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Moroccan debts to Spain will be used as investments
Morocco, Economics, 12/26/1997
Spain agreed to convert Moroccan debts worth $40 million into local investments. Spain had also converted Moroccan debts worth $50 million into investments in Morocco's northern region. The total Moroccan debts to Spain are $2.5 billion, $90 million of which were converted into investments.
Spain had offered financial guarantees worth $60 million to Moroccan and Spanish companies working in Morocco. Spain is the second biggest customer for Moroccan products after France and the third largest foreign investor in Morocco.
Previous Stories:
Moroccan-French cooperation in the electricity field
(12/24/1997)
Moroccan - French committee resumes meetings
(12/19/1997)
Spain and Morocco agree to protect direct investments, new loans
(12/16/1997)
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