Arab Monetary Fund loans Morocco 211 mln USD to support state budget

Source: Xinhua | 2020-06-06

The Arab Monetary Fund (AMF) has loaned Morocco 211 million U.S. dollars to support its state budget amid COVID-19 concerns, said a statement by the fund on Friday.

This new loan will boost a reform program in the public finance sector in face of current circumstances, said the statement.

This is the second loan granted by the fund to the North African country in a month.

The AMF had on May 7 granted another loan to Morocco of 127 million dollars aimed at supporting the country's external financial position and meeting emergency needs.