Morocco’s central bank plans to issue two international bonds in 2019 and 2020

Morocco has planned to issue two international bonds each worth 11 billion dirhams (USD 1.1 billion) in the current year and 2020, Governor of Central Bank of Morocco, Abdellatif Jouahri said on March 19.

The bonds would help lift Morocco's foreign exchange reserves from 231 billion dirhams in 2018 to 239 billion dirhams in 2019 before falling to 236 billion dirhams in 2020, enough to cover five months of import needs, as reported by Reuters.

Also Read: Moroccan bank Banque Centrale Populaire announces net profit's rise to 3.5 pct in 2018