IDEAS home Printed from https://ideas.repec.org/p/imf/imfscr/2021-002.html
   My bibliography  Save this paper

Morocco: 2020 Article IV Consultation-Press Release; Staff Report; and Statement by the Executive Director for Morocco

Author

Listed:
  • International Monetary Fund

Abstract

As in many other countries in the world, the pandemic has exerted a heavy toll on Morocco’s population. Its economy has also been hit by a severe drought that affected agriculture output. The authorities’ prompt response has helped contain the social and economic damage from the shocks but could not avoid a severe contraction of GDP. The loss of tax revenues deteriorated the fiscal position, while the fall in tourism receipts widened the current account deficit. However, greater access to external borrowing, including the full drawing of the IMF Precautionary and Liquidity Line (PLL) arrangement, has helped maintain international reserves at adequate levels so far in 2020. A gradual economic recovery is expected to begin in 2021, assuming the impact of the drought and the health crisis wane next year. The recent rise in COVID-19 cases, both in Morocco and its main trading partners, suggests that this outlook remains subject to significant downside risks.

Suggested Citation

  • International Monetary Fund, 2021. "Morocco: 2020 Article IV Consultation-Press Release; Staff Report; and Statement by the Executive Director for Morocco," IMF Staff Country Reports 2021/002, International Monetary Fund.
    • Handle: RePEc:imf:imfscr:2021/002
    as

    Download full text from publisher

    File URL: http://www.imf.org/external/pubs/cat/longres.aspx?sk=49987
    Download Restriction: no
    ---><---

    More about this item

    Keywords

    ISCR; CR; vaccination campaign; vaccine dose; draft budget law; coupon rate; government policy; COVID-19; Credit; Loans; Maghreb; Global;
    All these keywords.

    NEP fields

    This paper has been announced in the following NEP Reports:

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:imf:imfscr:2021/002. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    We have no bibliographic references for this item. You can help adding them by using this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Akshay Modi (email available below). General contact details of provider: https://edirc.repec.org/data/imfffus.html .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.