Morocco: $4 billion, total capital flight abroad

This is what has just been revealed by the director of the office of exchange Jaouad Hamri, in a recent announcement.

$ 4 billion in foreign currencies in cash from crediting bank accounts were transferred from Morocco to abroad.

The figure is staggering in a country where the financial authorities had to make the rounds of the international financial markets to borrow $ 1.5 billion.

According to the daily business newspaper, the Economist, Hamri indicated that this amount worth in DH 34 billion, corresponds to nearly 4% of national GDP, it deals exclusively with bank accounts and does not include real estate and securities.

The exchange office based its report on data from the Bank for International Settlements.