Morocco eyes IMF deal on new credit line by end of year
Morocco expects to reach an agreement with the IMF for a Precautionary and Liquidity Line (PPL) by the end of 2018, the economy and finance minister said on Tuesday.
Mohamed Benchaaboun did not specify the amount but said at a news conference that the ministry has already requested the IMF`s PLL.
In 2016, the IMF granted Morocco a two-year, $3.5 billion credit line for Morocco to give its foreign lenders, investors and rating agencies reassurance over the country’s economic policies, allowing it to tap international capital markets at favourable borrowing terms.
In January officials had said they would negotiate a new agreement without giving details.
(This article has not been edited by Zeebiz editorial team and is auto-generated from an agency feed.)
Get Latest Business News, Stock Market Updates and Videos; Check your tax outgo through Income Tax Calculator and save money through our Personal Finance coverage. Check Business Breaking News Live on Zee Business Twitter and Facebook. Subscribe on YouTube.