Marrakech, Morocco – 9-15 October 2023 - The Parliamentary Assembly of the Mediterranean (PAM) contributed to the World Bank and IMF Annual Meetings and the 2023 Global Parliamentary Forum, held in Marrakech, Morocco. PAM President and President of the House of Councilors of Morocco, Sen. Enaam Mayara, addressed the opening session of the meeting, while Hon. Giulio Centemero (Italy), President of the PAM 2nd Standing Committee, took the floor at the Session on “The Digital Opportunity in our Economies, Currencies and Taxation.”ß
PAM regularly attends the Global Parliamentary Fora organized by the World Bank and IMF Parliamentary Network, as they provide a unique platform for parliamentarians from all over the world to engage in global debates about key economic issue.
In addition, the event facilitated exchanges on energy transition, climate change, gender equality, and migration, with a focus on fostering legislative frameworks for a more resilient future.
In his intervention, Hon. Giulio Centemero emphasized the need for new economic models to address the complexities of the modern world, especially in the face of rapid digitalization, remote working, and cross-border services.
Furthermore, he shared insights on the impact of innovation and artificial intelligence on employment, challenging the assumption that innovation inevitably leads to job losses. He also emphasized historical patterns indicating that innovation often results in job creation and economic growth.
Hon. Centemero praised the WB and IMF’s decision to purse in the organization of the forum in Marrakesh, in a show of support to the recovery of Morocco, after the tragic earthquake that hit the country on 8 September. He also recalled the forthcoming 2nd Edition of the PAM Euro-Mediterranean and Gulf Economic Forum, scheduled for 14-15 December 2023 in Marrakesh.
The forum featured a panel discussion on the role of digitalization in economic development, addressing topics such as digital economy, taxation, central banks, and privacy concerns. This session included several international experts, among them Mr. Mancini-Griffoli, Division Chief, for Payments, Currencies, and Infrastructure Division at the IMF, and Hon. Yunus Carrim, Chair of the South Africa Finance Parliamentary Committee.
Discussions were influenced by the recent military developments in the Middle East. The IMF Chief Economist, Mr. Pierre-Olivier Gourinchas, stated that it was however too soon to assess the crisis’ economic impacts, while World Bank President, Mr Ajay Banga, referred to the conflict as an “economic shock we do not need”.
At the conclusion of the Meetings, participants agreed on the opportunity to expand the financial system by strengthening Public-Private Partnership (PPP). Through various innovative tools, the World Bank intends to enlarge its lending capacity, in the next decade, by more than 157 billion dollars, which will be mostly focused on supporting social and human capital investments and energy transition.
PAM’s active participation and contribution to these meetings is yet another testimony of the Assembly’s concrete commitment towards the promotion of parliamentary engagement and cooperation for sustainable economic development in the Euro-Mediterranean and Gulf regions. //