19 December 2018 IMF approves $2.9bn loan to Morocco

The International Monetary Fund (IMF) has approved a $2.97 billion Precautionary and Liquidity Line (PLL) to help Morocco face unexpected economic setbacks. The IMF said in a statement that the new PLL arrangement “will provide insurance against external shocks and support the authorities’ efforts to further strengthen the economy’s resilience and promote higher and more inclusive growth”. The two-year credit line signed on Monday is the fourth of its kind between Morocco and the IMF. “Morocco’s economic growth remains strong in 2018 and is expected to accelerate in the medium term, provided that external conditions improve,” ​​the IMF said. However, the outlook remains vulnerable to adverse external risks, including increased geopolitical risks and the volatility of global financial markets, it added.