Journal of Applied Finance & Banking

The Economic Relevance of the Current Exchange Control Regime of Morocco: Morocco can adopt Full Convertibility of the Dirham?

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• Abstract

  This article has the purpose to analyze the relevance of adopted in Morocco, in view of the proposal of a new exchange controls regime for Morocco. Specifically, this article aims to provide answers to the following question: the exchange control regime in Morocco characterized by convertibility for current transactions and financial transactions of non-residents and inconvertibility for financial transactions of residents is appropriate for the case of the Moroccan economy? Or in other words, Morocco may establish a full convertibility regime of the dirham. The methodology followed to provide answers to this question will firstly present the criteria determining the choice of exchange control regimes and to make the application of these criteria to the case of the Moroccan economy.