This paper discusses Morocco’s First Review Under the Arrangement Under the Precautionary and Liquidity Line (PLL). Significant progress was made in implementing the reform agenda. The program remains broadly on track, and Morocco continues to meet the qualification criteria for a PLL. The...

This 2014 Article IV Consultation highlights that Morocco has made important strides in maintaining macroeconomic stability in a difficult environment, but challenges remain to reduce fiscal and external vulnerabilities, strengthen growth, create jobs, and tackle poverty. Growth slowed in 2014...

This Selected Issues paper presents an overview of the cross-border expansion of Moroccan banks in sub-Saharan Africa (SSA). It discusses policies to minimize possible negative spillovers and address the main supervisory challenges. It builds on the analysis and main results of a Pan-African...

Morocco’s track record of sound economic policies helped it withstand the recent economic crisis and regional social events. High oil prices have contributed to a build-up of fiscal and external pressures, but the government has taken action to address these vulnerabilities and are committed...

This paper presents an update to the Financial System Stability Assessment on Morocco. Major reforms have been achieved since the 2002 Financial Sector Assessment Program (FSAP) within a policy of actively promoting economic and financial sector opening. The 2002 FSAP recommendations have been...