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Established in 2006 as a Community of Reality

Welcome to the Neno's Place!

Neno's Place Established in 2006 as a Community of Reality


Neno

I can be reached by phone or text 8am-7pm cst 972-768-9772 or, once joining the board I can be reached by a (PM) Private Message.

Established in 2006 as a Community of Reality

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Established in 2006 as a Community of Reality

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    The IMF supports Morocco's transition to a flexible exchange rate regime

    Rocky
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    The IMF supports Morocco's transition to a flexible exchange rate regime Empty The IMF supports Morocco's transition to a flexible exchange rate regime

    Post by Rocky Wed 08 Nov 2017, 2:53 am

    The IMF supports Morocco's transition to a flexible exchange rate regime

    The IMF supports Morocco's transition to a flexible exchange rate regime 3527
    Economy News _ Baghdad
    The head of the IMF mission said he supported the Moroccan authorities' desire for a gradual transition to a flexible exchange rate regime "which would make the Moroccan economy better in terms of absorbing external shocks and maintaining its competitiveness." 

    "The current situation of Morocco gives this possibility to start this transition gradually and systematically," Nicola Blancher, head of the IMF's advisory mission to Morocco, told a press conference in Rabat. 

    "The risks of Morocco's financial sector remain limited," he said after completing a two-week mission in Morocco that met with Moroccan officials and included consultations on the third line of credit approved by the IMF in July. 

    Morocco had announced that it intended to liberalize the dirham exchange rate in mid-June but postponed the move indefinitely.

    The IMF said there was still much that Morocco had to do to "achieve a higher sustainable and inclusive growth rate." 

    He added that Morocco should achieve growth rate of 5.5% to create jobs. 

    "It is necessary to accelerate structural reforms to increase productivity, create job opportunities and raise the rate of growth. It is also necessary to improve the quality of education, the functioning of the labor market and the integration of women in employment," the IMF said. 

    He pointed out that the expected growth rate this year is in the range of 4.4%, according to the draft finance law, which is currently being discussed by the Moroccan Parliament. 

    The IMF mission also said that the Moroccan authorities' intention to reduce the budget deficit from 3.5% of GDP in 2017 to 3.0% in 2018 by "cutting costs and raising incomes ... is a matter of satisfaction."

    The mission added that it supports the authorities' decision to reduce the debt to 60% of GDP in 2021 from 64.3% in 2017.


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