The International Monetary Fund has approved a $2.97 billion liquidity to boost Morocco’s economy.
IMF’s deputy managing director, Mitsuhiro Furusawa disclosed that the two-year Precautionary and Liquidity Line arrangement will reduce the country’s fiscal deficit and insure it against external risks.
Mr. Furusawa said the country’s outlook depends on heightened geopolitical risks, slow growth in its main trading partners and global financial market volatility.
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Morocco’s economy is forecast to stand at 3.2 per cent in 2019, down from 3.6 per cent.
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