Moroccan minister denies additional $1bn loan reports

Moroccan Minister of Economy and Finance Nizar Baraka Rabat – Redouane Mabchour Moroccan Minister of Economy and Finance Nizar Baraka has denied reports that he is in talks with international banks to secure a $1 billion loan. Last week, several Moroccan media outlets reported that Baraka was looking to ease the financial burden on Morocco\'s treasury by borrowing additional funds.
However, the minister said that the story, which detailed that the state would issue bonds in the international market was wide of the mark, adding it was a case of the media reporting false news.
Speaking at the African Development Bank\'s recent gathering in Marrakech, Baraka said that on his last trip to London, he didn\'t discuss the possibility of borrowing more, but instead sought to extend the period of time Morocco could borrow the current $1.5 billion loan.