FILE PHOTO: The International Monetary Fund (IMF) logo is seen outside the headquarters building in Washington, U.S., as IMF Managing Director Christine Lagarde meets with Argentine Treasury Minister Nicolas Dujovne September 4, 2018. REUTERS/Yuri Gripas/File Photo
FILE PHOTO: The International Monetary Fund (IMF) logo is seen outside the headquarters building in Washington, U.S., as IMF Managing Director Christine Lagarde meets with Argentine Treasury Minister Nicolas Dujovne September 4, 2018. REUTERS/Yuri Gripas/File Photo

IMF, World Bank, and Moroccan officials discuss 2021 fiscal agenda

By Xinhua Time of article published Feb 21, 2020

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RABAT, Feb. 19 (Xinhua) -- Officials from the International Monetary Fund (IMF) and Morocco held talks on Wednesday in Rabat on the preparations for the annual meetings of the IMF and the World Bank scheduled for October 2021 in Marrakech.

The IMF Managing Director Kristalina Georgieva told the press after talks with Moroccan Minister of Economy and Finance Mohamed Benchaaboun that Marrakech, a city rich in history and culture, will be the financial capital of the world for a week in October, 2021.

The 2021 Annual Meetings will provide Morocco with the opportunity to highlight the reforms undertaken as well as the timely regional issues and the inclusive growth in the region, she added.

International Monetary Fund (IMF) Managing Director Kristalina Georgieva speaks during a joint press conference in Rabat, Morocco, on Feb. 20, 2020. Officials from the International Monetary Fund and Morocco held talks on Wednesday in Rabat on the preparations for the annual meetings of the IMF and the World Bank scheduled for October 2021 in Marrakech. (Xinhua)

"We are impressed by Morocco's determination to pursue its major structural reforms so that its economy can meet the aspirations of the Moroccan people," she said.

For his part, Benchaaboun said that the IMF has regularly issued notes showing that Morocco is moving in the right direction, particularly with regard to debt sustainability.

Moroccan Minister of Economy and Finance Mohamed Benchaaboun (L) speaks during a joint press conference in Rabat, Morocco, on Feb. 20, 2020. Officials from the International Monetary Fund and Morocco held talks on Wednesday in Rabat on the preparations for the annual meetings of the IMF and the World Bank scheduled for October 2021 in Marrakech. (Xinhua)

Since 2012, Morocco has reiterates the Precautionary and Liquidity Line (PLL), he said, adding that it serves as an additional guarantee that allows the country to address external shocks.

This line, which Morocco never intends to use, has helped to ensure that the main international donors have confidence in the country, he said.

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