Morocco has a new support from the International Monetary Fund (IMF) through a modular credit line (LCM) of 4.5 billion US dollars over two years, which was approved by the Board of Directors of the Institute. This mechanism aims to strengthen crisis prevention and consolidate the outer reserves of the kingdom in a global context that is characterized by strong uncertainty.
The IMF justifies this decision through the solidity of the economic foundations of Morocco, the quality of its institutional framework and the accuracy of its economic policy. This new agreement, which is part of a precaution logic, represents the second LCM received by Morocco with voluntary access according to the strategy of gradual exit of the authorities.
Despite the successive effects of drought in relation to agricultural production and employment, the IMF welcomes the resilience of the Moroccan economy. It underlines the effectiveness of household, money and financial answers as well as the success of Morocco’s latest bond emission in international markets under the advantageous conditions.
The Moroccan authorities are still led to their structural reform program for more integrative, more sustainable growth and the private sector. However, the IMF demands vigilance in the face of external risks, in particular the volatility of raw material prices and persistent climatic moods.
M.Ba.
