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External Debt Exceeds $35.3b in Morocco

Morocco’s external debt reached MD337.84 billion (USD35.3 billion) at the end of June, registering an increase of around 3.4 percent compared to the beginning of the year.

The distribution of this debt by hard currency shows the continued dominance of the euro despite the decline in its share during the past five years for the benefit of the American dollar.

The total indebtedness in Euro reached 60.2 percent end of June, followed by the American dollar with 28.4 percent then Japanese yen with 3.6 percent.

The dollar share saw a continuous rise in the past five years, from 17.9 percent in 2014 to 28.4 percent currently. However, the euro share has been on the opposite track, dropping from 68.8 percent in 2014 to 60.2 percent today.

According to the credit parties, the share of the IMF and commercial banks reached 23.9 percent. Remarkably, it hiked by 4.82 percent compared to the beginning of the year.

The funding received by Morocco from multilateral international institutions represents the lion’s share in the external debt (49.5 percent). Debt from bilateral sources totaled 26.6 percent.

Further, Morocco’s external debt distribution based on the borrowing parties shows that the government’s treasury registered 45.8 percent of this debt at the end of June, while the public institutions reached 53.5 percent.

However the share of other parties such as municipalities and banks registered 0.7 percent of the total external debt.

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