The North Africa Post
“Unlike other emerging economies, Morocco didn’t loosen currency restrictions under pressure, so authorities can take their time with future steps,” Nicolas Blancher, the IMF’s mission chief for Morocco, told the press in a conference call.
Morocco is adopting a policy that enables an “orderly and gradual” transition, Blancher said.
Morocco started on January 15 the gradual floating of its currency, raising the official band of dirham’s fluctuation to 2.5 percent above or below the official rate from the previous 0.3 percent.
Authorities said the measure was part of a broader plan to boost growth by opening the Moroccan economy and making it more resistant to external shocks.
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