HomeEconomySlight widening of the deficit by 1.2%

Slight widening of the deficit by 1.2%

The bank liquidity deficit widened slightly by 1.2% during the period from January 27 to February 2, 2022, to stand at -71.3 billion dirhams (MMDH) on a weekly average, according to BMCE Capital Global Research (BKGR).

This development comes at a time when Bank Al-Maghrib (BAM) increased its 7-day advances from 34.1 billion dirhams to 35.8 billion dirhams, BKGR specifies in its recent “Fixed income weekly” note.

At the same time, Treasury investments appreciated, going from 13.1 billion dirhams to 15.4 billion dirhams, while the TMP continues to be stable at 1.50%, and the MONIA (Editor’s note, Moroccan Overnight Index Average: index overnight benchmark, calculated on the basis of repurchase transactions with Treasury bills as collateral) fell to 1.42%.

Over the next period, BAM should reduce its monetary system with the issuance of 34 billion dirhams in the form of 7-day advances, down 1.8 billion dirhams compared to the previous week, estimates BKGR.




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