Full liberalization of Moroccan economy not on agenda, Official
Morocco, Economics, 10/9/2004

A full liberalisation of the Moroccan economy "is not on the agenda and even international institutions see that the level of our liberalisation is quite good," said Mohamed Bougroun, director of "l'Office des Changes."

"In any liberalisation process, including in exchange regulations, the point is not speed, but its irreversible nature," Bougroun told "La Nouvelle Tribune," adding irrersibility gives the process the necessary credibility, for any backward step could be "a defavorable sign for international markets and foreign investors."

He stressed that the liberalisation process is not an end in itself, but a means to attract foreign investments to Morocco and promote its exports, goods and services, noting the processus has helped increase exports, services and other revenues and capital inflow.

Morocco made important progress in the liberalisation of currency exchange, Bougroun asserted adding that current operations are completely liberlised -- since the adhesion of Morocco in 1993 to IMF Article 8 On General Obligations -- allowing foreign investments benefit by convertibility and Moroccan entreptrises freely access and pay back foreign funding.

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