Bank Al-Maghrib Governor Abdellatif Jouahri revealed the central bank's intention to liberalize the dirham in line with the requirements of the International Monetary Fund (IMF), "but it is necessary to ensure the readiness of small and medium-sized enterprises before liberalizing it".
"The Moroccan central bank does not have a foreign reserve crisis, and the IMF believes that conditions are favorable for the liberalization of the dirham," Jouahri explained.
Bank Al-Maghrib kept its key interest rate at 3 percent, as its monetary policy helps reduce inflation. The central bank expects inflation to fall to 2.2 percent in 2024 from 6.1 percent last year. The bank expects the fiscal deficit to remain stable at 4.4 percent in 2024, before contracting to 4 percent.
Source (Al-Arabiya.net Website, Edited)
