Morocco: 2012 Article IV Consultation and First Review Under the Two-Year Precautionary and Liquidity Line—Staff Report; Public Information Notice and Press Release on the Executive Board Discussion; and Statement by the Executive Director for Morocco
IMF Staff Country Reports, April 5, 2013
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- Morocco: 2012 Article IV Consultation and First Review Under the Two-Year Precautionary and Liquidity Line—Staff Report; Public Information Notice and Press Release on the Executive Board Discussion; and Statement by the Executive Director for Morocco
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Bibliographic details
- Published: April 5, 2013
- Series: IMF Staff Country Reports
Program status and overall assessment
- The Precautionary and Liquidity Line (PLL) program is on track, and its design remains adequate.
- Morocco’s sound economic performance has been challenged by domestic and external shocks.
- The fiscal consolidation and efforts to rebuild buffers and address medium-term challenges taken up by the government has been commended.
Fiscal policy, reforms, and structural priorities
- Reforms of the subsidy system are required.
- Reforms of the pension system are required.
- There is a need to strengthen competitiveness and better equip the economy to respond to external shocks.
Financial sector, regulation, and supervision
- Efforts are under way to continue strengthening regulation and supervision while fostering the development of the financial sector.
Thematic coverage and subjects
- Subjects: Balance of payments, Credit, Current account, Current account deficits, External debt, Money, Public debt.
- Keywords: authority, CR, Credit, Current account, Current account deficits, dirham exchange rate, Europe, exchange rate, external shock, Global, IMF's executive board, ISCR, liability positions vis-à-vis nonresident, Maghreb, nonagricultural GDP growth, reform, reform agenda.