IMF Board Approves $5 Billion Morocco Flexible Credit Line
- Arrangement is available to North African nation for two years
- Economy is resilient, but vulnerable to global pressures
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The International Monetary Fund approved a $5 billion credit line for Morocco, enhancing the North African nation’s buffers and providing insurance against possible risks.
The IMF’s executive board approved the facility on Monday, and it’s available for two years, the Washington-based lender said in a statement on its website. Moroccan authorities stated their intention to treat the arrangement as precautionary.