Morocco read­ies dirham float

China Daily (Hong Kong) - - BUSINESS -

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.

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