Morocco raises 1bn euro bond on international market

Morocco has raised one billion euros ($0.7 billion) on the international market in a 10-year bond at 3.5 percent, AFP reports citing Finance Minister Mohamed Boussaid.

The bond marks the kingdom's "return" to the Euro market and involves British, French, German, Gulf Arab and other investors, Boussaid told AFP.

The 3.5 percent loan rate is less than that obtained on the dollar market in 2012-2013, showing the "confidence in Morocco's economic and political stability," he said.

Boussaid said Rabat had taken out the bond because "market conditions allow it to consider this venture with much confidence".

The kingdom showed during the global financial crisis that it had a "resilient economy" and had begun reforming and consolidating its public finances, Boussaid said.