NO. 39


Financial and Banking News

Loans & Issues

Morocco Close to IMF Standby Accord

The International Monetary Fund (IMF) has agreed in principle to extend$130mn to Morocco over nine months in the form of an interim standby agreement.The facility, which is expected to receive final approval from the IMF at theend of August, succeeds a previous standby agreement which expired at the end of1989. Morocco is also negotiating for an extended fund facility (EFF) which is...