Morocco calls for reorienting strategies to human development
Morocco-USA, Economics, 4/29/1999

Morocco called Wednesday in Washington for reorienting politics and strategies to human and social development.

"The widening of poverty among vulnerable social layers and the increase of joblessness in some countries require that policies and strategies be reoriented to human and social development," Moroccan economy and finance minister, Fathallah Oualalou told the Development Committee of the World Bank (WB) and the International Monetary Fund.

The Development Committee is a joint body of the IMF and WB in charge of transferring real resources to developing countries.

The reorientation of economic policies has become a necessity to ensure a better distribution of the fruits of growth to contribute to the collective welfare and to use the macroeconomic balance in consolidating social development, Oualalou said.

The Moroccan minister also urged the international community to ponder means of alleviating the indebtedness of medium-income countries. Debt-alleviation should take into account the level of the Gross Domestic Product (GDP) and the social development needs of these countries, he explained.

While in Washington, Oualalou will represent Morocco in a meeting on the U.S initiative, known as the Eizenstat initiative, to establish an economic and commercial partnership with Morocco, Algeria and Tunisia.

The meeting will be attended by representatives of Algeria and Tunisia and U.S. Undersecretary of State for Economic Affairs Stuart Eizenstat.

The initiative aims to "encourage the three Maghreban nations to harmonize their custom systems" in such a way to intensify bilateral trade exchanges and hence, publicize their potentials to U.S. investors.

The initiative revolves around establishing a permanent dialogue at the highest level between the USA and the Maghreban countries, encouraging these countries to lift barriers to ensure a better flow of trade exchanges and materializing inter-Maghreban complementarity leading to better political relations.

Previous Stories:
  Belgium-financed water project dedicated in Ouarzazate   (4/15/1999)
  World Bank loans Morocco $14.2 million   (3/1/1999)
  USA ready to help Morocco alleviate indebtedness   (2/10/1999)

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