Barrel at $120: The critical threshold that will trigger maximum alert in Morocco

The governor of the Moroccan central bank has set a clear alert threshold in the face of global geopolitical turbulence. The kingdom will use "immediately and without prior conditions" the $4.5 billion flexible credit line granted by the International Monetary Fund if crude oil prices cross the $120 mark.

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For now, a barrel fluctuating around $100 and foreign exchange reserves covering six months of imports allow the use of this precautionary financing to be deferred. In this climate of uncertainty, marked by the repercussions of the conflict involving Iran, the institution has also chosen to maintain its key rate at 2.25% for the fourth consecutive time.

This monetary prudence is accompanied by close monitoring of the domestic market, directly hit by imported inflation. Entirely dependent on foreign purchases of refined products, the country is experiencing a sharp rise at the pump, with diesel and gasoline prices approaching 13 and 14 dirhams per liter, respectively.

On Bladi.net: Gasoline and Diesel: Why Morocco (for now) escapes the catastrophic scenario

In order to cushion this price shock and ensure the continuity of logistics chains, the government has reactivated its exceptional financial support system. Direct aid, ranging from 1,500 to 6,000 dirhams, will be paid to freight and passenger transport professionals to mitigate the pressure of energy costs.