The Moroccan Treasury raised over $700 million in its first bond auction of 2025, achieving its largest issuance since February 2024. The operation attracted robust investor interest, with demand exceeding $1.2 billion, marking a five-month high.
Market optimism amid global challenges © Mena Today
The Moroccan Treasury raised over $700 million in its first bond auction of 2025, achieving its largest issuance since February 2024. The operation attracted robust investor interest, with demand exceeding $1.2 billion, marking a five-month high.
Investor confidence was reflected in a decline in yields across 10, 20, and 30-year maturities, with respective drops of 5, 4, and 22 basis points.
Despite this, the secondary market curve exhibited an upward shift across all maturities, indicating evolving demand for long-term debt and highlighting active market dynamics.
The success of the auction comes as Morocco’s fiscal management remains strong, with a budget deficit estimated at around 4% of GDP in 2024. This solid fiscal position has reinforced the Treasury’s credibility, enabling it to attract investors even in the absence of an official financing requirement for January.
The Treasury’s ability to secure significant funding amid global economic uncertainty underscores growing market confidence in Morocco’s public finances.
The auction’s record-breaking demand and competitive pricing position Morocco as a reliable issuer, further bolstering its standing in the international bond market.
As 16-year-old Moroccan Ayoub El Abyad scrolled through Instagram videos showing migrants crossing into the Spanish enclave of Ceuta, he and his cousin, then still a 12-hour drive from the border, decided to try their luck.
Spain said on Friday that it had reversed a huge rush of migrants into a Spanish enclave in North Africa, with thousands of people who had crossed the border by land and sea already heading back voluntarily.
Migrants broke through the fences into Spain's North African enclave of Ceuta from Morocco on Thursday after overwhelming police at the city's breakwater, Spain's Guardia Civil police said.
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