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The International Monetary Fund (IMF) urged Tunisia to cut fuel subsidies and trim its public-sector payroll in a bid to lower budget deficit. “It is necessary to reduce unfair energy subsidies through increases in domestic energy prices that follow international oil prices,” the IMF said in a statement. “The public-sector wage bill is very large […]
Tunisia continues to face elevated macroeconomic vulnerabilities and high unemployment, said the IMF Executive Board after completing the second review under the Extended Fund Facility (EFF) Arrangement. In 2017, Tunisian economy made a modest recovery. The country’s debt has “continued to increase, inflation has accelerated, and international reserve cover is now less than three months […]
Mauritania’s economic outlook is favorable due to sustained commodity prices and ongoing economic policy efforts, but there are still considerable challenges for inclusive growth, said the International Monetary Fund. “The economic recovery continues, with growth estimated at 3-3½ percent in 2017 and 2018, and moderate inflation of 2.3 percent on average in 2017”, said IMF […]
Few weeks after the launch of the gradual Dirham float, The International Monetary Fund has advised Morocco to maintain the current reform pace with a view to strengthening the economy’s competitiveness. “Unlike other emerging economies, Morocco didn’t loosen currency restrictions under pressure, so authorities can take their time with future steps,” Nicolas Blancher, the IMF’s […]
The International Monetary Fund has issued a new assessment of the Algerian economy, which failed to diversify due to endemic corruption and deepening political crisis, fueling growing popular discontent and uproar. “Algeria continues to face important challenges posed by the fall in oil prices four years ago”, said IMF team after concluding a recent visit […]
The Arab region needs now more than ever an inclusive growth, which is a shared responsibility between governments, the private sector and society at large, including its youth and its women, said Tuesday in Marrakech Chief of the International Monetary Fund, Christine Lagarde. Addressing regional conference, “Opportunity for All: Promoting Growth, Jobs, and Inclusiveness in […]
Currency liberalization is the centerpiece of Morocco’s efforts to transform itself into North Africa’s main financial hub. The gradual Dirham float, which was announced early in January, will help Morocco attract more investments, IMF officials say. Morocco’s Central Bank launched a cautious and smooth liberalization of the Dirham starting with an anchor of 2.5% instead […]
The International Monetary Fund (IMF), Arab Monetary Fund (AMF), Arab Fund for Social and Economic Development (AFESD) and Government of Morocco will organize a high-level conference in Marrakesh, Jan. 29–30 to look into ways of promoting higher economic growth, job creation, and inclusiveness in the Arab World. The conference, “Opportunity for All: Promoting Growth, Jobs, […]
The IMF commended Morocco for launching a flexible ex-change rate system, saying that such a decision will help fur-ther improve Morocco’s external position, enhance the economy’s capacity to absorb shocks, and preserve its external competitiveness. Adopting the central bank law and continuing efforts to increase supervisory capacity in line with 2015 Financial Sector Assessment Program […]
The executive board of the International Monetary Fund (IMF) commended Morocco for its “sound” macroeconomic policies and reforms while stressing the need for structural reform efforts. “Executive Directors commended the authorities for the sound macroeconomic policies and reform implementation that have helped improve the resilience of the Moroccan economy, upgrade the fiscal and financial policy […]