17 Hrs
Source:
AL24 News
Morocco's deficit fuels debt sale
The text discusses the Moroccan regime's procedures for addressing the problematic non-performing loans in the banking sector. It mentions that the International Finance Corporation is preparing to invest in Morocco through a joint venture with the German EOS Holding Group, aiming to establish a secondary market for selling non-performing debts. The article highlights that this process does not genuinely resolve the debt crisis; rather, it transforms the crisis into an opportunity for foreign investment, where the debt holder changes while the citizen remains burdened by their debts, with the risk of losing their assets if strict collection measures are applied. Additionally, the article documents that more than $11 billion in delinquent loans reflect the depth of the financial and social crisis facing Moroccans, which worsens with rising living costs and declining repayment ability, leaving citizens vulnerable before foreign investment institutions that buy and manage their debts, without providing true protections for the debtors.
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