Morning Brief - march 24th, 2021

FINANCIAL MARKET HEADLINES
| MOROCCO | MARSA MAROC | Recurring NIGS down 26% in 2020, DPS set at MAD 8

| MOROCCO | JET CONTRACTORS | EBITDA down 65% in 2020

| MOROCCO | TIMAR | A loss of MAD -1.7 Mn in 2020

ECONOMIC HEADLINES
| MOROCCO | KEY RATE | BAM maintains the key rate unchanged at 1.5%
Bank Al-Maghrib’s Board held its first quarterly meeting of 2021 on Tuesday, March 23rd. The latter decided to keep the key rate unchanged at 1.5%. Note that Bank Al-Maghrib forecasts a GDP growth of 5.3% in 2021 against 4.7% previously and 3.2% in 2022.

| CÔTE D’IVOIRE | INFLATION | Prices up 3.2% y-o-y in February 2021
According to the National Institute of Statistics, the Harmonized Consumer Prices Index of Côte d’Ivoire increased by 1.3% in February 2021, compared to the previous month. Year-on-year, the inflation rate stands at +3.2% above the community convergence threshold set at 3.0% by WAEMU.

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