The IMF issued Morocco a new liquidity line, following its “progress in reducing fiscal, external vulnerabilities”:
The arrangement is under the IMF’s Precautionary and Liquidity Line, which provides insurance against external shocks in light of heightened uncertainty worldwide. This will help the government to continue with their reform agenda aimed at promoting inclusive growth by addressing challenges such as high youth unemployment (about 21 percent in 2015), low female labor force participation, and boosting competitiveness, in a still adverse external environment.
Insurance against global instability
Coming off the two previous precautionary and liquidity arrangements—approved in 2012 and 2014—Morocco has implemented challenging reforms such as modernizing the budget framework, enacting energy subsidy reforms, strengthening the domestic financial sector, and most recently reforming the civil service pension system…[FULL STORY]