A few weeks after Morocco announced the adoption of a new exchange rate regime, the IMF expressed its support for this reform. According to its forecast, the Kingdom is on the right path.
In a detailed annual report, the International Monetary Fund has evaluated the economic and financial situation in Morocco urging it to implement structural reforms. The IMF assessment comes as the Moroccan Central Bank has not announced yet the first phase of the new currency exchange regime.
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.