By 2022, Morocco’s external debt stood at 423.6 billion dirhams ($41.2 bln) representing 31.8% of GDP, half of which was owed to multilateral development banks, according to finance ministry data.
The International Bank for Reconstruction and Development, an offshoot of the World Bank, holds the lion’s share in Morocco’s external debt with 93.1 billion dirhams, or 41.9% of Morocco’s overall external borrowings.
The World Bank was followed by the African Development Bank (AfDB) and the European Investment Bank with 23.5% and 15.5% of Morocco’s external debt respectively.
The Arab Fund for Economic and Social Development held 6.3%, followed by the Islamic Development Bank with 4% and the Arab Monetary Fund with 1.9%.
Bilateral donors owned 22.8% of Morocco’s external debt at 96.5 billion dirhams of debt offered mostly by EU countries at 72.3%.
France topped bilateral creditors with 37.8 billion dirhams or 39.2% of Morocco’s bilateral debt, followed by Germany with 24.5%, Japan with 12.9% and Saudi Arabia with 6.2%.
Source: North Africa Post
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