A press release announces that the Executive Board of the International Monetary Fund (IMF) approved a two-year agreement for Morocco under the Flexible Credit Line (LCM) for an equivalent amount on March 3, 2023 & agrave; 3.7262 billion SDRs (approximately $5 billion, or 417% of the quota).

After discussions with the Moroccan authorities as part of the 2022 Article IV consultations, from October 24 to November 4, the IMF estimated that global shocks and drought slowed the Moroccan economy that year, but growth is expected to resume in 2023, although in a very international environment uncertain, especially because of the war in Ukraine. Last December, Abdellatif Jouahri, wali of Bank Al-Maghrib (BAM), announced that an LCM with the IMF is envisaged in March 2023. Given the strength of Morocco's economic policy frameworks and balance sheet, the managing director of the IMF, Kristalina Georgieva, recommended approval of this agreement in early March.