New exchange rate regime : The central bank prepared to carry out further studies

Bank Al-Maghrib is willing to carry out the complementary studies necessary to better accompany the new exchange rate policy, said Tuesday its governor, Abdellatif Jouahri.

«If we retreat to better appreciate and support the new exchange rate regime, it seems to me that it is positive. If studies or complementary information are needed, we are there to make the simulations that are needed for a measure that will last for several years,» he said during a conference held at the end of the quarterly meeting of the BAM Board.

Similarly, the Wali of BAM has not failed to stress that this reform will strengthen the capacity of the Moroccan economy to absorb external shocks and will help to preserve its competitiveness.

All the necessary prerequisites for the implementation of this reform, namely, medium-term fiscal sustainability, a good level of foreign exchange reserves, controlled inflation and a sound banking system have been achieved, he recalled.

As part of the communication campaign carried out for this purpose, the Central Bank governor reported, among other things, the holding of 20 meetings with banks, 14 meetings with operators and the initiation of meetings with the Moroccans living abroad in Madrid , Brussels and Paris.