Morocco: Request for an Arrangement Under the Flexible Credit Line-Press Release; Staff Report; and Statement by the Executive Director for Morocco

Author: International Monetary Fund. Middle East and Central Asia Dept.

Volume/Issue: Volume 2023 Issue 142

Publication date: April 2023

ISBN: 9798400240508

$20.00

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Topics covered in this book

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Exports and Imports , Inflation , Money and Monetary Policy , Public Finance , International - Economics , CPI headline inflation , higher-than-expected inflation outturn , inflation expectation , FCL arrangement , nonfood inflation , Inflation , Credit , Loans , Global , Maghreb

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Summary

After a robust post-pandemic recovery in 2021, another severe drought and spillovers from Russia’s invasion of Ukraine slowed growth and raised inflation in 2022. The authorities’ policy response has been very strong, with fiscal, monetary, and financial policies appropriately calibrated to preserve macroeconomic stability while protecting the most vulnerable from the impact of the shocks. In addition, the authorities have accelerated the implementation of the vast program of structural reforms needed to make growth stronger, more resilient, and more inclusive. and made progress in further strengthening their institutional policy frameworks.