Morocco Defends Developing Nations' Expectations

Morocco on Sunday urged the World Bank (WB) and the International Monetary Fund (IMF) to launch concrete actions in favor of developing nations.

Such Actions should be geared towards sectors that were most severely hit by the attacks of September 11 against the USA, especially tourism, air transport and exports, Moroccan economy, finance, privatization and tourism minister, Fathallah Oualalou, told the WB-IMF Development Committee, which was holding an in-camera meeting in Ottawa, Canada.

Oppressed peoples, especially the Palestinian people, should have their rights restored, above all their right to establishing an independent state with Al-Quds as its capital, Oualalou said.

Industrialized and developing countries should encourage partnership initiatives to serve sustained development and contribute to eliminating the specter of conflicts and of terrorist acts, he said.

He also stressed the need to alleviate the debt burden which brakes growth and economic and social development.

The Development Committee is a joint body of the WB and the IMF in charge of the transfer of real resources to developing nations.