As the global financial community prepares for the annual conclave in Marrakesh, Morocco, Ethiopia’s mounting economic challenges have emerged as a discussion point, with its authorities seeking financial assistance from the International Monetary Fund (IMF).

IMF’s Director of Communications, Julie Kozack, highlighted the hurdles that Ethiopia currently grapples with: persistent droughts spanning six consecutive years, the devastating consequences of the pandemic, internal conflicts, and the indirect economic impacts of Russia’s war in Ukraine.

“Ethiopia has been the subject of multiple shocks,” Kozack said at a virtual press briefing last week. “Economic challenges are significant.”

The Communications Director highlighted issues from food insecurity and humanitarian needs to high inflation rates and shortages of crucial foreign exchange and imported goods. Ethiopian authorities have formally requested financial support from the IMF. Finance Minister Ahmed Shedie, Central Bank Governor Mamo Mehiretu, and Teklewold Atnafu, senior monetary policy advisor to the Prime

Ministers are among the officials expected to attend the Marakesh meeting for five days, beginning October 9. Several CEOs of commercial banks have also been booked to fly to Morocco to attend the bi-annual event.

The forthcoming meeting, set against Morocco’s recent earthquake backdrop, shows the challenges countries face in the wake of natural disasters and economic disruptions. Moroccan authorities declared a three-day mourning after a 6.8 magnitude earthquake two weeks ago killed nearly 2,000 people. While the tragedy in Morocco highlighted the immediate damages such catastrophes can inflict, Ethiopia’s situation underscores the intricate web of geopolitical, environmental, and financial disruptions that can exert prolonged strains on a country’s economy.