Morocco is model in social construction, development – IMF DG

On Jun 20, 2023

The International Monetary Fund’s (IMF) managing director, Kristalina Georgieva, stated on Monday in Rabat that Morocco, with its thriving economy, is a role model for social building and development.

During a meeting with the Head of Government Aziz Akhannouch on the sidelines of an official trip to Morocco to prepare for the upcoming annual meetings of the World Bank Group and the IMF, which will be held in Marrakech next October, and to strengthen the existing partnership between the Kingdom and the IMF, Georgieva stated that Morocco is a role model when it comes to managing the post-covid crisis thanks to targeted government actions that are limited in time.

In a press release from the Department of the Head of Government, Akhannouch recalled Morocco’s recent preparations to host the annual meetings of the World Bank Group and the IMF, expressing the Kingdom’s pride in having been selected to host such a prominent international event, which demonstrates the significant interest that the international financial institutions have in Morocco.

The Head of Government noted that this occasion offers a chance to draw attention to the significant steps our nation has taken toward development in various areas, under the wise leadership of HM King Mohammed VI, as well as to publicize the distinctive aspects of Moroccan civilization and culture, ensuring that Morocco, by hosting this significant gathering, represents the entire African continent.

In this regard, Akhannouch went over the government’s primary policy priorities, which principally center on economic recovery, expanding social protection, tax reform, public sector reform, and financial sector reform.

The Head of Government also recalled the fundamental tenets of the government’s economic and social policies and reaffirmed the government’s resolve to continue taking action to strengthen the various macroeconomic balances and guarantee the best execution of the Kingdom’s main development strategies in the various sectors.

The main priorities listed in the Finance Act for 2023, which include strengthening the pillars of the social state the Sovereign desires, encouraging investment, addressing the issue of water resource management, and providing the resources necessary to ensure the sustainability of the reforms, reflect this strategy, according to Akhannouch.

HM King Mohammed VI’s aspirations for the Kingdom’s growth were highlighted as the two parties talked about the potential for cooperation between Morocco and the IMF. They also applauded the depth of the bilateral discussions that occurred as a result of the several trips that IMF officials took to Morocco to provide technical support and make preparations for the annual meetings of the World Bank Group and the IMF.