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The active management of the public debt is an «important element» that can be used to reduce and partly relieve the related interest expenses, said on Tuesday the governor of Bank Al-Maghrib (central bank) Abdellatif Jouahri.
The establishment of an active management plan for the public treasury can allow the State to reduce the interest burden on the debt, by replacing one debt with another, explained Jouahri during a press briefing held in videoconference mode at the end of the last quarterly meeting of the BAM board for the year 2020.
However, he noted that public debt must remain within certain limits, particularly in view of the country's repayment capacities and to avoid penalizing future generations.
«If we devote more of the debt contracted to the benefit of investment, this will correspond to its main objective, namely the creation of wealth, which would eventually make it possible to have the necessary income to be able to repay it without difficulty», he said.
On Morocco's latest move on the international financial market, he said the market responded «very positively» to the $ 3 billion bond loan, in a context of confidence and excess liquidity that encouraged international investors to subscribe to maturities covering 30 years and 50 years, or even well beyond.
Conditions on the international market have improved with the announcement of anti-covid-19 vaccines, he noted, stressing that Morocco has played well by using this market in circumstances allowing it to benefit from very favourable conditions.
