FINANCIAL MARKET HEADLINES
| MOROCCO | ATTIJARIWAFA BANK | Securitization of MAD 1 Bn of mortgage loans
The AMMC approved, on May 31st 2021, the information prospectus relating to the "MIFTAH Fonctionnaires III" sub-fund of "FT MIFTAH" Securitized Investment Fund. The operation involves the securitization of mortgages held by Attijariwafa bank. The ceil-ing of the issue is set at MAD 1,000,000,000. The subscription period will be spread over 3 days (from June 7th 2021 to June 9th 2021 included).
ECONOMIC HEADLINES
| MOROCCO | FOREIGN TRADE | Workers’ remittances up 45% at the end of April 2021
At the end of April 2021, exports of goods and services amounted to MAD 128.0 Bn, up 4.8%. Likewise, imports increased by 8.2% to MAD 169.8 Bn. To this end, the global trade deficit stands at MAD -41.8 Bn against MAD -34.7 Bn a year earlier. The overall coverage rate fell by 2.5 points to 75.4%.
Travel receipts dropped by 65.7% to MAD 6.4 Bn while workers’ remittances jumped by 45.3% to MAD 28.8 Bn. Finally, receipts from FDI show an increase of 23.7% to MAD 10.6 Bn.
| MOROCCO | INDUSTRY | An increase of 0.6% in the price index of manufacturing industries in April 2021
In April 2021, the price index of the "Manufacturing industries excluding oil refining" rose by 0.6% from the previous month. Meanwhile, the production price indices for the "Mining industries", "Production and distribution of water and electricity" re-mained stable over the same period.
| TUNISIA | FOREIGN TRADE | Imports volumes down 3% in April 2021
After strong increases in March, exports and imports volumes fell by 4.2% and 2.5% respectively in April 2021. As a result, the coverage rate decreased by 1.5 pts to 80.9% during the same period. Meanwhile, prices show an increase of +2.9% for imports against +2.5% for exports.
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