Morocco will issue an international bond in 2019 said governor of the Central bank Abdellatif Jouahri, adding that the country may consider the renewal of the IMF precautionary liquidity line which expires this year. Jouahri was speaking to the press at a regular press conference in which he announced that the Central bank maintains its benchmark interest rate stable at 2.25. “The International bond will be determined by the finance ministry,” which will also decide the timing, he said. The government in January decided against renewing a $3.47 billion liquidity line it had secured in 2016, saying it may seek alternative arrangements with the fund. The Central bank governor also announced that Morocco will issue 1 billion dirhams in Sukuk to boost liquidity of Islamic banks.

Source: The North Africa Journal September 27, 2018 23:48 UTC