Summary: Macroprudential policies (MaPP) can play an important role in mitigating financial stability risks in Morocco. MaPP aims to increase the overall resilience of the financial system, contain the buildup of systemic risks over time, and address vulnerabilities stemming from structural relationships between financial intermediaries (IMF 2013). For Morocco, limited fiscal and external policy buffers, high vulnerability to external shocks due to dependencies on oil imports and trade with Europe, and the expanding size and complexity of a bank-dominated financial sector underscore the importance of an effective MaPP framework.

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