UPDATE 3-Morocco to start liberalising dirham by June -cenbank

Tue Apr 18, 2017 2:23pm GMT
 

* Morocco working with IMF on currency reforms

* Cenbank sees gradual liberalisation of dirham

* Finance minister says local sukuk before summer (adds currency rate, trade deficit)

By Samia Errazzouki

RABAT, April 18 (Reuters) - Morocco plans to start the process of floating its dirham currency by June, the central bank governor said on Tuesday, setting a tight schedule for a key part of an economic liberalisation programme agreed with international lenders.

In comments to Reuters, Abdellatif Jouahri also said the process to full exchange rate flexibility might take 15 years.

North Africa's biggest energy importer, Morocco has been working with the International Monetary Fund on liberalising its currency as its finances have strengthened, helped in part by lower global oil prices.

Late last year, the government said the first stages of a move to a flexible exchange rate would be implemented in the second half of 2017.

On Tuesday Jouahri signalled an earlier start.   Continued...

 
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