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FINANCIAL NEWS
IMF grants USD3.5bn credit line to Morocco
24 Jul 2016
(MENAFN) The Intl’ Monetary Fund (IMF) granted Morocco a two-year USD3.5bn credit line for structural reforms to boost economic growth.
Moreover, the Precautionary Liquidity Line (PLL) is meant for nations with good economic policies that face balance of payments needs due to issues beyond their control.
In addition, the IMF confirmed on less than the USD5bn credit line signed in 2014 and the USD6.2bn deal signed in 2012, due to the N. African kingdom’s economy.
The country is expected to push ahead with structural reforms of its subsidies and pension and taxation systems, to start an inflation-targeting regime.
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