IMF grants Morocco 2-year $4.5bn credit line

The International Monetary Fund (IMF) said yesterday that it has approved a two-year $4.5 billion flexible credit line for Morocco to support the country’s economy and enhance its resilience against external shocks, Anadolu reported.

The IMF added in a statement that its executive board had approved granting Morocco this flexible credit line (FCL).

With this arrangement, Morocco will have access to substantial financial resources from international markets on favourable terms, helping the country avoid potential financial difficulties.

The IMF said: “Morocco qualifies for the FCL by virtue of its very strong institutional policy frameworks and economic fundamentals, its track record of implementing very strong policies, and its continued commitment to maintaining such policies in the future.”

“In a highly uncertain environment, the arrangement will enhance Morocco’s external buffers and provide insurance against downside risks,” the agency added.

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