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Thursday, December 1, 2022

Morocco’s Financial System Has Always Shown Resilience amid International Shocks – Minister

Economy and Finance Minister Nadia Fettah on Thursday affirmed that Morocco’s financial system has always shown resilience thanks its infrastructure, despite successive crises and global financial shocks.

The Moroccan minister’s statements came during the first plenary session of an international conference organized by the Moroccan Capital Market Authority (AMMC) on the sidelines of the 47th annual meeting of the International Organization of Securities Commissions (IOSCO).

During this conference dubbed “Global Capital Markets – Expect the unexpected : a trilemma for capital markets”, Fettah invited the international financial authorities to learn from the past conjunctures and maintain discipline, without “overreacting.”

Controlling inflation and overcoming difficulties related to global supply chains are the two main challenges that must currently be addressed, with commensurate means, capitalizing on collective intelligence, said the Minister.

Referring to the Sustainable Development Goals (SDGs), Fettah noted that Morocco has identified its priorities that remain closely aligned with international dynamics in developed countries.

“I am optimistic […] we are fortunate to have a roadmap such as the New Development Model (NMD) to bridge the gap between the economy and the social, and honor our commitments to the younger generations,” the minister stressed.

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