PRESS RELEASE : Chancellor Jeremy Hunt in Marrakech for IMF Annual Meetings [October 2023]

The press release issued by HM Treasury on 12 October 2023.

The Chancellor will attend key multilateral meetings, as well as hold talks with economic partners from around the world.

• Jeremy Hunt, Chancellor of the Exchequer, is in Marrakech, Morocco, for the International Monetary Fund and World Bank Annual Meetings
• Chancellor will attend key multilateral meetings, as well as hold talks with economic partners from around the world
• Chancellor to reaffirm UK’s commitment to fiscal responsibility ahead of Autumn Statement next month

Chancellor of the Exchequer Jeremy Hunt is in Marrakech, Morocco, today and tomorrow (Thursday 12 and Friday 13 October) for the International Monetary Fund (IMF) and World Bank Annual Meetings. He will discuss global economic issues and how to ensure international financial institutions are delivering for all member states, including the most vulnerable, as well as showcase the UK’s leadership on international development.

The Chancellor will also discuss the UK’s economic strategy, highlighting the need to fight inflation and make fiscally responsible decisions. He will reiterate Britain’s backing of international humanitarian causes such as Morocco’s earthquake relief effort, in addition to support for Ukraine following Russia’s illegal invasion and for Israel in the wake of the recent terrorist attacks.

Chancellor of the Exchequer Jeremy Hunt said:

“I’m in Marrakech to discuss the global fight against inflation, and how we are putting Britain back on the path to growth.

“It is because of our solid economic foundation at home that we can support our friends around the world. I am full of admiration for the Moroccan people’s resilience following the terrible earthquake in September, and want to reiterate Britain’s backing to support the victims.”

Also in attendance at this year’s IMF Annual Meetings are Andrew Mitchell, Minister for Development and Africa at the Foreign, Commonwealth and Development Office, and Andrew Bailey, Governor of the Bank of England.

The UK remains committed to supporting Morocco following the devastating earthquake in September, and has allocated a funding package worth up to £10m in response to this and the floods in Libya. A British search and rescue team, as well as a medical assessment team, were also deployed in the days immediately after the natural disaster to support the Moroccan authorities in the affected areas.

The meetings are one of the IMF’s twice-yearly centre pieces for international economic policy. This year’s are the first set to be held outside of Washington D.C. since 2018, when they took place in Bali, Indonesia. They are also the first IMF Annuals held in Africa since 1973, which were in Nairobi, Kenya.