chaos in Libya

State fund CDG estimates coronavirus toll on economy at $5.4 bln

State fund CDG said that the losses due to coronavirus could amount to $5.4 billion (54 billion dirhams) with Morocco expecting a recession in 2020. The study was based on the hypothesis of a four-month-long crisis and a gradual resumption of activity by July 2020. It expects agricultural production to contract by 6% with only […]

Mohamed Benchaaboun Appointed Minister of Economy & Finance

King Mohammed VI has appointed Mohamed Benchaaboun as Minister of Economy and Finance in replacement of Mohamed Boussaid who had been sacked on August 1. The royal office announced in a statement that the King received Benchaaboun on Monday at the Royal Palace in Rabat and appointed him Minister of Economy and Finance. The King […]

Morocco successfully sells 1 billion euro in dual-tranche bond

Morocco has completed a successful sale of a 1 billion euro two tranche bond with 5.5 year and 10 year maturity at a rate of 1.375% and 2% respectively, in a deal that reflects the trust enjoyed by the country among international financial institutions despite the difficult context of the pandemic. Demand on the bond […]