Resilience and Growth Through Sustained Adjustment: The Moroccan Experience

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This paper reviews and analyzes how Morocco overcame the economic and financial crisis it confronted at the beginning of the 1980s. It highlights the challenges that still confront the Moroccan economy and the lessons that can be drawn from Morocco's adjustment experience.
 

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Contents

Preface
19
1ntroduction 1
25
Performance Under Adjustment Programs 10
30
1V Fiscal Policy 11
31
Monetary Management and Financial Sector Restructuring 22
36
V1 Liberalization of the Economy 30
36
V11 Move to Convertibility 37
36
Appendix 11
116
Monetary and Credit Policy Measures Adopted by the Credit
116
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Page 19 - Schwede and CW Bailey for their efficient assistance in the preparation of this paper. The authors wish to express their appreciation to the oil companies who provided data for this study and released the examples used to illustrate this paper. REFERENCES 1. Archie, GE: "The Electrical Resistivity Log as an Aid in Determining Some Reservoir Characteristics," Trans., AIME (1942), 146, 54.

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