Washington: In its Country Risk Atlas 2026, Allianz Trade has maintained Morocco’s rating at “B1,” positioning it as “the safest country in Africa for business.” Allianz Trade has published its third Country Risk Atlas, a flagship study assessing economic outlooks, risks, and opportunities in 83 countries, representing approximately 94% of global GDP. The report is based on an exclusive risk assessment model, updated quarterly in line with the latest economic developments and Allianz Trade’s proprietary data.
According to Agence Marocaine De Presse, in the section concerning Morocco, the study notes that the Kingdom ‘displays robust economic growth, strengthened by its role as a manufacturing hub for Europe and its ambitions to become an energy hub. Allianz Trade has maintained Morocco’s rating at ‘B1,’ positioning it as the safest country in Africa for business,’ Allianz Trade stated in a press release.
“Morocco is set for strong economic growth, with GDP projected to rise by 3.7% in 2026 and 3.5% in 2027, driven by industrial production, foreign investment, and a recovery in agriculture. Tourism is booming, aided by events like the Africa Cup of Nations and the World Cup,” noted Lluis Dalmau, Economist for Africa and Middle East at Allianz Trade, as quoted in the statement.
Allianz Trade’s ratings “provide a comprehensive analysis and overview of the economic, political, business environment and sustainability factors that influence non-payment risk trends for companies at the macroeconomic level,” said Luca Moneta, Senior Economist for Emerging Markets at the insurer.
“Each rating combines 17 short-term indicators and 18 medium-term indicators, and serves as a pragmatic compass for decision-makers in a world beset by multiple crises, helping them navigate volatility, protect cash flow, and turn risk awareness into a competitive advantage,” he added.
In its report, Allianz Trade notes that despite a year marked by intense trade tensions and multiple risks (political, geopolitical, and fiscal), global country risk improved in 2025, with 36 countries upgraded and only 14 downgraded.
This trend, it specifies, highlights “the fiscal, monetary, and trade adjustment mechanisms that tend to emerge during periods of high uncertainty,” noting that among the 36 economies whose ratings improved are Argentina, Ecuador, Hungary, Italy, Spain, Turkey, and Vietnam.
“In 2025, upgrades were mainly driven by stronger macroeconomic fundamentals, supported by more accommodative fiscal and monetary policies. In several emerging markets, improved financing conditions, local currency appreciation, and higher commodity prices helped lift transfer and convertibility restrictions- an essential aspect of political risk,” said Ana Boata, Head of Economic Research at Allianz Trade.
Among high-income economies, improved political stability, disinflation, and solid trade performance strengthened resilience in Europe (notably in Germany, Greece, Italy, and Spain) and in the Asia-Pacific region (particularly in South Korea and Vietnam), she added.
While the number of downgrades “may seem low,” it is important to note that “it nearly tripled compared to 2024 (rising from 5 to 14),” Allianz Trade pointed out, adding that some key economies are on the list, underscoring “persistent medium-term challenges” for businesses.
“Resilience is spreading, but risk clusters persist in major economies. For example, last year we observed a deterioration in the medium-term macroeconomic environment in seven markets, compared with 18 that improved,” emphasized Aylin Somersan Coqui, CEO of Allianz Trade.
“The global economy is going through one of its most turbulent periods in decades, with a convergence of shocks and structural shifts such as AI, demographics, climate change, trade, and regulation. Uncertainty remains high, and companies must adopt a selective, country-by-country approach to grow their operations while protecting their assets. This underscores the need for granular and forward-looking risk management that goes beyond general ratings. Continuous monitoring of transfer and convertibility conditions, fiscal trajectories, and trade exposures will be essential to anticipate tipping points,” she concluded.
Allianz Trade is the world leader in trade credit insurance and a recognized specialist in bonding, collections, structured trade credit, and political risk. Its proprietary intelligence network is based on instant access to data on more than 289 million companies.
Headquartered in Paris, Allianz Trade operates in more than 40 countries with 5,800 employees. In 2024, its consolidated revenue amounted to pound 3.8 billion, and global insured business transactions represented pound 1.4 trillion in exposure.