Abdul Latif Al-Jawahri, the Governor of the Central Bank of Morocco, said that "the market of dealing in foreign exchange between banks is going well and there is no need for the intervention of the bank to support the dirham," stressing that "it is too early to talk about the liberation of the dirham more than it is now after Morocco started dealing with a more flexible exchange rate last January."
Al-Jawahri explained that "the central bank's foreign exchange reserve is enough to buy goods and services for 5 months and 10 days in 2018," He pointed out that "total public debt is expected to rise to 82 percent in 2018 and 81.4 percent in 2019."
The Moroccan central bank predicted that economic growth in GDP would fall to 3.5% in 2018, compared to 4.1% in 2017, attributing his estimates of GDP growth to a decline in agricultural sector growth, announcing that the Kingdom will launch the first Islamic Sukuk and Government bonds, on 5 October worth 1 billion dirhams.
Source: (Al-Arabi Al-Jadeed newspaper, Edited)
