Morocco’s IMF Credit Line Boosts Reserves, Covers 18 Days of Imports

15 April 2020 – byGinette · 1 min read

The Precautionary and Liquidity Line (PLL) granted by the International Monetary Fund (IMF) to Morocco has only covered a few days of imports. According to Fouzia Zaaboul, Director of the Treasury, "the PLL drawdown strengthens our foreign exchange reserves by about 18 days of goods and services imports".

It was during an interview that the Director of the Treasury and External Finance stated that "Morocco is now at 5 months of imports, in terms of foreign exchange reserves". The question that arises is how many PLL drawdowns the kingdom would need to meet "future import needs", especially with "the dwindling of export earnings and remittances from Moroccans living abroad".

The Director of the Treasury is counting on "the good rating enjoyed by the Morocco label on the international financial market" and insists on the priority given to domestic debt.

Category: Economy

Keywords:

IMF Consumption Public Treasury