The financial rating agency has renewed Morocco’s Ba1 rating with a stable outlook. “This rating reflects its demonstrated resilience to internal and external shocks, its access to relatively deep domestic financial markets and an economic transition to higher value-added export sectors,” said Moody’s.
Like other countries, the Moroccan economy will be impacted by the coronavirus. The negative effects on tourism and exports to Europe will be partially offset by lower prices for energy imports, analysts said. In addition, “the government has access to relatively deep domestic financial markets, which protects it from the volatility of international financial markets,” said Elisa Parisi-Capone, vice president – senior analyst at Moody’s.