Morocco’s Public External Debt Rises to 337.8 Billion Dirhams, Euro Dominates Currency Mix

For this year, there is a predominance of multilaterals in the creditor structure with a share of 49.5%. They are followed by bilaterals (26.6%), international financial markets and commercial banks (23.9%), notes the DTFE to the MAP in its Statistical Bulletin of Public External Debt as of June.

According to the same source, Public Establishments and Enterprises (EEP) as well as the Treasury were the main borrowers as of June 2019, with respective shares of 53.5% and 45.8%.

The same statement reports that during the first six months of the year, a total volume of 18.8 billion dirhams was mobilized by the public sector, of which 9.8 billion dirhams for the Treasury and 9 billion dirhams for the financing of projects of EEPs and local authorities.

In terms of currencies, the public external debt was dominated by the euro (60.2%), while the US dollar accounted for 28.4% and the Japanese yen 3.6%, the DTFE notes, adding that the share of fixed-rate debt stood at 75.5%, compared to 24.5% at variable rate.