The International Monetary Fund (IMF) stated that they will give Morocco a $5 billion credit line to help the North African country chase a development agenda to attain speedy and more inclusive economic growth.
The PLL pact will let the authorities to engage in their home-grown modification agenda intended at attaining quick and more inclusive economic growth while providing them with useful insurance against external shocks, the Washington-based IMF said in a statement.
Morocco’s sound economic fundamentals and overall robust record of policy accomplishment have given to a solid macroeconomic achievement in current years, according to the IMF Deputy Managing Director and Acting Chairman of the Board during the discussion in Morocco.
Despite the consequences of a difficult external environment, the authorities made considerable steps in lessening vulnerabilities, rebuilding policy space and addressing medium-term challenges over the course of the first agreement supported by a PLL.
The Moroccan authorities have been merging Morocco’s fiscal position as trailing an agenda of structural transformations to tackle strengthen competitiveness, vulnerabilities and promote higher and more inclusive improvement. The significant advancement made in reforming the subsidy system is remarkably creditable.