São Paulo – The International Monetary Fund (IMF) completed last Wednesday (27) its third and final review of Morocco’s economy, which is part of a Precautionary and Liquidity Line (PLL) designed to ensure short-term payments. Approved in July 2014 and expiring in July 2016, the arrangement provides for USD 5 billion to be made available as insurance against international crises.
“The arrangement supports the authorities’ program to rebuild fiscal and external buffers and promote higher and more inclusive growth,” the IMF said. It also said Moroccan authorities are treating the arrangement as “precautionary.” This is the second such arrangement between Morocco and the Fund. The first one lasted from 2012 to 2014.
*Translated by Gabriel Pomerancblum
