Morocco’s GDP growth is expected to increase to 4.5 percent in 2021 as the effects of the drought and pandemic wane and monetary and fiscal policy remains accommodative, announced on Wednesday the International Monetary Fund. In a press release issued after concluding 2020 Article IV Consultation with Morocco, the IMF Executive Board also said that […]
Tag: IMF
IMF, WB delay Morocco meetings till 2022
The International Monetary Fund, the World Bank and the Kingdom of Morocco announced the postponement of the Marrakech annual meetings for a year until October 2022 The annual meetings are usually held for two consecutive years at the World Bank and IMF headquarters in Washington, and then in a member country every third year. […]
IMF commends Morocco’s measures to contain Covid-19 crisis, expand social welfare
The prompt measures adopted by Morocco after the outbreak of the coronavirus outbreak helped the country contain the economic and social impact of the pandemic, said the IMF, noting that the country should brace for deep recession this year. The Moroccan economy will contract by 6 to 7% this year due to the impact of […]
IMF approves aid for world’s 28 poorest countries, 22 of which in Africa
The International Monetary Fund (IMF) approved this week new emergency aid for 28 of the world’s poorest countries, 22 of which being Africa, to help them alleviate their debt and better cope with the impact of the coronavirus pandemic. This second six-month tranche of debt service relief for 28 member countries under the Catastrophe […]
Moroccan economy one of least impacted by COVID-19 in MENA – IMF
Moroccan economy has so far shown resilience and agility in responding to the coronavirus pandemic making it one of the least impacted in the MENA region by the pandemic, MENA and Central Asia director at the International Monetary Fund (IMF) Jihad Azour said. “Morocco is one of the countries that knew how to efficiently manage […]
COVID-19: IMF approves debt relief for 25 countries, including 19 in Africa
The International Monetary Fund on Monday announced a plan to provide immediate debt relief to 25 member countries, including 19 African states to allow them to focus more on the coronavirus pandemic. According to the IMF Managing Director Kristalina Georgieva, the Washington-based institution approved the first batch of countries to receive grants, under its Catastrophe […]
COVID-19: IMF vows to remain closely engaged with Morocco
The International Monetary Fund has vowed to remain closely engaged with Morocco as the authorities address the impact of the coronavirus pandemic. This came in a communiqué issued by the IMF confirming that the North African country drew the $3 billion available resources under the arrangement. The authorities will use funds purchased under the PLL […]
COVID-19: African finance ministers seek IMF, World Bank and EU support on debt relief
African finance ministers have requested the support of the International Monetary Fund, the World Bank and the European Union for bilateral, multilateral and commercial debt relief amid the coronavirus crisis. The request was germinated from the second virtual meeting on Tuesday, hosted by Vera Songwe, Executive Secretary of the Economic Commission for Africa, and […]
IMF secures $330m debt relief for Somalia
The International Monetary Fund (IMF) says it has secured more than $330m in debt relief for Somalia. The African nation has about $5 billion in external debt, accounting for about 100% of its GDP, which the Fund has declared to be unsustainable. The $330m brings the country a crucial step closer to receiving forgiveness for […]
IMF Hails Morocco’s Reforms towards a More Inclusive Economy
The International Monetary Fund (IMF) is “impressed” by Morocco’s determination to pursue its structural reforms and endeavors to make its economy more inclusive, said Wednesday in Rabat IMF Managing Director, Kristalina Georgieva. She cited as an instance the new development model being elaborated by a special committee and the Integrated Program for Enterprise Support and […]