Morocco will remain one of the main issuers of sovereign debt in Africa by 2026, according to S&P Global Ratings. With a developed financial system, the kingdom maintains an active presence in the markets despite an uncertain geopolitical context.
Morocco is preparing for a major energy shock. Bank Al-Maghrib could activate an IMF credit line if the barrel reaches $120, while the State is relaunching aid to carriers in the face of rising fuel prices.
The Moroccan dirham depreciated by 0.5% against the euro and 0.8% against the US dollar during the period from March 5 to 11, according to Bank Al-Maghrib (BAM).
The Moroccan real estate market is showing a clear restart at the end of 2025. While the price index is stagnant with a 0.2% increase, the volume of transactions is soaring by 18.4%, driven by strong demand for land and offices.
The Moroccan dirham remained almost stable against the euro and depreciated by 1% against the US dollar during the week of February 26 to March 04, according to Bank Al-Maghrib (BAM).
Morocco has officially brought into force the law amending the Commercial Code. This major reform of bounced checks reduces prison sentences, decriminalizes family disputes and prioritizes repayment to ease the burden on the courts.
The annual growth rate of bank loans to the non-financial sector stood at 8% in December 2025, driven by a strong momentum in public financing. According to Bank Al-Maghrib, this growth is mainly fueled by strategic infrastructure projects, particularly in desalination and high-speed rail (TGV).
The Moroccan dirham depreciated by 0.7% against the euro and appreciated by 1.5% against the US dollar during the week of January 22 to 28, 2026, according to Bank Al-Maghrib (BAM).
The Moroccan dirham appreciated by 0.5% against the US dollar and depreciated by 0.2% against the euro during the period from January 15 to 21, 2026, according to Bank Al-Maghrib (BAM).
The use of cash in Morocco continues to grow , reaching 30% of Gross Domestic Product (GDP), a trend that is the opposite of the global trend of payment digitalization. According to statistics from Bank Al-Maghrib (BAM), the volume of currency in circulation stood at 475 billion dirhams at the end of October 2025. This predominance of cash concerns 77% of all domestic transactions, a phenomenon rooted in socio-cultural factors and the weight of the informal sector.
Bank Al-Maghrib has announced the official withdrawal of several series of banknotes as of January 1, 2026. This decision is part of Decree No. 2.25.966 dated December 23, 2025.
The year 2025 ends with a monetary status quo. Gathered for its last quarterly session, the Bank Al-Maghrib (BAM) Council decided to keep the key rate unchanged at 2.25%, considering this level appropriate given a controlled inflation rate of 0.8%. But beyond the figures, it is the announcement of a pilot phase in 2026 for inflation targeting, a prelude to a more extensive flexibility of the dirham , that is drawing attention.