Source: International Monetary Fund (IMF) |

Joint Statement on Solidarity with Morocco

Following the earthquake of September 9, we express our full solidarity with the Moroccan authorities and people, and offer our condolences to the families of the victims

The Prime Minister of India, Mr. Narendra Modi, the Chair of the African Union and President of the Comoros, Mr. Azali Assoumani, the President of the French Republic, Mr. Emmanuel Macron, the President of the World Bank, Mr. Ajay Banga, the Managing Director of the International Monetary Fund, Ms. Kristalina…

Source: International Monetary Fund (IMF) |

Executive Board Receives Request for Flexible Credit Line Arrangement with Morocco

The IMF stands ready to continue to support Morocco face the risks from the highly uncertain global environment

The International Monetary Fund (IMF) Executive Board met today in an informal session [1] to discuss a request from the Moroccan authorities for a two-year arrangement under the Flexible Credit Line (FCL) with the IMF in an amount equivalent to SDR 3.726 billion (about 417 percent of quota, or US$5 billion). This…

Source: International Monetary Fund (IMF) |

IMF Executive Board Concludes 2021 Article IV Consultation with Morocco

After shrinking by 6.3 percent in 2020, GDP is forecast to have grown by 6.3 percent in 2021, among the highest in the Middle East and North Africa region

On February 2, 2022, the Executive Board of the International Monetary Fund (IMF) concluded the Article IV consultation with Morocco on a lapse of time basis. Economic activity has recovered most of the ground lost during the severe global recession of 2020. This performance owes to continued fiscal and monetary stimulus, the…

Source: International Monetary Fund (IMF) |

IMF Staff Completes 2021 Article IV Mission to Morocco

International Monetary Fund (IMF) staff team led by Roberto Cardarelli conducted virtual discussions with the Moroccan authorities on the 2021 Article IV Consultation

Morocco’s economy is rebounding. The economic recovery is expected to continue over the next few years, although the COVID-19 pandemic will leave some scars; the authorities have embarked on a broad range of structural reforms, which should be supported by an adequate financing plan and a coherent and stable macroeconomic…

Source: International Monetary Fund (IMF) |

Coronavirus: Morocco Draws on Funds Available under the Precautionary and Liquidity Line to Address COVID-19 Pandemic

The International Monetary Fund (IMF) remains closely engaged with the authorities to help them mitigate the impact of COVID-19 on Morocco’s economy

On April 7, the Moroccan authorities purchased all available resources (about US$ 3 billion) under the Precautionary and Liquidity Line (PLL) arrangement; The authorities will use funds purchased under the PLL to cope with the social and economic impact of COVID-19 and to maintain strong external buffers in a context…

Source: International Monetary Fund (IMF) |

Opening Remarks: Rabat Conference on the Bali Fintech Agenda (by Tobias Adrian)

Promoting progress in Fintech will surely be a daunting challenge for policymakers

by Tobias Adrian Thank you, Governor Jouahri, for your eloquent opening remarks. And thank you to the Bank Al-Maghrib — which is celebrating its 60th anniversary this year — for hosting this conference. We’re pleased to join you here in Rabat, as we continue a series of conferences that we’re convening…

Source: International Monetary Fund (IMF) |

World Bank and International Monetary Fund (IMF) Officials visit Morocco to prepare 2021 Annual Meetings in Marrakech

Team visited the potential sites where the Annual Meetings will be held and had productive discussions on issues related to the planning of this major global event

A high-level team from the World Bank Group (WBG) and International Monetary Fund (IMF) visited Marrakech and Rabat from February 14–15 for discussions with the Moroccan Government on preparations for the WBG/IMF Annual Meetings to be hosted by the country in October 2021. During their visit, the senior officials from…

Source: International Monetary Fund (IMF) |

World Bank Group and International Monetary Fund to Hold 2021 Annual Meetings in Marrakech, Morocco

The last time the Annual Meetings were held in Africa was in 1973, in Nairobi, Kenya

The 2021 Annual Meetings of the World Bank Group (WBG) and the International Monetary Fund (IMF) will take place in Marrakech, Morocco, in October 2021, following a vote by the Boards of Governors of the two institutions. The Annual Meetings bring together central bankers, ministers of finance and development, private…

Source: International Monetary Fund (IMF) |

The International Monetary Fund Executive Board Completes the Third and Final Review under the Precautionary and Liquidity Line Arrangement for Morocco

Building on recent progress, continued fiscal consolidation will help lower the public-to-GDP debt ratio while securing priority investment and social spending in the medium term

Raising potential growth and making it more inclusive and reducing regional disparities will require sustained reforms. Growth rebounded in 2017 and is expected to accelerate gradually over the medium term, subject to improved external conditions and steadfast reform implementation. Building on recent progress, continued fiscal consolidation will help lower the…