Morocco may tap the international debt market around the time a previous $1.5 billion bond matures in December, according to a person familiar with the plans, in what would be the kingdom’s first issuance abroad since 2020.
The government isn’t rushing the issue because higher remittances and earnings from phosphates are easing the impact of pricier food and energy imports on the North African nation’s finances in the short term, the person said, asking not to be identified as the plans aren’t public.
Authorities have yet to decide on the size, denomination or maturity of the issuance, though they may raise as much as 25 billion dirhams ($2.5 billion) from bilateral creditors and international development institutions by year-end, the person said.
The Finance Ministry didn’t immediately respond to a request for comment on Tuesday.
Morocco can afford to do without an offering if markets continue to demand high returns, according to the person.