Friday 24 January 2025 – 17:51
Morocco’s banking liquidity deficit has decreased by 8.26%, dropping to 136.8 billion dirhams between January 16 and 22, 2025. This positive trend continues to benefit from the ongoing effects of the country’s tax amnesty program, according to the latest report from BMC Capital Global Research,
In a memo, the group highlighted that this decline coincided with a 2.32 billion dirham drop in Bank of Morocco’s 7-day advances, which now stand at 57.4 billion dirhams. Meanwhile, the Treasury’s placements also decreased, with a daily maximum of 12.3 billion dirhams compared to 29.4 billion dirhams in the previous period.
The weighted average interest rate remained stable at 2.5%, while the MONIA index, Morocco’s benchmark interbank rate based on repurchase transactions with treasury bonds as collateral, fell slightly to 2.464%.
Looking ahead, the group anticipates a slowdown in Bank of Morocco’s market interventions, predicting 7-day advances will total 55.1 billion dirhams in the near future.
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