Bank cash positions will be under pressure for the next 3 years. This is what Bank Al-Maghrib indicated in its monetary policy report for the 4th quarter of 2018. According to the institution, the liquidity deficit will widen by 2020. Thus, by the end of 2018, banks’ cash requirement will reach 69.7 billion DH, compared with 40.9 billion recorded in 2017. By the end of 2019 it is expected to deepen to 72.1 billion, and to 86.2 billion by the end of 2020.
According to the central bank’s analyses, this would be due to the effects of the trend towards stabilisation of foreign exchange reserves. These should stand at 230.4 billion DH at the end of December before reaching 239 billion in 2019 and falling back to 235.7 in 2020. Added to this are inflows of grants from Gulf partners, estimated at 4.8 billion DH in 2018 and 2 billion in 2019.