Morocco is set to issue euro-denominated bonds on the international market for the first time since 2020, to finance economic reforms and infrastructure projects as the country prepares to co-host the 2030 FIFA World Cup.
Finance Minister Nadia Fettah Alaoui confirmed the planned issuance, marking Morocco’s first foreign bond sale since it raised $2.5 billion through dollar-denominated bonds in 2023.
This time, the government is opting for euro-denominated debt to better align with its financing needs and economic strategy.
The bond sale comes as Morocco ramps up investment in key sectors, including transport, stadium upgrades, and broader infrastructure development.
As part of its economic overhaul, the country is also introducing capital market reforms, including plans to launch a derivatives market and new financial instruments such as exchange-traded funds (ETFs) and Sharia-compliant mutual funds, the measures aimed at attracting both domestic and foreign investors, strengthening Morocco’s financial sector.
Balancing Borrowing and Financial Stability
With rising debt levels, Morocco faces the challenge of managing its borrowing carefully to maintain financial stability.
The success of the bond sale will serve as a test of investor confidence in the country’s fiscal management and economic outlook.
If well-received, it could pave the way for further capital market development and reinforce Morocco’s position as a key financial hub in North Africa.
