The Covid-19 crisis forced the Kingdom to use the IMF’s Precautionary and Liquidity Line (PLL). To cope with the shock, Morocco proceeded on April 7, 2020 to draw on the PLL for an amount equivalent to nearly $ 3 billion. The latter is repayable over a period of 5 years, with a grace period of 3 years, indicate the Ministry of Finance and Bank Al-Maghrib (BAM).
The mobilization of this facility comes under the PLL agreement signed with the IMF in 2012 and renewed for the third time in December 2018, for a period of two years. This line serves as insurance against extreme shocks, such as that due to Covid-19.