Coverart for item
The Resource Morocco : Request for an Arrangement Under the Precautionary and Liquidity Line and Cancellation of the Current Arrangement: Staff Report: Press Release and Statement by the Executive Director for Morocco, (electronic resource)

Morocco : Request for an Arrangement Under the Precautionary and Liquidity Line and Cancellation of the Current Arrangement: Staff Report: Press Release and Statement by the Executive Director for Morocco, (electronic resource)

Label
Morocco : Request for an Arrangement Under the Precautionary and Liquidity Line and Cancellation of the Current Arrangement: Staff Report: Press Release and Statement by the Executive Director for Morocco
Title
Morocco
Title remainder
Request for an Arrangement Under the Precautionary and Liquidity Line and Cancellation of the Current Arrangement: Staff Report: Press Release and Statement by the Executive Director for Morocco
Title variation
Morocco, request for an arrangement
Contributor
Subject
Language
eng
Summary
EXECUTIVE SUMMARYMorocco's economic track record was challenged in recent years by a series of exogenous shocks, to which the authorities responded vigorously. Facing a difficult international environment, the authorities adopted, with the support of the Fund's Precautionary and Liquidity Line (PLL), a policy program aimed at restoring fiscal and external buffers while strengthening competitiveness and promoting higher and more inclusive growth. The program remained broadly on track and the authorities did not draw on the PLL. The outlook is improving but remains subject to significant downside risks. Growth will slow in 2014, but it is expected to accelerate over the medium term owing to structural reforms and improved global conditions. However, this outlook remains subject to major external risks. A protracted period of slower growth in Europe, a surge in global financial market volatility linked to the exit from unconventional monetary policies in large advanced economies, and higher oil prices resulting from geopolitical tensions could significantly degrade the balance of payments. The authorities are requesting a two-year successor PLL arrangement with a lower access (550 percent of quota) than the first arrangement. The current PLL has provided useful insurance against external risks while anchoring the authorities' reform agenda and sending positive signals to markets. Given significant global risks, a successor arrangement, which the authorities intend to treat as precautionary, would continue to support their policies. The lower access reflects the strengthening of the economy in the past two years as well as a balance of risks lower than two years ago. Staff considers that Morocco continues to qualify for a PLL arrangement and recommends the approval of the authorities' request. The proposed arrangement carries low risks to the Fund and would have minimal impact on the Fund's liquidity were the authorities to draw on the full amount available. The authorities' policy package provides reasonable prospects of exit at the end of this arrangement if external circumstances warrant
Member of
Dewey number
338.964
Government publication
international or intergovernmental publication
Illustrations
illustrations
Index
no index present
Literary form
non fiction
Nature of contents
  • dictionaries
  • bibliography
http://library.link/vocab/relatedWorkOrContributorName
International Monetary Fund
Series statement
IMF country report
Series volume
no. 14/241
http://library.link/vocab/subjectName
  • International Monetary Fund
  • Economic development
  • Morocco
Label
Morocco : Request for an Arrangement Under the Precautionary and Liquidity Line and Cancellation of the Current Arrangement: Staff Report: Press Release and Statement by the Executive Director for Morocco, (electronic resource)
Instantiates
Publication
Note
  • "August 2014."
  • "July 11, 2014"--Page 2 of pdf
Bibliography note
Includes bibliographical references
Control code
ocn885355493
Extent
1 online resource (74 pages)
Form of item
online
Isbn
9781498337472
Other physical details
illustrations (chiefly color)
Specific material designation
remote
System control number
(OCoLC)885355493
Label
Morocco : Request for an Arrangement Under the Precautionary and Liquidity Line and Cancellation of the Current Arrangement: Staff Report: Press Release and Statement by the Executive Director for Morocco, (electronic resource)
Publication
Note
  • "August 2014."
  • "July 11, 2014"--Page 2 of pdf
Bibliography note
Includes bibliographical references
Control code
ocn885355493
Extent
1 online resource (74 pages)
Form of item
online
Isbn
9781498337472
Other physical details
illustrations (chiefly color)
Specific material designation
remote
System control number
(OCoLC)885355493

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