Morocco’s Abdellatif Jouahri Among World’s Top Central Bank Governors

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Morocco’s Abdellatif Jouahri Among World’s Top Central Bank Governors

Rabat – Abdellatif Jouahri, the governor of Morocco’s central bank, Bank AL-Maghrib, is among the top ten central bank governors in the world, according to Global Finance.

The New York-based Global Finance magazine featured Jouahri in the 2020 list of “Central Banker Report Cards,” giving him an “A” grade for his “good governing performance” during the COVID-19 crisis.

Global Finance outlined some of the measures the central bank introduced to cope up with economic setbacks Morocco suffered due to the COVID-19 crisis and drought.

The central bank cut its policy rate by 25 basis points in March to 2% to work out the impact of drought and COVID-19.

“In April, it tripled the supply of funds to commercial banks and expanded the range of bonds and securities it would accept in exchange for refinancing. The Professional Group of Moroccan Banks agreed to allow individuals and businesses to postpone payment of loan installments for three months upon written request,” the magazine said.

The Global magazine also recalled that Bank Al-Maghrib cut its policy rate by 50 basis points in June to 1.5% to support Morocco’s economy, which has been facing serious shocks.

Global Finance quoted Jouahri’s statement on July 29, in which he acknowledged that the economic performance in Morocco “was not enough to meet the increasing social aspirations.”

Abdellatif Jouahri has earned the title of one of the world’s top central bank governors for four years in a row. 

Abdellatif Jouahri became the governor of Morocco’s central bank in 2003. Throughout his career, he has earned several distinctions and awards.

Founded in 1987, Global Finance magazine evaluates the performance of bank governors from nearly 83 countries.

Global Finance launched its annual “Central Banker Report Cards” in 1994. The grades are based on a scale from “A” to “F.”

Source: moroccoworldnews.com