It is still unclear when the Moroccan government and most precisely the central bank would announce the final phase of the new exchange rate currency. Waiting for the major step to be taken, Moroccan companies are expecting a worst case scenario. Details.
Morocco’s government adopted on Thursday a bill regarding amendments to the status of Bank Al-Maghrib (BAM), which will grant it more autonomy. The new project comes hand in hand with the new exchange rate flexibility measure and is a step towards central bank independence (IBC) recommended by the International Monetary Fund.