VOL. XLIII

No. 09

28-February-2000

MOROCCO

Sizeable Foreign Currency Reserves Improve Climate For Bond Issues In Morocco

Although stocks listed on the Casablanca Stock Exchange posted a less than inspirational performance in 1999, except for blue-chips like ONA, which marginally outperformed the rest of the market, the Moroccan bond market experienced exceptional performance over 1998. This year, yields on bonds of all tenures are expected to continue to fall, but much will depend on the progress...