Baraka: ‘We are reforming Morocco’s finances’

Finance minister Nizar Baraka says he can – and must – bring down Morocco’s gaping fiscal deficit. But after a debut dollar bond in December, how much can he change the country’s financial model in the midst of pan-Arab revolt?

Morocco has had a distinct advantage over its north African peers over the past two years: it looks utterly different from them. While Tunisia, Egypt and Libya have undergone a painful progress from revolution to rudderless uncertainty, and while oil-rich Algeria has suffered militant attacks on its infrastructure, Morocco has sailed through the Arab Spring largely unchanged and unscathed.

“We can say that Morocco had an evolution, not a revolution,” says Nizar Baraka, minister of economy and finance.

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