Moroccan government renews will to alleviate debt burden

The Moroccan government will spare no effort to alleviate the burden of external and internal debt, the minister of economic forecast and planning said.

In order to achieve the objective of reducing its external and internal debt, Morocco has to increase its exports and attract more investments, Abdelhamid Aouad told a local daily.

Morocco, whose external debt is estimated at $25 billion, is trying to alleviate the problem through having its debt swapped into investments, especially with France, Spain and Italy.

Aouad said the 1999-2003 five-year development plan will define the objectives of the social and economic development of Morocco.

The plan will seek to reform administration and justice, consolidate decentralization, deal with joblessness and enable Morocco to take up the challenges of international competition, the minister said.

Aouad, who stressed that education is the key to modernization, called for enhancing human resources, eradicating social exclusion and consolidating women's role in society.