The Arab Monetary Fund (AMF) wishes to support the efforts of its member countries to implement economic, financial and structural reforms, in the face of various challenges, by several means, including the financing of balance of payments and budget needs. public, and trade finance through its affiliate, the Arab Trade Finance Program, in addition to its role in promoting policy dialogue and consultation on economic, financial and development issues through its various forums. and activities, providing technical advice to member countries in economic, fiscal and financial policies and the training of officials from member countries through its Training and Capacity Building Institute.
The AMF also wishes to provide financial and technical support to its member countries during this period, given the developments due to COVID-19 and the resulting economic and financial repercussions in various aspects. The AMF’s assistance in this regard supports the reform efforts of member countries and the measures they are taking to stimulate the economy and provide liquidity to contain the negative effects of the virus outbreak. In this context, the AMF disbursed today, September 29, 2021, the second tranche of the loan under the Structural Adjustment Facility in the Public Finance Sector, contracted with the Moroccan government on May 23, 2020. The tranche amounted to Arab Accounting 20.562 million dinars, or the equivalent of approximately US $ 87.5 million, aimed at freeing up resources to help the country implement tax reforms, while strengthening its resilience in the face of different challenges. The AMF closely follows the evolution of the Moroccan economy and the challenges it faces due to the current circumstances and works through a fruitful partnership with the Moroccan government to help the country meet the various challenges in the more efficient. As such, the AMF is studying another loan for the Kingdom of Morocco in order to support an environment conducive to Small and Medium Enterprises (SMEs). The procedures for granting the loan will be completed shortly. The AMF is currently studying financing requests from other member countries, and processing requests according to rapid procedures, in order to provide support as quickly as possible, so that borrowing member countries can meet financing needs and improve their situation. financial to face the various challenges. , especially at such times.
Â© Press release 2021
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