Morocco ranks fourth in Africa's external debt

Morocco is Africa's fourth most indebted nation with $45.65 billion in external debt in 2023, according to an Afreximbank report published May 28. South Africa (13.1%), Egypt (12%), and Nigeria (8.4%) lead the ranking, with six countries accounting for half of Africa's debt. The bank warned such concentration heightens systemic risks, as shocks could disrupt trade and investor sentiment. While Morocco maintains stable debt management, it remains vulnerable to global market shifts.