A study conducted by Euler Hermes suggests that Morocco is the only country in North Africa and the Middle East that is ranked as low-risk due to several strong indicators. The report shows that the Kingdom is witnessing «steady growth despite primary sector high volatility».
Moroccan banks may face trouble with potential external shocks due to their weak asset quality and high risk appetite, according to Fitch Ratings. The credit rating agency, through a report issued on the 19th of July, suggests to reevaluate the strength of the Kingdom’s financial institutions. Details.
The process of floating the national currency has not been finalized yet. The central bank is still obligated to set a fluctuation band that would tie the value of the dirham through a managed float highly suggested by the International Monetary Fund. Announced as a potential 5% fluctuation band by the Head of the government, the CGEM alongside the GPBM both deem it higher than they had expected.
Morocco has been ranked 5th among the most attractive Arab countries for foreign direct investment. The Annual report issued by the Arab Investment and Export Credit Guarantee Corporation considers Morocco as an appealing destination for foreign investors in the Maghreb region.
Morocco’s government adopted on Thursday a bill regarding amendments to the status of Bank Al-Maghrib (BAM), which will grant it more autonomy. The new project comes hand in hand with the new exchange rate flexibility measure and is a step towards central bank independence (IBC) recommended by the International Monetary Fund.