Posted by: Ya Biladi
The World Bank treasury, a body that provides capacity building and investment management services to institutions such as central banks, sovereign wealth funds and national pension funds, has declared on Wednesday 3rd of January that Morocco has been added as a new member to the Government Debt and Risk Management (GDRM) program, said the international financial institution on its official website.
This program, initiated by the World Bank treasury and financed by the Swiss State Secretariat is set to assist middle-income countries and help them better their macroeconomic and fiscal management in an attempt to decrease vulnerability and fight back financial shocks.
According to the same source, the GDRM Program will also benefit Morocco’s economy by providing «expert advisory services». The latter is expected to guide the country in governing debt and risk portfolio while strengthening its technical capacity development.
This program, made in 2011 to exclusively assist low-income countries has also welcomed Ukraine as a new member next to Morocco. It includes in total now 14 countries namely Albania, Azerbaijan, Colombia, Egypt, Ghana, Indonesia, Macedonia, Peru, Serbia, South Africa, Tunisia, and Vietnam.