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IMF: Morocco gets $5 Bln credit line to enhance its economic resilience & external buffers

The International Monetary Fund (IMF) decided on Monday to provide a $5 billion precautionary flexible credit line (FCL) to Morocco to enhance the country’s external buffers, and support its economic resilience and structural reforms. Ms. Antoinette Sayeh, IMF Deputy Managing Director, said : “Morocco’s very strong macroeconomic policies and institutional framework have allowed its economy […]

WB warns against impact of drought & water stress in Morocco

The World Bank has warned against the macroeconomic impact of droughts and water scarcity in Morocco wherein economic growth is expected to slow down in 2022 to 1.3 pc from 7.9 pc posted last year. While low rainfall shocks have historically been a driver of macroeconomic volatility in Morocco, droughts tended to be followed by […]

Morocco joins efforts with U.S. for Volubilis mosaics restoration

The restoration project of historic mosaics of the archeological site of Volubilis, an ancient Roman city near Meknes, a UNESCO World Heritage Site, was launched Wednesday in presence of minister of culture Mohamed Mehdi Bensaid and U.S. Chargé d’Affaires, David Greene. Supported by the U.S., the $189,000 project will be carried out by Ifker Association […]