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Morocco internal debt exceeds $60 Billion

Morocco’s government internal debt reached MAD 571.1 billion (USD 60.1 billion) at the end of November, witnessing an increase by 4.1 percent since the beginning of the year.

The internal debt now makes up 50.1 percent of the GDP.

According to the Public Treasury’s report, this hike resulted from the government’s obtaining of new loans worth MAD 107 billion (USD 11.3 billion) and paying debts of MAD 84.5 billion (USD 8.4 billion) during this period.

This resulted in a balance of MAD 22.5 billion (USD 2.4 billion).

Based on the due date, Morocco’s internal debt represents 88.4 percent of debts payable in more than five years compared to 85 percent of debts that fall under the same category, last year.

Further, debts payable in 15 years rose to around 40 percent by the end of November compared to 35.9 percent in the beginning of the year.

During this period, the government proceeded with managing the internal debt through replacing short- and medium-term loans with medium- and long-term ones.

In this context, the government withdrew loans worth MAD 34 billion (USD 6.53 billion) through issuing bonds of terms ranging between 5-30 years to pay their equivalent of loans payable in less than five years.

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