{
  "title": "Morocco: Third Review Under the Arrangement Under the Precautionary and Liquidity Line (PLL)-Press Release; Staff Report; and Statement by the Executive Director for Morocco",
  "publication": "IMF Staff Country Reports, March 12, 2018",
  "sourceUrl": "https://www.imf.org/en/publications/cr/issues/2018/03/12/morocco-third-review-under-the-arrangement-under-the-precautionary-and-liquidity-line-pll-45674",
  "canonical": "https://www.imf.org/en/publications/cr/issues/2018/03/12/morocco-third-review-under-the-arrangement-under-the-precautionary-and-liquidity-line-pll-45674",
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  "summary": "This paper discusses Morocco’s Third Review Under the Arrangement Under the Precautionary and Liquidity Line (PLL). Morocco’s economic fundamentals and policy frameworks are sound, the country is implementing generally sound policies, and remains committed to maintaining such policies in the future.",
  "sections": [
    {
      "heading": "Main findings and assessment",
      "content": "- Morocco’s economic fundamentals and policy frameworks are sound.\n- The country is implementing generally sound policies and remains committed to maintaining such policies in the future.\n- The authorities have not drawn on the arrangement and continue to treat it as precautionary."
    },
    {
      "heading": "Quantitative targets and performance",
      "content": "- End-September 2017 quantitative indicative targets on the fiscal deficit and international reserves were met."
    },
    {
      "heading": "PLL qualification and area-specific performance",
      "content": "- Morocco meets the PLL qualification criteria.\n- Performance by PLL qualification area:\n  - Performs strongly in three out of the five PLL qualification areas: monetary, financial, and data.\n  - Does not substantially underperform in the fiscal policy, and external position and market access areas."
    },
    {
      "heading": "Subject coverage and keywords (as presented)",
      "content": "- Subjects: Credit, Exchange rate flexibility, External debt, External position, Fiscal policy, Money, Public debt.\n- Keywords: Africa, CR, Credit, dirham fluctuation band, Europe, fluctuation band, Global, ISCR, Maghreb, market, market activity, reform implementation, staff appraisal, staff assessment.\n\nSource: Morocco: Third Review Under the Arrangement Under the Precautionary and Liquidity Line (PLL)-Press Release; Staff Report; and Statement by the Executive Director for Morocco\n\n---\n\n Content in this bundle\n\n- Country Report\n  - Country Report (Markdown version){rel=\"alternate\" type=\"text/markdown\"}\n  - Country Report (PDF){rel=\"external\" type=\"application/pdf\"}"
    }
  ],
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    "[Markdown version](/en/publications/cr/issues/2018/03/12/morocco-third-review-under-the-arrangement-under-the-precautionary-and-liquidity-line-pll-45674/index.md)",
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    "Published: March 12, 2018",
    "Series: IMF Staff Country Reports",
    "DOI: https://doi.org/10.5089/9781484344903.002",
    "Morocco’s economic fundamentals and policy frameworks are sound.",
    "The country is implementing generally sound policies and remains committed to maintaining such policies in the future.",
    "The authorities have not drawn on the arrangement and continue to treat it as precautionary.",
    "End-September 2017 quantitative indicative targets on the fiscal deficit and international reserves were met.",
    "Morocco meets the PLL qualification criteria.",
    "Performance by PLL qualification area:",
    "Subjects: Credit, Exchange rate flexibility, External debt, External position, Fiscal policy, Money, Public debt.",
    "Keywords: Africa, CR, Credit, dirham fluctuation band, Europe, fluctuation band, Global, ISCR, Maghreb, market, market activity, reform implementation, staff appraisal, staff assessment.",
    "**Country Report**"
  ],
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