Morocco’s Finance Minister Downplays Impact of Fitch Rating Cut

During the plenary session on the draft finance law (PLF) for the 2021 fiscal year at the House of Representatives, Minister Benchaâboun explained that this rating "remains limited" to the risk premiums of the Kingdom’s bonds on the international financial market. According to the National Treasurer, these premiums have seen an increase of 15 basis points (bps) for the first tranche with a maturity of 5 and a half years and 20 bps for the second tranche with a maturity of 10 years, which corresponds respectively to 0.15% and 0.20%.

Continuing his explanations, the Minister of Finance assured that investors, who were once interested in this rating, now take into account other criteria, including the pace of structural reforms to improve the country’s economic situation and strengthen its political stability.