IMF Managing Director: Morocco, Model of Social Construction, Development

Managing Director of the International Monetary Fund (IMF), Kristalina Georgieva, stated, on June 19 in Rabat, that Morocco, with its dynamic economy, is a social construction and development model.

In a meeting with the Head of Government, Aziz Akhannouch, on the sidelines of her official visit to Morocco to prepare for the forthcoming annual meetings of the World Bank (WB) Group and the International Monetary Fund (IMF), and to strengthen the existing partnership between the Kingdom and the International Monetary Fund (IMF), Georgieva underlined that “Morocco is a model in managing the post-crisis situation, thanks to targeted government action over a limited timeframe.”

For his part, Akhannouch recalled Morocco’s latest preparations to host the annual meetings of the World Bank (WB) Group and the International Monetary Fund (IMF), expressing the Kingdom’s pride in hosting such a global event, which testifies to the considerable interest that the two international financial institutions have in Morocco.

Akhannouch also noted that this event is an opportunity to highlight Morocco’s significant initiatives in several fields of development under the enlightened leadership of His Majesty King Mohammed VI and to publicize the characteristics of Moroccan civilization and culture, assuring that through its hosting of this event, Morocco represents the African continent.

The Head of Government outlined the government’s broad policy guidelines, which focus mainly on economic recovery, the extension of social protection and public and financial sector reforms, citing the foundations of the government’s economic and social policies, and its constant commitment to improving the different macroeconomic balances and ensuring the optimal implementation of the Kingdom’s major development strategies in several sectors.

In this regard, Akhannouch added that this orientation is enshrined in the priorities set out in the Finance Bill for 2023, through the strengthening of the foundations of the social State that His Majesty the King called for, the promotion of investment, the management of water resources and the provision of necessary resources to guarantee the sustainability of the reforms.

Akhannouch and Georgieva discussed cooperation prospects between Morocco and the International Monetary Fund (IMF), focusing on the Kingdom’s development priorities under the impetus of His Majesty King Mohammed VI.

The two parties also praised the intense bilateral consultations that took place during the visits of several International Monetary Fund (IMF) officials to Morocco as part of their technical assistance or in preparation for the annual meetings of the World Bank (WB) Group and the International Monetary Fund (IMF).

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