IMF calls on Morocco for more efforts to boost employment

CNC
Added On August 3, 2016

RABAT, Aug. 2 (Xinhua) -- The International Monetary Fund (IMF) on Tuesday called on Morocco to continue efforts to boost employment.

Nicolas Blancher, an IMF official, made the call at a Washington conference.

Blancher noted the importance of education reforms in Morocco and welcomed the National Employment Strategy, which includes a range of measures to build momentum in this area.

He called for expanding job offers to all sectors of the economy while taking into account the integration of the informal sector.

He also noted that Morocco has made significant efforts in reducing fiscal and external vulnerabilities, despite difficult global and regional economic conditions.

The IMF supports the government's policy in terms of fiscal resilience, said Blancher, adding that a flexible exchange rate regime is helpful for Moroccan economy to absorb shocks.

He also welcomed the pension reform initiated by the government and the constant growth of the financial sector.

The conference call came amid a new two-year arrangement Morocco has got from the IMF under the Precautionary and Liquidity Line (PLL) for 3.47 billion U.S. dollars.

The access under the arrangement in the first year will be equivalent to about 1.73 billion dollars.

The new PLL arrangement will provide Morocco with useful insurance against external shocks.