June 17, 2014 / 4:02 PM / 4 years ago

Morocco is finalising a new line of credit demand with the IMF-C.Bank chief

RABAT, June 17 (Reuters) - Morocco is finalising a new two-year line of credit with the International Monetary Fund (IMF) and it would be less than $6.2 billion granted by the fund in 2012-2014, central bank governor Abdellatif Jouahri said.

IMF’s chief Christine Lagarde said last month that the fund was ready to renegotiate a $6.2 billion precautionary line of credit for Morocco if its government believed it was needed.

The IMF credit line provided reassurance to Morocco’s foreign lenders, investors and rating agencies, allowing it to tap international capital markets at favourable borrowing terms.

Reporting By Aziz El Yaakoubi; Editing by Sonya Hepinstall

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