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RECENT
KEY EVENTS (Apr. 1997 - Oct. 1998)
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Events
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Apr·26th-May·2nd·97:
The UN's special envoy for Western Sahara, James Baker, went to Morocco
on a fact-finding trip.
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Sep·16th·97:
Former US Secretary of State, James Baker, announced that Morocco and the
Polisario Front had reached an agreement over the Western Sahara in order
to hold a referendum in 1998.
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Oct·10th·97:
The Polisarian Front grants Moroccans' right to live in an independent
Western Sahara, regardless of the referendum's results.
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Nov·14th·97:
Legislative elections: Polls opened in parliamentary elections that, for
the first time, since Morocco gained its independence in 1956, would see
all of the country's legislators directly elected. Voters chose from among
3319 candidates from 16 parties for 325 seats in the Chamber of Representatives.
The new system had been established in a constitutional reform adopted
in September 1996 that changed the country's 333 member legislature into
a two-house system.
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Nov·20th·97:
Former president of Zaire (now called Democratic Republic of Congo), Mobutu
Sese Seko, was hospitalized in Tanger.
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Dec·5th·97
: Election of the 275 member Chamber of Councillons, or senate, through
an indirect system concerning town councils, regional assemblies, chambers
of commerce and representatives of industry, agriculture and trade unions.
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Jan·7th·98:
Mr Abdelouahed Radi, a member of the political bureau of the Socialist
Union of Popular Forces (USFP) was elected Chairman of the House of Representatives,
getting 184 voices .His rival Mohamed Laenser from the Popular Mouvement
(MP) got 133 voices.
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Jan·8th·98:
Mr. Mohamed Jalal Essaid, from the Constitutional Union (UC), was elected
Chairman of the House of Councillors , getting 160 voices while his unique
rival Mr. Badreddine Snoussi from the National Assembly of the Independents
(RNI) got 71 voices.
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Jan·15th·98:
The Spanish minister of foreign affairs, Mr. Abel Matutes, stressed the
excellent relations existing between Morocco and Spain at the end of his
brief visit to Morocco where he was received by his Majesty King Hassan
II.
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Feb·1st·98:
King Hassan II nominated Mr.Abderrahman el Youssfi as a Prime minister
replacing Mr Abdellatif Filali. Mr.Youssfi, aged 74, is the first secretary
of the Socialist Union of Popular Forces (USFP).
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Feb·11th·98:
King Hassan II appointed Mr.Abderrahman el Youssoufi, the first secretary
of the Socialist Union of Popular Forces (USFP), as Prime minister designate.
Mr.Youssoufi, aged 74, started to conduct consultations with the leaders
of other parties in a bid to form a government.
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Apr·24th·98:
The Moroccan 325-seat House of Representatives adopted at a plenary session
the program presented by the socialist-led Government of Prime Minister
Abderrahman Youssoufi. The program was approved by the majority of 174
votes for, no vote against and 23 abstentions.
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Apr·27th·98:
Moroccan premier Abderrahmane Youssoufi and Spanish peer José-María
Aznar voiced satisfaction over the evolution of Moroccan-Spanish cooperation
and praised the high-quality and exceptional ties existing between the
two brotherly peoples.
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May·18th-21th·98:
The 7th Moroccan-European Union parliamentary meeting was held in Rabat
to look into ways of fostering cooperation, dialogue and understanding
between Morocco and the EU. The meeting assessed Euro-Moroccan relations
and debated the progress made in building Euro-Mediterranean partnership.
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May·25th·98:
An Amnesty International regional office for North Africa and the Middle
East was inaugurated in Rabat by the international organization's Secretary
General Pierre Sane, as "a sign of confidence in the experience and efforts
made by the Moroccan civil society and human rights activists".
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Jun·1st·98:
Algeria backed UN settlement plan for Western Sahara, by considering it
as a "decolonization question that falls within the prerogatives of the
United Nations".
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Jun·2nd·98:
Moroccan Prime Minister, Abderrahmane Youssoufi, accused the Polisario
of being behind the delays in the identification of would-be voters in
the referendum that the United Nations planned to hold in Western Sahara".
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Jul·13th·98:
UN Secretary-General Kofi Annan recommended the extension of the mandate
of the United Nations Mission for the Referendum in the Sahara "MINURSO"
for an additional period of two months until September 21, 1998.
