Morocco leads North Africa in risk assessment as Guinea improves OECD rating

Morocco maintains its position as the lowest-risk country in North Africa according to the latest Coface barometer. The credit insurer has maintained a “B” rating for Morocco’s country risk, representing an intermediate level, while its business climate receives an “A4” rating, indicating reasonable risk. Morocco’s stability is supported by its attractiveness to foreign investors and tourists, as well as resilient domestic demand, despite global pressures from rising energy prices and inflation.

In contrast, neighboring economies such as Algeria, Tunisia, Egypt, and Mauritania are classified as high-risk, with Libya remaining in the extreme risk category. Egypt and Tunisia are particularly vulnerable due to rising food and energy costs and the regional impact of Middle East tensions.

Separately, Guinea has seen an improvement in its OECD country risk classification, moving from category 7 to category 6. This change, effective as of October 2026, is intended to determine minimum risk premiums for international export credit operations supported by public funding. The OECD assessment considers economic stability, payment history, and institutional quality to evaluate the risk of non-repayment on international financial commitments.