The Directorate of Financial Studies and Forecasts of the Moroccan Ministry of Economy, Finance and Administration Reform revealed the increase of banks' needs for liquidity during the month of July, reaching an average of 102.7 billion dirhams ($10.2 billion), compared to 100.4 billion dirhams (10 billion dollars) in June, and 96.5 billion dirhams (9.6 billion dollars) in May.
The directorate indicated that the Central Bank of Morocco has resorted to increasing the volume of its operations to pump liquidity, which averaged about 111.8 billion dirhams (11.1 billion dollars), compared to 105.4 billion dirhams (10.5 billion dollars) during the previous month.
According to the directorate, the Central Bank intervened through secured loan operations for a year in order to support the financing of very small, small and medium enterprises, the average amount of which increased to 30.1 billion dirhams (3.01 billion dollars).
Regarding the development of loan rates, the average general rate continued to decline during the second quarter of 2020, recording a decline on a quarterly basis by 29 basis points to reach 4.58 percent. This development included equipment loan rates (minus31 basis points to 4.21 percent) and treasury facilities (minus 23 basis points to 4.41 percent). On the other hand, consumer and real estate loan rates increased by 34 and 6 basis points to 7.09 and 5.22 percent, respectively.
Source (Al-Sharq Al-Awsat Newspaper, Edited)
