The IMF latest statements sound more
like an ultimatum to the Moroccan government. The policy of
procrastination is no longer acceptable and the IMF can withdraw the
liquidity precautionary line if the reforms are dawdling and unyielding
the expected results. The IMF confirmed Morocco’s continued eligibility
for the USD 6,2billion liquidity precautionary line.
The IMF review confirmed that Morocco is
still able to honor its commitment to implement drastic macroeconomic
reforms. The decision to grant the continuity of the IMF precautionary
line was issued during the IMF administrative council last Wednesday
during which it reviewed Morocco’s performance.
The participants to the meeting surveyed
the reforms implemented by the Moroccan government. They concluded that
despite the budget deficit, the Moroccan government is still capable of
fulfilling its commitment towards the international financial
institutions. The IMF urged the Moroccan government once again to
implement urgent reforms to contain the deficit at all levels and to
control public spending.
The IMF urged the Moroccan government to
start with the tax reform to ensure equality and to enhance
competitiveness? in addition to the necessity to launch an efficient
fiscal policy.
