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Morocco: Foreign Debt Reaches $35B

Morocco: Foreign Debt Reaches $35B

Thursday, 2 January, 2020 - 13:00
Rooftops of Rabat's Medina are seen from the top of a tall building on September 25, 2014. REUTERS/Damir Sagolj. Reuters/Damir Sagolj

The Department of Treasury and External Finance at the Ministry of Economy, Finance and Administration Reform in Morocco reported that the public foreign debt reached MAD334,96 billion (USD35 billion) by the end of September 2019.

The department added that the loans granted to the treasury and the contracting reached during the first nine months of 2019 a total of MAD151,4 billion and MAD183,5 billion consecutively.

Regarding the public debt structure, the multi-parties lenders form the first group by which Morocco borrowed 49,5 percent of the public foreign debt followed by bilateral lenders by 26,2 percent then the IMF and commercial banks by 24,3 percent.

The department continued that public institutions and contracting represent 53,9 percent of the total debt followed by the treasury by 45,2 percent.

During this period, a total of MAD22 billion (USD2.3 billion) was mobilized from the public sector – a total of MAD10,5 billion (USD1.1 billion) was allocated to the treasury and MAD11,5 billion (USD1.2 billion) to public firms' projects.

As for the public foreign debt service, it reached MAD19,5 billion (USD2 billion) end of Sep. including MAD8,5 billion (USD8,894 million) for the treasury personal accounts and MAD11 billion (USD1.1 billion) for public institutions and contracting.

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