Managed floating in Morocco : Would a 5% fluctuation band be higher than expected ?

The process of floating the national currency has not been finalized yet. The central bank is still obligated to set a fluctuation band that would tie the value of the dirham through a managed float highly suggested by the International Monetary Fund. Announced as a potential 5% fluctuation band by the Head of the government, the CGEM alongside the GPBM both deem it higher than they had expected. 

Central Banks' Independence : A way of strengthening Bank Al-Maghrib’s status

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.