Morocco asks IMF for $5bn Precautionary Credit Line
Morocco asked the International Monetary Fund for a $5 billion credit line, with the institution’s chief planning to recommend approval based on the nation’s strong policy frameworks and track record.
The IMF executive board met in an informal session on Monday to discuss the request, the lender said in a statement. The arrangement, which would be treated as precautionary, would be for two years.
Mananging Director Kristalina Georgieva intends to make the recommendation when the board meets again to take a decision in the following weeks, the fund said.
“The IMF stands ready to continue to support Morocco face the risks from the highly uncertain global environment,” the Washington-based lender said.
Morocco in prior years had access to the IMF’s so-called precautionary and liquidity line, another instrument.
