Bernama
Morocco’s Foreign Debt Falls 7.0 Per Cent To 128.8 Billion Dirhams
RABAT, July 2 (BERNAMA-NNN-MAP) — Morocco’s foreign debt fell by seven per cent to 128.8 billion dirhams (about US$15.696 billion) in the first quarter of this year from 129.8 billion dirhams in the first quarter of 2013, according to the Economy and Finance Ministry.
The Ministry reported here Tuesday that international lending institutions were Morocco’s largest creditors, holding 49.9 per cent of the debt in the first quarter of 2014, followed by the international financial markets with 26.9 per cent.
In the same period, debt servicing amounted to 3.47 billion dirhams, including 662 million dirhams in interest charges, compared with 3.88 billion dirhams at the end of 2013.
The Euro holds the lion’s share of the debt structure at 77.5 percent of the Treasury’s external debt, while US dollar borrowing accounted for 13.5 per cent of the debt.
