ALBAWABA - The International Monetary Fund approved a two-year, $5 billion precautionary credit line for Morocco to prevent financial crisis.
The IMF said that the Moroccan authorities had voiced their intention to use the credit line as a precautionary measure.
Morocco requested the loan after being removed from the Financial Action Task Force's grey list of countries with deficiencies in its anti-money laundering and terrorist financing regimes.
An IMF statement highlighted that the country's strong overall economic policies and institutional framework allowed its economy to remain resilient in the face of multiple negative shocks over the past three years.
