Morocco to get precautionary line of 3.55 bln USD from IMF

Morocco will get a 3.55 billion U.S. dollars precautionary and liquidity line (PLL) from the International Monetary Fund (IMF), the country's central bank announced on Wednesday.

This decision will pass before the IMF's board on July 23, said Abdelatif Jouahri, governor of Morocco's central bank, noting that Morocco meets four out of the five criteria required by the IMF for eligibility to the PLL.

The PLL is an IMF credit facility that supports actual or potential needs of the balance of payments in countries with sound economic policies.

It was designed to provide insurance or to help solve crises related to internal or external economic shocks. Endit