Morocco: Ex Post Evaluation of Exceptional Access Under the 2012 Precautionary and Liquidity Line Arrangement
IMF Staff Country Reports, August 6, 2015
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- Morocco: Ex Post Evaluation of Exceptional Access Under the 2012 Precautionary and Liquidity Line Arrangement
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Bibliographic details
- Published: August 6, 2015
- Series: IMF Staff Country Reports
- DOI: https://doi.org/10.5089/9781513543741.002
Executive summary
- The Ex Post Evaluation confirms that the 2012–14 PLL arrangement was consistent with the PLL qualification standards and requirements under the exceptional access policy at the time of the PLL arrangement request in August 2012 and at the subsequent reviews.
- The authorities’ policies helped maintain macroeconomic stability and reduce fiscal and external vulnerabilities, despite unfavorable external developments.
- Despite significant macroeconomic achievements under the 2012–14 PLL arrangement, a number of policy challenges remained to be fully addressed.
Key findings on PLL eligibility and conditionality
- Consistency with PLL qualification standards and exceptional access requirements at:
- the time of the PLL arrangement request in August 2012
- subsequent reviews during 2012–14
- Policies under the arrangement contributed to reduced fiscal and external vulnerabilities.
Macroeconomic outcomes and context
- Arrangement period: 2012–14.
- Policies helped maintain macroeconomic stability despite unfavorable external developments (unspecified in the summary).
- The evaluation notes significant macroeconomic achievements, while also noting remaining policy challenges to be addressed.
Identified policy challenges (as stated)
- A number of policy challenges remained to be fully addressed after the 2012–14 PLL arrangement (specific challenges not enumerated in the summary provided).
Publication and document metadata
- Publication title: Morocco: Ex Post Evaluation of Exceptional Access Under the 2012 Precautionary and Liquidity Line Arrangement
- Date: August 6, 2015
- Series: Country Report No. 2015/231
- Issue: 231
- Volume: 2015
- Pages: 53
- DOI: https://doi.org/10.5089/9781513543741.002
- Stock No: 1MAREA2015005
- ISBN: 9781513543741
- ISSN: 1934-7685
- Format note: IMF Staff Country Reports
Subjects and keywords
- Subjects: Balance of payments; Current account deficits; Fiscal policy; Fiscal stance; Government debt management; International organization; Monetary policy; Oil prices; Prices; Public debt; Public financial management (PFM).
- Keywords: Current account deficits; draft central bank bank charter; Europe; Fiscal stance; fund policy; Global; government action; Government debt management; IMF Deputy managing director; Maghreb; Oil prices; PLL eligibility; PLL exit; Sub-Saharan Africa.
International Monetary Fund. Middle East and Central Asia Dept. "Morocco: Ex Post Evaluation of Exceptional Access Under the 2012 Precautionary and Liquidity Line Arrangement", IMF Staff Country Reports 2015, 231 (2015).
Content in this bundle
- Cr15231