Marruecos fortalece su reputación en los mercados financieros internacionales

Morocco, which offers a wide range of financial products and services, recently announced that it had raised $2.5 billion from foreign investors. This injection of capital will allow it to finance long-term development projects, as well as to expand its regional presence. According to financial market specialists, this foreign investment gives Morocco a real appreciation by investors. This is due to the fact that foreign investors are willing to risk their capital to obtain equity and this will allow access to new markets. Financial market experts predict that this investment will allow for greater success in the future, improving its market position and increasing profits. 

The North African country has made its grand return to the international financial market, after coming off the grey list of the Financial Action Task Force (FATF), the Kingdom received a "certificate" of good conduct on money laundering. This enabled the Kingdom's monetary authorities to raise $2.5 billion from foreign investors on 1 March, following an international road show led by the Minister of Economy and Finance, Nadia Fettah Alaoui. This injection of foreign funds will provide a boost to the country's economic growth, while strengthening foreign investors' confidence in the Moroccan economy.

The loan was divided into two tranches according to data from the Ministry of Control. The first tranche, with a 5-year maturity, was issued with a spread of 195 basis points at a rate of 5.95%. While the second tranche, with a maturity of 10 years, was issued with a spread of 260 basis points at a rate of 6.4%. These loans were issued to finance infrastructure development in the country.

Morocco has maintained a strong economy despite the global crisis, which has generated high investor confidence. This is reflected in the order book, which exceeds USD 11 billion, demonstrating that demand is still present. This situation is due to the resilience of the national economy and its macroeconomic fundamentals.

Expert Farid Mezouar highlights Morocco's popularity among investors, as it has always honoured its commitments. He also points out that the country's budget deficit remains under control, with 4.6% of GDP projected for 2023. Finally, it stresses that the Treasury achieved a successful bond issue, offering spreads 40 bps lower than initially projected.

The Ministry of Finance stressed that borrowing in foreign currency represents an improvement in Morocco's ability to attract investors and a recognition of its financial status. This will contribute to the improvement of Morocco's credit rating and reputation, leading to increased foreign direct investment. Finally, foreign currency borrowing increases the diversification of the Kingdom's debt, allowing greater control of capital flows and improving fiscal resilience.

As a result, the Moroccan economy can withstand a financial shock, which has given it a high degree of stability. This stability is reflected in low levels of inflation, low external debt and relatively low unemployment. In addition, the government has taken a number of measures to ensure long-term growth, including investment in infrastructure, modernisation of the administration and promotion of foreign investment. This means that, despite the current uncertainty, Morocco is still an attractive destination for investors.