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Economy / Morocco

New Constitution: Initial Thoughts

July 2011 | Political Risk Analysis

While the July 1 referendum for a new constitution in Morocco has by no means turned the country into a democracy, we believe that Rabat remains among the most reformist of the Middle East and North Africa (MENA) monarchies, and the drive gradually to transfer power from the King to an elected parliament is likely to continue over the coming years. We maintain that the changes brought by the new constitution will only be slightly visible in the coming months, but that they will play an important role in strengthening Morocco's political risk profile over the medium term.

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