Morocco Says EU1 Billion Bond Sale Aims to Diversify Borrowing
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Morocco will sell 1 billion euros ($1.3 billion) of 10-year bonds in its first sovereign debt offer since 2007 to reduce its reliance on local borrowing and may tap international markets again next year, a government minister said.
Domestic borrowing makes up 77 percent of Morocco’s total debt, a rate the government plans to reduce by two percentage points, Economy and Finance Minister Salaheddine Mezouar said in a telephone interview from London yesterday.