Moroccan finance minister holds talks with IMF and U.S officials

Moroccan minister of economy and finance, Fathallah Oualalou, who represented Morocco in the annual assemblies of the World Bank (WB) and the International Monetary Fund (IMF), conferred here on Tuesday with IMF and U.S officials on ways to foster Morocco's cooperation with the Fund and the USA.

Morocco's efforts to consolidate its economic and financial situation topped Oualalou's talks with IMF director general, Michel Camdessus.

The IMF chief expressed satisfaction that Morocco was not hit by the turbulence that affected most emerging countries. He also voiced hope that Morocco will continue its efforts to maintain fundamental balance.

The Moroccan official also reviewed Morocco's economic cooperation with the United States during a meeting with assistant-administrator of the U.S Agency for International Development, Ms. Ann Van Dusen.

Oualalou is to meet this Wednesday U.S. Under-secretary of state for economic affairs, Stuart Eizenstat.

Eizenstat, who visited Morocco last June, announced an American initiative aimed at establishing economic partnership between USA and Morocco, Algeria and Tunisia.

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.

In a bid to materialize its initiative, Washington will host a ministerial meeting at the end of the year and a regional conference on investment will be convened by the U.S. administration early next year.