Thanks to its sound economic and financial fundamentals, Morocco has fostered its attractiveness to foreign investors, while receiving preferential terms from international financial organizations. Within a month, Morocco’s reforms earned it an exit from the grey list of the Global financial crime watchdog, the Financial Action Task Force. Few days later, Morocco scored another financial success with the issue of a $2.5 bln dual-tranch bond with preferential term. “Demand for the bond was $11 billion, a fact underscoring the trust of foreign investors in Morocco’s finances, despite the difficult international context and high uncertainties,” said minister in charge of the budget Faouzi Lekjaa. Leaving the grey list, the successful bond and the IMF credit line are key to safeguarding Morocco’s financial stability and avoid scenarios faced by other north African neighbors, he said.

Source: The North Africa Journal March 09, 2023 01:58 UTC