IMF says it expects to back Morocco's request for $5 bln flexible credit line

The International Monetary Fund on Monday said Managing Director Kristalina Georgieva intended to recommend approval of Morocco's request for a $5 billion, two-year arrangement under the Flexible Credit Line (FCL) in coming weeks. The IMF said its executive board met on Monday in an informal session to review Morocco's request, and Georgieva would back the request given Morocco's "very strong policy frameworks and track record."

The board is expected to make its decision on the matter in coming weeks, the IMF said.