VZCZCXYZ0013
RR RUEHWEB

DE RUEHRB #0876 3011852
ZNR UUUUU ZZH
R 281852Z OCT 09
FM AMEMBASSY RABAT
TO RUEHC/SECSTATE WASHDC 0779
INFO RUCNMGH/MAGHREB COLLECTIVE
RUEHCL/AMCONSUL CASABLANCA 4746
RUEHGV/USMISSION GENEVA 1171

UNCLAS RABAT 000876 
 
SIPDIS 
 
STATE FOR EEB/IFD/ODF, PRM, NEA/MAG AND NEA/RA 
 
E.O. 12958: N/A 
TAGS: EFIN SMIG PREF MO
SUBJECT: IOM CONFERENCE HIGHLIGHTS IMPORTANCE OF 
REMITTANCES TO MOROCCO'S BALANCE OF PAYMENTS 
 
REF: RABAT 0782 
 
¶1.   The Government of Morocco (GOM) and the 
International Organization for Migration (IOM) 
organized a conference on the Impact of the World 
Economic Crisis on Migration, October 12 and 13, in 
Rabat.  Minister-delegate for Moroccans Living 
Abroad Mohammed Ameur, IOM Director General William 
Swing and Moroccan central bank governor Abdellatif 
Jouahri set the stage with statistics, noting that 
the world's 220 million migrants would constitute 
one of the world's ten wealthiest and most populous 
countries with if they all lived together. 
 
¶2.  Governor Jouahri emphasized that remittances 
from Moroccans living abroad accounted for eight 
percent of GDP and 27 percent of domestic bank 
deposits.  Morocco is thus the 15th most important 
destination for remittances in the world and the 
second largest in the Middle East and North Africa - 
- after Egypt.  (NOTE:  Revenue from tourism is just 
slightly greater than remittances as a source of 
foreign income.  END NOTE.) 
 
¶3.  While remittances rose pretty steadily in 
Morocco and worldwide from 2002 through 2007, the 
World Bank estimated that they will decline between 
7.3 and 10 percent in 2009 before likely rising 3 
percent in 2010.  Sixty-seven percent of remittances 
to Morocco flow from Europe.  Interestingly, while 
anecdotes suggest that the crisis has 
disproportionately affected Moroccans residing in 
Europe, over 2 million Moroccans residing in Europe 
crossed the Strait of Gibraltar to visit their 
native country this summer, and the number was 
higher than in 2008. 
 
KAPLAN