The International Bank for Reconstruction and Development (IBRD), a subsidiary of the World Bank Group, ranked first among Morocco’s borrowers with a total value of MAD 77.6 billion.
The African Development Bank comes in second place with more than MAD 44 billion, according to official data from the Ministry of Economy and Finance.
Overall, Morocco’s public external debt amounted to MAD 379 billion at the end of 2021, an increase of MAD 2.5 billion compared to 2020, said the same source.
“The public external debt includes both the treasury’s external debt and the secured and unsecured external debt of public institutions and enterprises, territorial collectivities, and public financial institutions, as well as state-guaranteed external debt for institutions of public interest,” explained the same source.
The public external debt index related to the gross domestic product reached 29.5%, declining by about 3.2% points at end of 2021, compared to 2020.
The Ministry of Economy stated that “this change occurred in the context of the activity sector’s recovery for 2021, following the negative effects of the pandemic.”
The volume of debt owed to multilateral lenders amounted to MAD 187.1 billion at the end of last year, equivalent to 49.3% of the volume of public external debt, an increase of MAD 2.1 billion compared to the end of 2020.
The International Bank for Reconstruction and Development remains the largest borrower in the category of multilateral lenders with MAD 77.6 billion, then the African Development Bank with MAD 44.8 billion, and the European Investment Bank with MAD 30.9 billion.
The debts owed to Islamic and Arab funds totaled about MAD 25 billion, added the same source.
The Arab Fund for Economic and Social Development ranks first with a debt of MAD 12.7 billion, followed by the Islamic Development Bank with MAD 8.7 billion, and then the Arab Monetary Fund with MAD 3.6 billion.
Globally, France remains the first country to borrow the country with a total of MAD 32.9 billion, then Germany with a total debt of MAD 19 billion, Japan with MAD 11.8 billion, and then Saudi Arabia with MAD 6 billion, according to the same source.
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