New Treasury Bond announced in Morocco
The Moroccan Treasury has announced that a bond issue by auction took place on February 19th.The Moroccan Treasury has announced that a bond issue by auction took place on February 19th.
The bonds have a maturity comprised between 13 weeks and 2 years - with a rate of 3.85% and a coupon of 295.34 on bonds with a maturity of 52 weeks - and a rate of 4.20 percent (coupon of 402.70) for those with a maturity of two years.
The Moroccan government is increasingly resorting to the sale of bonds to finance its activities, due to the growing success of these operations on the continent.
Treasury bonds auctions totalled 18.2 billion dirham (€1.6 billion) in January, which represents an increase of 8.4 billion over the previous month and of 62 percent compared to January 2012, according to the Central Bank of Morocco (Bank Al-Maghrib) in its latest monthly review of economic, monetary and financial trends.
Nizar Baraka, Minister of Economy and Finance, told the newspaper Aujourd'hui Maroc that successful bonds "show that international markets have a real long-term confidence in our economy, the stability of our country and our ability to cope with both regional and economical challenges."
These operations allow the government to raise funds to pursue its ongoing projects, including the financing of SMEs and infrastructure.