The government of Morocco plans to ask IMF a precautionary and liquidity line (PLL), Minister of Finance, Mohamed Boussaid, said on May 23, 2016. “The amount and other details related to the line will be discussed later,” he said.

The IMF has, in 2014, granted Morocco a $5 billion precautionary and liquidity line which will expire in August 2016.

A PLL is an IMF loan which allows the provision of funding to respond to real or potential needs for the balance of payments of countries with good economic policies. It was developed to serve as a an insurance or help solve crises related to internal or external economic shocks.

Moreovern Boussaid announced that the Moroccan government scaled down its growth forecast for 2016 to less than 2%, from 3% as a result of an expected decrease in grain output.  

The Cherifian kingdom, which has been suffering its worst drought in the past three decades, projects a grain output of 3.35 million tons during the 2015-16 season against 11 million tons during the previous season.