of popular solidarity .

– A warm welcome to all global social movements taking part in the Marrakech counter-summit in October. and we suggest that in this counter-summit we concretize all forms of international solidarity with the victims in Morocco.

Follow-up committee for the counter-summit in Morocco

September 15, 2023


member of the CADTM network, the Association pour la Taxation des Transactions en Aide aux Citoyens au Maroc (ATTAC Morocco) was founded in 2000. ATTAC Maroc has been a member of the international network of the Committee for the Cancellation of Third World Debt (CADTM) since 2006 (which became the Committee for the Abolition of Illegitimate Debts in June 2016). We have 11 local groups in Morocco. ATTAC aims to be a network that helps those involved in social, associative, trade union and more broadly militant activity to take ownership of the challenges of globalisation on issues of social and citizen resistance.


Address : n°140, rue Cadi Bribri Akkari 10000. Rabat. Maroc
Email : attac.cadtm.maroc at gmail.com
Website attacmaroc.org Tel 00 212 6 61 17 30 39

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