IMF, World Bank to proceed with annual meetings in Morocco in October -source

The International Monetary Fund (IMF) and World Bank have decided to hold their annual meetings in Morocco in October despite a recent devastating earthquake, a source familiar with the decision said on Monday.

The decision, made on Monday by senior IMF and World Bank officials, came after Moroccan authorities pressed the global institutions to proceed with the Oct. 9-15 gathering in Marrakech, just 45 miles (72 kilometres) from the site of the 6.8-magnitude quake that killed more than 2,900 people on Sept. 8.