Morocco's money supply up 8.4 per cent last year

Morocco's money supply (fiduciary, bank deposits) rose 8.4 per cent at the end of December 2000, compared to 10.2 per cent in 1999, Morocco's Central Bank "Banl Al-Maghrib" said in its latest bulletin.

In the same period, aggregate money supply stood at 18.13 billion dollars, up 8.2 per cent as against 11.5 per cent the previous year, the Bank noted.

The slowdown in the aggregate money supply growth rate was due, the Bank said, to lower growth and circulation of fiduciary money and savings account deposits, which fell from 12 per cent to 2.6 and 6.6 per cent respectively.

Meanwhile, the growth rate for term deposits rose from 6.6 to 9.9 per cent. Liquid assets stood at 2.77 billion dollars, down by 1.16 billion dollars or 29.6 per cent, the bank said.