IMF agrees on two-year $3.5 bln credit line for Morocco

The International Monetary Fund (IMF) has granted Morocco a $3.5 billion credit line for two years to help it pursue structural reforms bringing more rapid and inclusive economic growth, the country’s finance ministry announced Saturday.

The IMF agreed on less than the $5 billion credit line signed in 2014, and $6.2 billion signed in 2012, as the North African kingdom’s economy has been improving, thanks to the bold government measures in tackling deficits.

Source: Reuters