|Approval Date||22 Aug 1989|
|Signature Date||11 Sep 1989|
|Planned Completion Date||30 Jun 1994|
|Last Disbursement Planned Date||30 Jun 1994|
|Sovereign / Non-Sovereign||Sovereign|
|DAC Sector Code||15124|
The present operation is a support to the Government of the Kingdom of Morocco for the implementation of the measures contained in its medium-term economic adjustment program. It will be used to finance part of the foreign exchange expenditures for supplies and eligible equipment and necessary for the proper implementation of the adjustment program which has been defined for the period 1988-1989. This program is in keeping with the objectives set by the Moroccan authorities for the period of the Orientation and Social Development Plan covering the period 1988-1992. The program essentially consists of introducing reforms to: (i) conduct a fiscal, fiscal and monetary policy consistent with the objectives of price stability and the financing of private investment at a reasonable cost; (ii) pursue liberalization of foreign trade accompanied by a flexible exchange rate policy as well as export and investment promotion; (iii) develop a forward-looking strategy for debt management.
The main objectives of the program are to: (i) ensure a GDP growth rate of around 4.6% per annum; (ii) balance public finances, while raising the level of investment, which will not only allow for more sustained growth and more sustainable, but also to ensure a better life for the population; (iii) strengthen the country's external credit, its ability to meet debt service obligations, and allow it to appeal again to the international financial market.
The program will benefit directly to the Government of the Kingdom of Morocco.
African Development Bank
|Last Update||09 May 2021|