IMF Urges Morocco to Target 2% Inflation, Cut Debt Amid Economic Growth
\u201cWith inflation back to around 2%, Bank Al-Maghrib should continue its preparation to adopt an inflation-targeting framework,\u201d the IMF <\> stated<\><\> following its Article IV consultation mission to Morocco, conducted from January 27 to February 7.<\><\>
The country\u2019s inflation rate experienced a significant drop, falling from 6.1% in 2023 to 0.9% in 2024, according to Bank Al-Maghrib data. The central bank projects inflation to reach 2.4% this year.<\><\>
Roberto Cardarelli, who led the IMF mission, noted that \u201cthe current broadly neutral monetary policy stance is appropriate,\u201d adding that future policy rate changes should remain \u201cdata dependent.\u201d<\><\>
The IMF mission recalled Morocco\u2019s fiscal achievements, with <\> tax reforms<\><\> enabling higher-than-expected revenue and reducing the fiscal deficit to 4.1% of GDP in 2024, slightly better than the 4.3% target announced in the 2024 Budget.<\><\>\>\> \>\> \> \>\> \>\> \>\> \>\> \> \>\>
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