Morocco’s dirham regime, tourism, manufacturing, and capital markets.
Morocco
MOSENEW:IND grinds higher as 10-year yields sit near 2.9% and BAM holds 2.25%; EGX30:IND remains the regional re-rating barometer while Casablanca’s listed profits target MAD 41.2 billion for 2025.
Morocco
Coface maintains Morocco’s “B” risk grade as Eurobond spreads versus ^TNX and EMB remain tight; USDMAD=X stable and CL=F volatility contained; GDP growth near 4.5%, inflation below 1%, and reserves above USD 40 billion sustain investor confidence.
Morocco
Safran (EPA:SAF) complex anchors Morocco’s aerospace upgrade; spillovers to Airbus (EPA:AIR) and Boeing (NYSE:BA) deepen exports, while FDI above 3% of GDP and low CPI sustain eurobond spread compression through 2028.
Morocco
Morocco’s China pivot targets a 20% manufacturing share by 2027, stable reserves above five months, and orderly MAD=X as CNY=X settlements grow; frontier risk premia ease if FM and AFK sustain inflows and local 10-year yields hold in the mid-4% range.
Morocco
Morocco’s nine-month deficit nears $5.4bn as Brent (BZ=F) holds high-$80s; steady dirham (MAD=X), 2.25% policy rate, and 2.9% 10-year yields cushion funding, but debt near 70% of GDP keeps term premia sensitive to execution risk.
Morocco
The Casablanca Stock Exchange cooled modestly as the MASI slipped 1.44% to 18,549. Large-caps like VICENNE (11.9% of turnover) and Attijariwafa Bank (MAD 157 billion cap) dominated a MAD 1.85 billion trade week—signaling rotation not retreat amid a 25.56% YTD gain.
Exchanges & Indices
Casablanca Stock Exchange’s new industrial issuer program could redefine Africa’s capital markets. With MASI20.F futures live and market cap above MAD 1 trillion, Morocco is turning industrial policy into investable equity — building issuers before investors arrive.
Morocco
Morocco’s FEC is evolving from lender to development platform, managing MAD 35 bn (≈ USD 3.4 bn) in municipal loans while preparing to structure local ESG projects and bond markets. If executed well, it could redefine Africa’s sub-sovereign finance model.
Markets
Treat Morocco’s new EV headline as an ecosystem signal, not a backlog. Only 500 EUVs are firm; the 20,000-unit plan needs buyer, site and timeline. Near-term winners are scale and battery names—STLA and 002074—while rules-of-origin and IRA limits temper any quick EU export or U.S. subsidy upside now