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Walaw

Economy

Morocco's Treasury Fuels Optimism with Strategic Investments

Wednesday 10 January 2024 - 10:45

Morocco's Treasury is confidently steering the nation towards sustained financial prosperity. In a strategic move this week, the Treasury and External Finance Department (TEFD) allocated an impressive 2.32 billion Moroccan dirhams ($239 million) from cash surpluses to short-term operations.

This substantial investment unfolded in two key components: a 1.5 billion dirham ($155 million) repo at 2.69% over three days and another repo at 2.5% for 820 million dirhams ($84 million) over one day. With Morocco's economy robustly rebounding from the pandemic's aftermath, the Treasury is swift in deploying additional capital to capitalize on emerging opportunities.

Economy Minister Nadia Fattah characterized these investments as a "demonstration of confidence in Morocco's robust economic and financial foundation." In a nation committed to expanding industries and curbing unemployment, a well-endowed Treasury signifies promising prospects on multiple fronts.

Nadia Fattah emphasized, "We will persist in actively seeking prudent investments of public funds to foster sustainable and impactful growth." Amidst the global market uncertainties of 2023, Morocco appears poised to weather any turbulence and potentially emerge even stronger. The recent Treasury operations represent just one facet of this comprehensive strategy.

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