RABAT (Reuters) - International Monetary Fund chief Christine Lagarde said on Friday 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 Moroccan finance minister said the North African kingdom was interested in having the insurance of the precautionary line again. The current line of credit ends in August.
Morocco's Finance Minister Mohamed Boussaid told Reuters on Friday that the government still planned a Euro-denominated bond issue this year. He declined to say how much, but last year he had said it could be as much as 1 billion euros.
Morocco's government has started to tackle reforms of the system of food and energy subsidies which it uses to keep down the living costs of millions of people, as required by its international lenders.