IMF Concludes First Review of the Agreement under the precautionary and liquidity line with Morocco

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Washington – The Board of Directors of the International Monetary Fund (IMF) concluded on Friday, the first review of Morocco’s economic performance under a 24-month program supported by the Precautionary and Liquidity Line (LPL), the IMF said in a statement.

“Despite an adverse external environment, the decisive actions taken by the authorities have helped to rebalance the economy and reduce the fiscal and external vulnerabilities,” said Naoyuki Shinohara, Deputy Managing Director of the IMF, in the statement.

However, he stressed the need to “continue the reform package to consolidate macroeconomic stability and support a stronger and inclusive growth”.

The IMF notes in this sense that the LPL, granted to Morocco in August 2012, was renewed in July 2014 for a period of two years for a total of $ 5 billion.

LPL was created to respond more flexibly to the liquidity needs of member countries whose economies are fundamentally sound and proven by applying a sound economic policy but are still exposed to some vulnerabilities.

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