Morocco’s two-year, $4.5 billion flexible credit line agreement has been approved by the IMF

Morocco was granted a new two-year, $4.5 billion flexible credit line arrangement by the International Monetary Fund on Wednesday, according to a statement from the IMF.

“The agreement would strengthen Morocco’s external buffers and offer protection against downside risks in a highly unpredictable climate. The IMF stated that the authorities plan to see the new arrangement as a precaution.