NO. 26


Financial and Banking News

Budgets & Revenues

Morocco's IMF Standby Expires, Negotiations Continue on EFF

Morocco's IMF standby credit arrangement expired on 31 March, with about halfof the $100mn facility left undrawn. The agreement has been effective since 20June 1990. Morocco is currently negotiating with the fund for an extended fundfacility (EFF), which is similar to a standby credit arrangement, but isavailable for a longer period. Discussions have been...