News Column

Morocco : IMF Managing Director Visit To Morocco

May 10, 2014

IMF Managing Director Underscores Morocco's Progress In Financial Stability

Managing director of the International Monetary Fund, Christine Lagarde, underscored Morocco's considerable efforts in securing financial stability and encouraged Moroccan authorities to continue on the same path.

"The goal of my visit is to encourage Moroccan authorities to continue the work for better financial stability and macroeconomic atmosphere in order to continue to create growth and jobs", Lagarde told the press following a meeting with economy and finance minister, Mohammed Boussaid.

The IMF head further noted that the precautionary and liquidity line obtained by Morocco is a sort of insurance to continue to develop financial stability and reforms, stressing that the Kingdom did not need to use the USD 6.2 billion instrument.

Lagarde also urged for preserving inclusive growth that will benefit impoverished persons.

"Our concern today is economic takeoff and consolidation of job-generating inclusive growth", said the Moroccan minister who noted the need for developing sectoral strategies and to carry on financial and economic reforms.

Boussaid also praised the relations of frankness, trust and mutual respect between Morocco and the IMF.

Lagarde is currently visiting Morocco to meet with Moroccan officials, incuding the head of government, chairman of the economic, social and environmental council and the Bank Al-Maghrib governor.

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Source: TendersInfo (India)

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