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Wednesday, November 30, 2022

IMF Deputy Managing Director Underlines Morocco’s Financial and Macroeconomic Stability

The Deputy Managing Director of the International Monetary Fund (IMF), Antoinette Monsio Sayeh, underlined, Thursday in Rabat, the financial and macroeconomic stability of Morocco thanks to the various actions undertaken by both Bank Al-Maghrib (Morocco’s central bank) and the government.

“We have seen financial and macroeconomic stability thanks to the actions undertaken by the Central Bank and the government in providing the necessary assistance to the economy,” Ms. Sayeh told the press at the end of her talks with the governor of Bank Al-Maghrib, Abdellatif Jouahri.

Ms. Sayeh described her discussions with Mr. Jouahri as “fruitful”, during which they discussed the means to strengthen the partnership and the technical support that the IMF “is happy” to look very closely at and provide.

“We are in the process of discussing with the Moroccan authorities how the IMF could always help them within the framework of the implementation of the New development model,” she added.

She also welcomed the “very strong and strengthened” partnership between the IMF and the Moroccan authorities, which has enabled Morocco to carry out various reforms and overcome the shocks of the past few years.

“For years Morocco and the IMF have built a partnership that has helped Morocco advance its reform programs in a very impressive way given the shocks that the country has been able to face in recent years, including drought, the pandemic and now the implications of the war in Ukraine,” she pointed out.

The IMF official underlined that her visit to Morocco is an opportunity to discuss “our work on the annual meetings of the World Bank and the IMF scheduled for next year,” noting that “the work is progressing very well.”

Sayeh’s visit to the Kingdom is part of a series of communication actions organized by the IMF in Morocco, which will host the Annual Meetings of the World Bank Group and the IMF in Marrakech in October 2023.

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