Morocco’s plan to start liberalizing its currency through a reform package strongly suggested by the International Monetary Fund is about to be launched. Reacting to the strategic step, economic operators anticipating a devaluation, started converting their assets into Euros and Dollars. Responding to that, Abdellatif Jouahri, the Central bank governor said yesterday that «the reform program does not include devaluation».
According to Fitch Ratings, Morocco’s liberalization of the Dirham would have little impact on banks. Floating the currency gradually will help secure the process as the value of the Dirham will be managed carefully by the Central bank.
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