The latest IMF Article IV for Egypt released this week noted the country’s reform progress, but also highlighted key areas that require more work, including strengthening central bank independence and a fiscal anchor. But just as important will be keeping the current economic team on board, who are building credibility with markets. Elsewhere, the boom in Morocco’s tourism and auto sectors will lift GDP growth this year, and the boost to the current account position may give the central bank more confidence that it can proceed with liberalising the exchange rate.
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