Morocco readies dirham float
The International Monetary Fund said Morocco is ready to start floating its currency, local media reported on Tuesday. In June, the country’s central bank announced Morocco would take the first step of floating the dirham, Morocco’s official currency, in early July. “Morocco has been ready, as we’ve already said. It’s a sovereign and voluntary decision the Moroccan authorities have taken, as part of a long process of integrating the country into the world economy,” Moroccan financial daily l’Economiste quoted Nicolas Blancher, Morocco’s head of mission to the IMF’s Middle East and Central Asia Department, as saying. “We don’t see any big exposure to risk,” he noted. The Moroccan government has said studies are being carried out to ensure enough time for the process.