Morocco’s Internal Debt Reaches $59.3 Bn
Morocco's internal debt stood at $59.3 billion at the end of July, up 2.7 percent from the beginning of the year, reaching 49.5 percent of the country's gross domestic product (GDP).
The government resorted to borrowing $7.2 billion in the tender market of treasury bonds during the first seven months of this year instead of $6.81 billion during the same period last year, according to a bulletin issued by the General Treasury of the Kingdom.
The General Treasury said that the debt of the Moroccan government has become 61.63 percent of bonds over ten years, compared to 58 percent at the end of July last year.
The bulletin associated this development to the continued Treasury’s dynamic management of indebtedness by replacing short-term loans with long-term ones.
During the first seven months of this year, these operations included loans worth nearly $3.2 billion, which were almost entirely converted from loans with a maturity of less than 10 years to loans over 10 years.
In this context, the value of the amounts paid by the government for the internal debt increased 13.2 percent to reach $1.89 billion at the end of July, compared to $1.67 billion during the same period last year.