The International Monetary Fund (IMF) has approved a USD 496 million disbursement to Morocco under its Resilience and Sustainability Facility (RSF), bringing the total funds received by Morocco to date under the arrangement to USD 1.24 billion, according to a statement by IMF released on Tuesday.
The financial support comes as Morocco continues to face economic headwinds, including a prolonged seven-year drought and high unemployment.
In the statement, the IMF indicated that Morocco has demonstrated resilience, with GDP growth slowing only slightly to 3.2% in 2024 on the backdrop of strong domestic demand. The IMF expects growth to accelerate to 3.7% in the coming years, supported by infrastructure projects and structural reforms.
Unemployment remains a key concern, particularly in the agricultural sector, which has been hit hard by job losses. The IMF pointed out the need for a strategy to boost employment and market competition while ensuring fiscal stability.
The Moroccan government has made progress on climate resilience, enacting measures to protect water resources, encourage renewable energy investment, and strengthen financial stability against climate risks. However, authorities postponed the introduction of a carbon tax, citing the need for further analysis and consultation.
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