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Jul·20th·98:
The Security Council approved the extension of the mandate of the United
Nations Mission for the Referendum in the Sahara (MINURSO) for an additional
two months that would expire on September 21, 1998.
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Jul·26-29th·98:
Italian foreign minister, Lamberto Dini, visited Morocco to examine ways
to enhance cooperation between Morocco and Italy.
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Jul·28th·98:
The Al-Quds (Jerusalem) Committee, at the end of its two-day 17th
session in Casablanca, called on Islamic countries to stop normalizing
relations with Israel until it abode by international legality and urged
all countries of the world to recognize the Palestinian state. The Committee
was set up in 1975 and gathers Morocco, Palestine, Iran, Saudi Arabia,
Egypt, Syria, Iraq, Lebanon, Jordan, Bangladesh, Pakistan, Indonesia, Senegal,
Guinea, Niger and Mauritania.
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Jul·30th·98:
Morocco and Italy concluded in Rabat a cooperation agreement to struggle
against clandestine immigration.
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Sep·7th·98:
The Euro-Mediterranean Tourism Organization was body headquartered in
Rabat.
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Sept·9th-12th·98:
The President of Niger, Ibrahim Mainassara Bare, visited Morocco in order
to conclude a package of cooperation accords between the two African countries.
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Sept·10th-13th·98:
The Sudanese President El-Bechir visited Morocco accompanied by a delegation
comprising ministers of foreign affairs, international cooperation, investment,
foreign trade and agriculture.
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Sep·17th·98:
French foreign minister, Hubert Vedrine, arrived in Morocco for a work
visit "as a part of the two countries' efforts to consolidate the secular
relations binding Rabat and Paris".
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Sep·23th·98:
The Moroccan Prime Minister, Abderrahmane Youssoufi, said that the self-determination
referendum in Western Sahara could not be held in December, as initially
scheduled, in view of the difficulties that were still hindering the identification
of all would-be voters.
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Sep·24th·98:
The US Defense Secretary, William Cohem, expressed the US support to UN
special envoy for the Sahara, former Secretary of State James Backer, to
implement the United Nations settlement plan for the Sahara.
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Oct·10th·98:
Moroccan Premier, Abderrahmane Youssoufi, returned from a successful visit
to France during which he managed to get a 750 million dollar French aid
that would enable the new Moroccan Socialist led-government carry out several
socio-economic development projects dealing with the alleviation of Morocco's
debt, financial assistance to Moroccan small and medium enterprises, education
promotion, vocational training in addition to water and electricity projects
in rural zones.
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POLICIES
/ REGULATIONS
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Economic
Policy
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| Since
Morocco embarked on an IMF Structural Adjustment Programme in the 1980s,
it has implemented a wide-ranging series of economic reforms. The budget
defecit as well as the inflation rate fell as a result of this economic
reforms. The kingdom also adopted tighter fiscal and monetary policies,
liberalised foreign trade and deregulated economic sectors. A privatization
programme was also launched to improve the economic situation. The deregulation
and modernisation policies consists in:
- introduction
of convertibility for the national currency (dirham)
- updating
of company, trade and labour laws
- a new security
law and the reorgansiation of the securities market
- amendments
to banking laws legislation organising the accountancy profession
- privatisation
of a serie of industries
By this reforms,
Morocco tries to create a better economic situation, to improve the legal
and commercial environment, and to encourage a stronger private sector.
The private sectors plays a crucial role in the economic growth according
to the considerations of the Moroccan authorities. The government plans
to implement a medium-term economic strategy up to the year 2000 which
targets the GDP growth at an average of 6 % per year and a decrease of
the budget defecit to less than 1 % of GDP. This strategy also includes
the diminution of the inflation rate in order to improve external competitiveness.
This will encourage domestic and foreign investment, so the expectations
of the Moroccan government. |
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Monetary
Policy
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To
improve the international competitiveness of Morocco, the government aims
to maintain the inflation rate low. In order to stimulate investment, the
interest rates decrease. The Moroccan authorities try to hold up a struict
monetary policy and on the other side to originate conditions that allows
the reduction of the costs of the bank loans.
The Moroccan
monetary ploicy is excercised indirect control over the banks, based on
the reserve ratios and the accessibility of refinancing with the Bnak Al-Maghrib.
A 10% of the Deposists is the minimum reserve. Banks must also have treasury
bonds with a value of 15 % of the demand deposits. A minimum rate of loans
does not exist. |
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under
construction
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Geographical Data
