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Morocco will be releasing an international bond in 2024, the country's finance minister told Bloomberg.
«We are constantly monitoring international markets», Finance and Economy Minister Nadia Fettah Alaoui said on Wednesday on the sidelines of a gathering of Arab finance officials in Egypt's new administrative capital.
«We don't feel any pressure, but we are watching for the best timing for the issue», she added, without giving further details on any planned offering.
The last time Morocco borrowed internationally was in March 2023, when it issued a $2.5 billion bond by selling five-year and 10.5-year securities, the same source added.
During the same event, the minister said that Morocco's annual inflation for 2024 is expected to reach 2.2%. This is despite the government's move of cutting subsidies for cooking gas.
The move also included a direct-aid program for vulnerable households worth some $2.5 billion, broad health insurance coverage and a wage-hike agreement with trade unions.
For the record, Morocco has the highest Eurobonds outstanding in Africa.
