After widening the dirham’s trading band a year ago, authorities were expected to wait until at least 2020 before considering further easing their hold on the currency. Timing Reforms“For us, the reform aims to absorb external shocks and boost Morocco’s competitiveness,” Jouahri said, adding that the IMF deems this as an opportune time to push ahead with the reforms. Morocco King Orders Banks to Put More Money In DevelopmentThe new model won’t slow its currency reforms, the governor said. “We tell people: ‘Let bygones be bygones, pay 5% and say goodbye to the informal sector,’” Jouahri said. Morocco lost ground lately on global competitiveness, he said, adding that the government “must catch up.”

Source: The North Africa Journal October 19, 2019 18:45 UTC