Morocco’s Debt Market Analysis: Dominance of Treasury Bills and Negotiable Debt Securities

2023-12-31 16:24:33
By The Economist | 12/31/2023 – 5:24 p.m. | Share

The share of Treasury bills (BdT) in the debt market in Morocco remains dominant, representing 73% of the overall outstanding amount at the end of October 2023.

Treasury raisings reach MAD 235 billion, with 35% of issues on short maturities, 34% on medium maturities, and 31% on long maturities. Rates vary between 2.9% and 5.5%. On the bond market, issues amounted to MAD 6.3 billion, with an outstanding amount of nearly MAD 169 billion at the end of October, down 1.1% over one year.

Issuance on the market for negotiable debt securities reached MAD 62.8 billion during the first ten months of 2023, 70% dominated by bank raisings.

M.Ba

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