Morocco’s Public External Debt Surges to 29.7% of GDP, Exceeds 339 Billion Dirhams

According to the quarterly bulletin on public external debt, the outstanding external debt of the Treasury stood at 161.5 MMDH, while that of external debt excluding the Treasury amounted to 178.3 MMDH.

Regarding the structure of creditors, it is dominated by multilaterals (49.4%), followed by bilaterals (25.6%) and the International Monetary Fund and commercial banks (25%). As for that of borrowers, it is dominated by public institutions and enterprises and the Treasury, with respective shares of 51.5% and 47.5%.

Furthermore, public external debt, by currency, was dominated by the euro (61.8%), while the US dollar accounted for 27.1% and the Japanese yen for 3.5%, the DTFE said. It also specifies that the share of debt at fixed interest rates stood at 74.9% against 25.1% at variable rates.

As for the resources from external borrowing by the public sector during the year 2019, they amounted to a total volume of 39.4 MMDH, of which 25.5 MMDH were mobilized by the Treasury and 13.9 MMDH by other public borrowers.

During the same year, the service of public external debt stood at 29.2 MMDH, of which 12.1 MMDH were paid by the Treasury and 17.1 MMDH by other public borrowers.