The Managing Director of the International Monetary Fund (IMF), Kristalina Georgieva, congratulated Morocco for the progress made in immunization, as well as its anticipatory strategy to mitigate the effects of the health crisis and to stimulate the economy.
During a virtual meeting, with Mohamed Benchaaboun, Minister of Economy, Finance and Administration Reform, and Abdellatif Jouahri, Governor of Bank Al-Maghrib (BAM), Ms. Georgieva underlined the commitment of the IMF and the international financial community to support developing countries in their efforts to accelerate economic recovery and transformation and strengthen resilience to future shocks, said a statement from the Ministry of Economy, Finance and Reform of the administration.
On the occasion of this meeting, initiated on the sidelines of the spring meetings of the World Bank (WB) and the IMF, which took place virtually from April 9 to 11, 2021, Ms. Georgieva called on the Kingdom to continue its reform programs. and take advantage of new opportunities that arise in particular in the areas of climate and digitalization.
For his part, Mr. Benchaaboun presented the main response measures adopted by Morocco, in particular through the establishment of the Covid-19 Fund, adds the same source.
He also outlined the priority reform projects undertaken by Morocco, in accordance with the High Orientations of HM King Mohammed VI, in particular the post-Covid recovery plan, the reform of the public sector and the program for the generalization of social protection.
The minister also praised the management of the IMF for the initiatives launched to mitigate the negative effects of the Covid-19 crisis. In this context, he invited the IMF, through its benchmark positioning within the global financial architecture, to set up initiatives dedicated to middle-income countries, including Morocco, in order to meet their specific needs in the context of the current crisis.
For his part, Mr. Jouahri, praised the work accomplished by the IMF during this period of crisis under the leadership of Mrs. Georgieva, and thanked the IMF for the technical and financial support provided to Morocco in particular through the PLL, reports the press release.
The Wali of the Central Bank also highlighted the Kingdom’s commitments and the progress made in other priority sectors including green finance, public-private partnerships, financial inclusion and digitization.
At the end of this meeting, the two parties reaffirmed their commitment and their common will to further strengthen the cooperation relations between Morocco and the IMF and to successfully organize the annual meetings of the WB and the IMF, scheduled for Marrakech, in October 2022, the press release concludes.