VOL. XXXII

NO. 31

8-MAY-1989

Financial and Banking News

BUDGETS AND REVENUES

Morocco Relaxes Exchange Control

Two recent policy changes in Morocco have had the effect of relaxing thecountry's hitherto strict exchange controls. Small transfers abroad, of up toMD2,000 ($240), are now possible for all residents, using simple procedures. Inaddition, the minimum requirement for expatriates to open convertible foreigncurrency accounts with Moroccan banks has been cut from MD500,000 to MD50,000($6,000),...