Rabat, June 13, 2013 (MAP)
Rabat, June 13, 2013 (MAP)
The Downgrading of Morocco’s MSCI index by Morgan Stanley Capital international and the showdown in the government coalition are the major topics commented by Moroccan editorialists this June 13, 2013.
Aujourd’hui le Maroc notes that the downgrading by Morgan Stanley Capital international of Morocco’s MSCI index from the emerging market category to the frontier market category is “a new sign that confirms Morocco’s economic hardships”
The paper plays down this downgrading and argues that in its new category, Morocco will be a forerunner and that downgrading is never a fatality if authorities learn the lesson.
It underlines that Morocco should work harder, lest other downgrading will follow.
On the same topic, L’Economiste considers that the Casablanca stock exchange boss, Karim Hajji, deserves a kudos for his ability to anticipate and alleviate the shock of an international downgrading.
Morocco’s inclusion in the emerging market category was made possible by arduous promotion efforts and because Morocco had a good product to sell, coupled to a wise and efficient economic and financial policy, the paper remarks, adding efforts need to be renewed and Benkirane (head of government) should scold his team and explain that the country’s financial image is strategic.
At the political level, Attajdid writes that plots seeking to shatter the government coalition have not fulfilled their goal and have not succeeded in creating within the majority an opposition that will confront the head of government, stressing that Morocco is the big loser in this stratagem because it has wasted political time that should have been used to conduct major reforms and endeavor collectively to change the pre-July 2011 political culture.
It argues that the ongoing process reform, strongly supported by an unshakable royal will is the only capital that Morocco possesses and on which social peace relies, warning that any attempt to squander this capital will not only weaken the government but will also plunge the country in uncertainty.
In an editorial titled “an opposition that weakens the parliament”, Al Ahdath Al Maghribia notes that the opposition seems resolved to reduce the head of government’s appearance on TV, after the Chamber of representatives has threatened to follow suit to the upper chamber, and boycott the monthly session.
For the editorialist, the real reason for this boycott threat is the opposition’s inability to produce a discourse capable of competing with the head of government’s.
This has prevented the holding of the annual session where the head of government was supposed to present his mid-term balance sheet, is worsening political tensions and hampering the finalization of the House of Representatives’ statute, the paper goes.