Arrangement is available to North African nation for two years Economy is resilient, but vulnerable to global pressures
The International Monetary Fund approved a $5 billion credit line for Morocco, enhancing the North African nation’s buffers and providing insurance against possible risks.
Also read: Morocco to spend US$580M to attract more tourist
The IMF’s executive board approved the facility on Monday, and it’s available for two years, the Washington-based lender said in a statement on its website. Moroccan authorities stated their intention to treat the arrangement as precautionary.
Source:
Bloomberg
