Morocco gets IMF loan to deal with environmental crisis

Drought is becoming major challenge to macroeconomic stability, official says

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Photo: Flickr/freeimage4life

The International Monetary Fund approved an 18-month, $1.3 billion loan to Morocco on September 28 under its Resilience and Sustainability Fund (RSF) programme. The decision came less than three weeks after a major earthquake rocked the Marrakech area, killing nearly 3,000 people.

The fund said climate change was fuelling drought conditions in the country. “Drought and water scarcity have become a major source of macroeconomic volatility,” deputy managing director Kenji Okamura said.


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