IMF ‘Impressed’ by Morocco's Determination to Pursue Structural Reforms (Managing Director)
Rabat - The International Monetary Fund (IMF) is "impressed" by Morocco's determination to pursue its structural reforms, said Wednesday in Rabat IMF Managing Director, Kristalina Georgieva. "We are impressed by Morocco's determination to pursue its major structural reforms so that its economy can meet the aspirations of the Moroccan people," Georgieva told reporters following talks with minister of economy, finance and administrative reform, Mohamed Benchaaboun.
The IMF managing director, who commended the "strong" partnership between the monetary institution and Morocco, is on a two-day working visit to Morocco. She also welcomed the importance given by the Kingdom of Morocco to youth and women, adding that the IMF has committed itself to provide technical support to policy makers in the country.
The IMF is willing to collaborate with Morocco to achieve the objectives of the vision of HM King Mohammed VI, she pointed out, adding that Morocco is currently shaping its growth and development model for the future. Georgieva said her visit to Morocco is an opportunity to discuss preparations for the annual meetings of the IMF and the World Bank (WB), scheduled for October 2021 in Marrakech.
"Marrakech, a city rich in history and culture, will be the financial capital of the world for a week in October," she said. For his part, Benchaaboun said talks were an opportunity to discuss issues of common interest.
Talks also focused on the 2021 edition of the annual meetings of the IMF and the WB, he said, adding that this event will provide Morocco with the opportunity to highlight the reforms undertaken under the leadership of HM King Mohammed VI. "We have also mentioned article 4 of the IMF which consists in reviewing all the macroeconomic indicators of the country as well as all the structural reforms carried out by the Kingdom in order to control public finances", he said.
The IMF has regularly issued notes showing that Morocco is moving in the right direction, particularly with regard to debt sustainability, he noted, adding that since 2012, "Morocco reiterates the Precautionary and Liquidity Line (PLL). This line, which is worth 3 billion dollars today and which comes to an end at the end of 2020, serves as an additional guarantee that allows the country to address external shocks, the minister stressed.
This line, which Morocco never intends to use, has helped to ensure that the main international donors have confidence in the country, he said. "We also discussed issues regarding Morocco' development", the minister said, citing in this regard the kingdom's development model.
During her visit to Morocco, Georgieva will hold talks with several Moroccan senior officials and will also take part in a round table on governance in the presence of members of civil society and young people.
The IMF managing director, who commended the "strong" partnership between the monetary institution and Morocco, is on a two-day working visit to Morocco. She also welcomed the importance given by the Kingdom of Morocco to youth and women, adding that the IMF has committed itself to provide technical support to policy makers in the country.
The IMF is willing to collaborate with Morocco to achieve the objectives of the vision of HM King Mohammed VI, she pointed out, adding that Morocco is currently shaping its growth and development model for the future. Georgieva said her visit to Morocco is an opportunity to discuss preparations for the annual meetings of the IMF and the World Bank (WB), scheduled for October 2021 in Marrakech.
"Marrakech, a city rich in history and culture, will be the financial capital of the world for a week in October," she said. For his part, Benchaaboun said talks were an opportunity to discuss issues of common interest.
Talks also focused on the 2021 edition of the annual meetings of the IMF and the WB, he said, adding that this event will provide Morocco with the opportunity to highlight the reforms undertaken under the leadership of HM King Mohammed VI. "We have also mentioned article 4 of the IMF which consists in reviewing all the macroeconomic indicators of the country as well as all the structural reforms carried out by the Kingdom in order to control public finances", he said.
The IMF has regularly issued notes showing that Morocco is moving in the right direction, particularly with regard to debt sustainability, he noted, adding that since 2012, "Morocco reiterates the Precautionary and Liquidity Line (PLL). This line, which is worth 3 billion dollars today and which comes to an end at the end of 2020, serves as an additional guarantee that allows the country to address external shocks, the minister stressed.
This line, which Morocco never intends to use, has helped to ensure that the main international donors have confidence in the country, he said. "We also discussed issues regarding Morocco' development", the minister said, citing in this regard the kingdom's development model.
During her visit to Morocco, Georgieva will hold talks with several Moroccan senior officials and will also take part in a round table on governance in the presence of members of civil society and young people.
Source : https://www.marocafrik.com/english/IMF-Impressed-b...