Country
Morocco MAR
BAM
score date 2026-10-10 · 30d +0.8
Seven dimensions
Credibility gap82.1
IMF / national CPI · as of 2026-08-01 · coverage: silver
Behind the curve73.8
BIS policy rates + CPI · as of 2026-08-31 · coverage: silver
Communication—
Central-bank statements · as of 2026-10-10 · coverage: silver
Geopolitical48.2
GDELT · as of 2026-10-10 · coverage: silver
Growth67.9
World Bank WDI / IMF WEO · as of 2026-10-10 · coverage: silver
Liquidity57.1
IMF BOP / BIS / FRED · as of 2026-10-10 · coverage: silver
Governance43.6
World Bank WGI · as of 2026-10-10 · coverage: silver
Morocco sovereign credibility, in brief
Morocco scores 62.8 out of 100 on the composite sovereign credibility index — credibility band 50–65. That ranks it 1 of 2 in North Africa, the 100th percentile of the region. The score has fallen 0.1 points over the past seven days. CPI -0.3% vs 2.0% target (-2.3pp) — well below target | adequate credibility (63/100).
As of 2026-10-10 · scored daily from public data under methodology v8
Executive summary
written 11 Oct · score 10 OctMorocco ranks first in North Africa at 62.8, but inflation below its 2% target keeps credibility under pressure.
- Composite position: The 62.8 score is adequate and beats the regional average of 56.9.
- Credibility gap: CPI at -0.3% sits 2.3 points below target, pushing the gap score to 82.1.
- Policy stance: A 2.2% policy rate scores 73.8 on behind-the-curve risk, and no central bank statements were scored.
- Geopolitics: Pressure is moderate at 48.2, with recent headlines on a Houthi drone death, a jihadist arrest and defence procurement.
- Watch item: Track the next BAM rate decision and monthly CPI print for any move toward the 2% target.
Peer context
Rank 1/2 in North Africa · 100th percentile
Region avg 56.9 · best 62.8 · worst 50.9
Ranked either side
- Tunisia 50.9
90-day trend
External pulse
- Port trade momentum, 30d YoY
- -7.6%
- as of 2026-10-11
- Commodity terms-of-trade, 12m change
- -3.2%
- as of 2026-10-11
- Electricity demand, YoY
- +12.1%
- as of 2026-03-01
Sources: Kpler; UN Global Platform; IMF PortWatch (portwatch.imf.org) · Terms-of-trade: IMF Commodity Terms of Trade · Electricity: Ember (CC BY 4.0)
Key indicators
External & activity
| Cpi monthly index | 119.6 | 2026-08-01 | ILO CPI |
| Current account (% GDP) | -2.5% | 2025-12-31 | World Bank |
| Electricity demand (TWh) | 3.9 | 2026-03-01 | Ember |
| FDI inflows (% GDP) | 1.8% | 2025-12-31 | World Bank |
| GDP growth, annual | 4.6% | 2025-12-31 | World Bank |
| Nightlights radiance (monthly sum) | 1.2M | 2025-12-01 | World Bank / NASA Black Marble |
| Nightlights radiance, YoY | -11.3% | 2025-12-01 | derived |
| Remittances (% GDP) | 7.5% | 2025-12-31 | World Bank |
| Reserves (months of imports) | 5.9 mo | 2025-12-31 | World Bank |
| Trade openness (% GDP) | 93.1% | 2025-12-31 | World Bank |
| Unemployment rate | 9.0% | 2025-12-31 | World Bank |
| Unemployment rate (ILO) | 11.8% | 2022-12-31 | ILO |
Structure
| External debt (% GNI) | 44.7% | 2024-12-31 | World Bank |
| GDP per capita (USD) | $4,672 | 2025-12-31 | World Bank |
| Government debt (% GDP) | 51.2% | 2011-12-31 | World Bank |
| Labor force participation | 44.3% | 2022-12-31 | ILO |
| WGI: control of corruption | -0.5 | 2025-12-31 | World Bank |
| WGI: government effectiveness | 0.2 | 2025-12-31 | World Bank |
| WGI: political stability | -0.5 | 2025-12-31 | World Bank |
| WGI: regulatory quality | -0.0 | 2025-12-31 | World Bank |
| WGI: rule of law | -0.3 | 2025-12-31 | World Bank |
| WGI: voice & accountability | -0.7 | 2025-12-31 | World Bank |
Nightlights: World Bank / NASA Black Marble VIIRS (CC BY 4.0)
Follow the moves
Every figure above is recomputed daily from public data, with the source and as-of date shown for each one. The weekly briefing says which scores moved, and why.