Georgieva backs flexible credit line for Morocco

IMF executive board to consider request for $5 billion facility

Central Bank of Morocco, Rabat
Central Bank of Morocco, Rabat

International Monetary Fund managing director Kristalina Georgieva has backed a request by Morocco for a $5 billion flexible credit line (FCL).

“Considering Morocco’s very strong policy frameworks and track record”, Georgieva intends to “recommend approval of the FCL arrangement” when the IMF executive board next meets. The board held an informal discussion on Morocco’s request on March 6.

The FCL is available to countries deemed to have strong policy frameworks, and can be tapped without the

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