Morocco can claim $1.2 billion, or more than 10 billion dirhams, in an operation by the International Monetary Fund (IMF). The institution announces the issuance of $650 billion in Special Drawing Rights (SDRs) drawn from its reserves. What is this about?
Despite the health crisis, Morocco is ranked this year in fifth place in the list of the best economies in Africa. This is the result of the Forbes Middle East 2021 ranking, based on data from the International Monetary Fund and the World Bank.
The head of the International Monetary Fund mission in charge of Morocco, Roberto Cardarelli, recently participated in a PCNS webinar. Among the topics discussed during this virtual meeting was the economic crisis generated by the health crisis.
Even though Morocco is considered the best country in the MENA region in terms of vaccination against Covid-19, the much-hoped-for herd immunity for a return to normal life will be achieved in the last quarter of 2021. This is what Roberto Cardarelli, head of the International Monetary Fund mission in charge of Morocco, said during a recent webinar.
The Head of the International Monetary Fund (IMF) mission in charge of Morocco, Roberto Cardarelli, noted on Monday that Morocco is a global example in terms of vaccination and faces a promising economic outlook. He made this statement during a webinar on the economic recovery prospects in the North Africa and Middle East (MENA) region.
The IMF said it was satisfied with Morocco’s progress in Covid vaccination. Its director made this known this week during a meeting with the Minister of Economy.
Companies continue to suffer the impacts of the health crisis, with for each country, its support measures and results that have difficulty reassuring. According to a study by the International Monetary Fund, the insolvency of SMEs could lead to a drop of more than 2 percentage points in the core capital ratios of banks this year.
The IMF’s recommendations for reviving growth in Morocco during this health crisis period are strongly criticized by several senior officials. Among these personalities are the High Commissioner for Planning, Ahmed Lahlimi and Abdellatif Jouahri, the governor of the Moroccan central bank.
On December 21, Morocco decided to repay in advance part of the drawdown made on the Precautionary and Liquidity Line in April last year. The Ministry of Finance and Bank Al Maghrib provided more details on this operation.
The health crisis due to the coronavirus and the halt in tourism activities have led to a sharp deterioration in Morocco’s fiscal situation, according to a statement from the International Monetary Fund (IMF).
The social aspect will be at the heart of economic policies in the MENA region, including Morocco. The International Monetary Fund (IMF) is fully in favor of this orientation and integrates it among its regional priorities for this new direction.
The meetings of the World Bank and the International Monetary Fund (IMF) which were to be held in October 2021 in Marrakech have been postponed by one year. This is the decision made by the two institutions due to the Covid-19 pandemic.