Morocco pledged to soon repay part of a $3 billion International Monetary Fund credit facility, suggesting the kingdom’s economy may have seen off the worst effects of the pandemic and an acute drought. Bloomberg quotes the IMF as saying a steady flow of remittances sent by Moroccan expatriates and lower imports helped maintain official reserves at “an adequate level”, while an analyst explained that the country may see its recovery initially driven by vehicle-manufacturing, phosphates, and the financial industry before more labor-intensive industries like tourism and agriculture pick up once again.