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Morocco’s exchange rate flexibility will help further improve the county’s external position, enhance the economy’s capacity to absorb shocks, and preserve its external competitiveness, IMF Deputy Managing Director, Mitsuhiro Furusawa, said Friday in Washington, reports MAP news agency.
Speaking following the IMF Executive Board’s discussion on the third and final review under the Precautionary and Liquidity Line (PLL) Arrangement for Morocco, Furusuwa added saying that :
«Adopting the central bank law and continuing efforts to increase supervisory capacity in line with 2015 Financial Sector Assessment Program recommendations will help strengthen the financial sector policy framework».
On Friday, the IMF Executive Board completed the third and final review under the Precautionary and Liquidity Line (PLL) Arrangement for Morocco. The arrangement supports the authorities’ economic reform program to rebuild fiscal and external buffers and promote higher and inclusive growth.
