Morocco Plans Eurobond Sale to Fund Reforms, World Cup Projects
TLDR
- Morocco is preparing to issue euro-denominated bonds on the international market for the first time since 2020
- This comes as it seeks to finance economic reforms and infrastructure investments ahead of the 2030 FIFA World Cup
- It also marks the country’s first foreign bond sale since a $2.5 billion dollar-bond issuance in 2023
Morocco is preparing to issue euro-denominated bonds on the international market for the first time since 2020 as it seeks to finance economic reforms and infrastructure investments ahead of the 2030 FIFA World Cup.
Finance Minister Nadia Fettah Alaoui confirmed the plan, marking the country’s first foreign bond sale since a $2.5 billion dollar-bond issuance in 2023. The government aims to raise funds in euros rather than dollars to align with its financing needs.
The move comes as Morocco ramps up spending on major projects, including transport and stadium upgrades, while also working on capital market reforms.
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Key Takeaways
Morocco’s bond issuance signals its strategy to diversify funding sources and strengthen capital markets. A planned derivatives market and new financial instruments, including ETFs and Sharia-compliant mutual funds, also aim to attract domestic and foreign investors. The country’s growing infrastructure needs, driven by World Cup preparations and broader economic reforms, fuel demand for external financing. With rising debt levels, Morocco must manage borrowing carefully while ensuring that investments generate long-term economic benefits. The bond sale will test investor confidence in Morocco’s fiscal management as it seeks to balance ambitious spending with financial stability. If successful, it could set the stage for further capital market development and reinforce Morocco’s position as a key financial hub in North Africa.
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