Rabat – Morocco will get a new precautionary and liquidity line (PLL) of the International Monetary Fund (IMF), Governor of Morocco’s central bank, bank Al Maghrib, Abdelatif Jouahri, announced Tuesday.
“The IMF confirms Morocco’s eligibility to a precautionary line of 2 years of 3.55 billion dollars”, Jouahri said at a press conference following the second quarterly meeting of the Central Bank’s board.
This decision will pass before the IMF’s board on July 23, said Jouahri, noting that Morocco meets 4 of the 5 criteria required by the IMF for eligibility to the precautionary and liquidity line.
PLL is an IMF credit facility that can provide funding to meet actual or potential needs of the balance of payments of countries implementing sound economic policies. It was designed to provide insurance or to help solve crises related to internal or external economic shocks.