Morocco: Second Review under the Precautionary and Liquidity Line

International Monetary Fund

No 2013/302, IMF Staff Country Reports from International Monetary Fund

Abstract: This paper highlights Morocco’s Second Review Under the Precautionary and Liquidity Line. The IMF report analyzes that the 2012 fiscal outcome entailed a significant slippage from the authorities’ target and exposed vulnerabilities in the budget framework. Core inflation has remained low while the unemployment rate remained about 9 percent. After worsening in 2012, the current account has been improving in 2013, while reserves have stabilized at about four months of imports. Liquidity conditions have remained tight, and credit growth has continued to decelerate, driven by both supply and demand factors.

Keywords: ISCR; CR; y-o-y inflation rate; deficit; close monitoring; staff appraisal; inflation rate; inflation in June; IMF's executive board; Government debt management; Credit; Current account deficits; Europe; Maghreb; Global (search for similar items in EconPapers)
Pages: 45
Date: 2013-09-27
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