VOL. XXXIII
NO. 31
7-MAY-1990
Financial and Banking News
Loans & Issues
Morocco Seeks IMF Approval through Budget Changes
In a clear attempt to improve its chances of securing a standby creditagreement from the International Monetary Fund (IMF), Morocco has devalued itscurrency and re-opened discussions on its 1990 budget. The Moroccan Central Bankannounced on 2 May that the Durum would be devalued by an average of 10% withimmediate effect. The next day, Finance Minister Mohammed Berrada...
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