Morocco to issue an international bond in November, Finance minister says

Morocco is expected to issue its first international bond in four years in November, Reuters reports, quoting Finance Minister Mohamed Benchaaboun.

The international bond is worth about $1 billion, the same source added. «We want to use this tool as we waited until interest rates were low», Benchaaboun declared during a conference, held Tuesday to discuss the government’s 2020 budget plan.

A senior finance ministry official told the British press agency that Morocco will be choosing between dollars and euros for the bond. However, the Finance minister said that the bond issued will not be more than $1.5 billion.