Arab Monetary Fund Grants Morocco $190 Million in Financing
The Arab Monetary Fund has granted Morocco 1.64 billion dirhams ($190 million) in financing to help with the country’s balance of payments and support trade with other Arab nations, the state-run Maghreb Arabe Presse reported.
The Abu Dhabi-based fund granted Morocco a 1 billion dirham loan to support its balance of payments and a 637.5 million dirham loan to finance trade with Arab nations, MAP said today.
“The Arab Monetary Fund supports the government’s strategy that aims to reduce the deficit of the balance of payments and strengthen the level of foreign exchange reserves, while supporting the competitiveness of our exports to Arab countries,” Finance Minister Nizar Baraka was quoted as saying by MAP.
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