Currency liberalization is the centerpiece of Morocco’s efforts to transform itself into North Africa’s main financial hub. The gradual Dirham float, which was announced early in January, will help Morocco attract more investments, IMF officials say. He added that the lifting of most fuel subsidies and other reforms had allowed Morocco to boost economic growth, which was put at 4.5% last year. Morocco’s reserves have stabilized at more than $26 billion covering more than six months of imports. Co-hosted by the International Monetary Fund (IMF), the Arab Monetary Fund, Arab Fund for Social and Economic Development and the government of Morocco, the high-level conference discusses means of promoting higher economic growth, job creation and inclusiveness in the Arab World.

Source: The North Africa Journal January 30, 2018 19:18 UTC