Rabat – Managing Director of the International Monetary Fund, Christine Lagarde, believes that the transition to a flexible exchange rate system of dirham currency is “a very promising” action.
Having arrived in Marrakech on January 29 to attend an economic conference, Lagarde said that the “international markets and foreign investors will appreciate this decision taken by the Moroccan government.”
Lagarde also praised the creation of free zones in two major Moroccan cities: Tangier and Casablanca As reason for her praise, she cited the more than 85,000 job opportunities from local suppliers created as a result of this free zone.
Lagarde added that “the taxation policies should be made in such a way as to foster development in this region.
During the conference, Lagarde also discussed the unemployment challenges in the MENA region, noting that nearly 25 million young people currently seek employment. As a result, economic growth is always welcome.
According to Lagarde, the main challenge for the region is responding to the expectations of young people by giving them hope for the future. improvement of business climate would be a step in the right direction she said.
During the conference, Lagarde emphasized three areas Morocco should prioritize: the creation of a strong private sector, wealth acquisition and job opportunities. “The public financial situation of the region’s countries cannot create employment, hence the need for the private sector is needed.”
At the conference, Lagarde called on the attendees to support excluded groups – youth, women and refugees – and to adopt a public-private partnership to achieve the aforementioned development.
The managing director has also pledged support to Morocco in efforts to achieve inclusive growth, according to Bloomberg.
