The use of cash among Moroccans reached a high record last year due to the consequences of the coronavirus crisis and the ensuing quarantine. This drives families and businesses to withdraw more money from banks than usual.

According to the latest data from Bank Al-Maghrib, the value of cash in circulation at the end of 2020 was approximately 300 billion and 626 million Dirhams, an increase of 50 billion Dirhams from the end of 2019.

This amount of cash in circulation among Moroccans represents an increase of about 20.1 percent compared to the end of 2019. a massive and unique increase due to the impact of the Corona crisis on the Moroccan economy.

This unusual withdrawal bank funds in 2020 reflects the panic and fear caused by the imposed quarantine and the need for cash, both by individuals and companies. Keeping some cash money is seen as a precautionary measure to face the crisis.

Normally, Moroccans withdraw a lot of cash money from the banks during religious events or during the summer holidays, which the government considers wrong as it increases the lack of liquidity in financial institutions and is also a testament to people’ preference for cash instead of using bank cards and other payment solutions.

Therefore, the Moroccan Central Bank will be forced to fund the necessary money into the accounts of banks whenever a similar crisis occurs. This situation leads Abdellatif Jouahiri, the president of Bank Al Maghrib, to urge the frequent use of alternative solutions, such as phone payment services

The large volume of cash in circulation is negatively affecting the banking system’s ability to provide credits, and thus the financing new projects, especially in the face of this time of crisis that coincided with the adoption of a national plan to motivate small enterprises with soft loans.

It is noted that a large number of Moroccans still prefer to deal in “cash” although the authorities have taken measures to limit this through the development of online processes and the launching of mobile payment services which are still not common among Moroccans.

The financial authorities warn against the widespread use of cash as it leads to economic and social inefficiency and entails high costs for companies. This phenomenon also undermines equal opportunities for financial services, reducing the number of electronically financial transactions .

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According to Journal du Dimanche, France is facing another closure, within few days, amid fears of a new wave of Coronavirus outbreak; driven by the new strain first discovered in Britain.

As stated by the same source, the decision is imminent. French President Emmanuel Macron may announce the third quarantine in the country by next Wednesday’s evening.

On the report of the newspaper, the new closure could begin before the weekend, and last for three weeks at least. There was no comment from Ministry of Health officials in this regard.

Last Thursday, Health Minister Olivier Ferran said it is possible to make a decision on a new closure or stricter restrictions within days or weeks. France has crossed 3M cases on Friday.

Experts warn from infections caused by the new strain, which is highly transmissible and possibly more deadly since it was discovered in Britain last year; saying they will likely increase in the coming weeks.

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After the discovery of the new strain of Coronavirus in the UK, The swiss governement has imposed quarantine measures for anyone who arrived in the country from Britain since  December 14.

Around 200 of the 420 of the affected Britons in Verbier who were ordered to quarantine are thought to have left in the night, rather than remain indoors for more than a week and see their plans go downhill.

Some of the british holidaymakers left immediately, while others stuck it out for a short time before quitting, according to a local newspaper.

“Many of them stayed in quarantine for a day before they set off unnoticed under the cover of darkness,” Jean-Marc Sandoz, a spokesman for the wider Bagnes municipality, told the SonntagsZeitung.

Speaking about the hotel staff, Mr Sandoz told the ATS news agency: “It was when they saw the meal trays remained untouched that the hoteliers noticed that the customers had gone.”

He said that according to a survey on Saturday of the resort’s hotels, fewer than 10 people would still be in quarantine and the rest would either have left or their isolation time would have ended.

“We can’t blame them. In most cases, quarantine was untenable. Imagine four people staying in a hotel room of 20 square metres,” Mr Sandoz added.

He said the tourists had left feeling “a little angry with Switzerland” and with the sense of having been “trapped”.

British tourists usually make up 21% of Verbier’s visitors, and most start arriving after Christmas.

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Khalid Ait Taleb, the Minister of Health, said in an interview with the Russian agency “Sputnik” that Morocco’s return to quarantine is inevitable if things get out of control.

He emphasized that the epidemiological situation in Morocco is under control, but the high number of critical cases compared to the limited capacity of the health system, especially in Casablanca, is a matter of concern.

He pointed out that Morocco has been suffering, for a long time, from many problems; most notably, shortage of human resources. He indicated that the pandemic has complicated matters, that more than 1600 cases were recorded in the medical and nursing staff.

The minister attributed the disappearance of “vitamin C” from pharmacies to citizens buying and storing large quantities of it. He confirms that Morocco produces one million doses of this vitamin every month, and is able to produce it in an amount that exceeds the real needs of citizens.

Ait Taleb: We plan to discuss the Russian Vaccine “Sputnik-V” with the Russian Minister of Health, and do our Best to start the Vaccination Campaign Mid-December.

The Minister of Health, Khalid Ait Taleb, verified in an interview with the Russian agency “Sputnik” that the ministry is making its best efforts to start the vaccination campaign against Coronavirus in mid-December.

He expressed his hope for its period to be very short and not exceed 3 months. This way, we can go back to normal as soon as possible.

The campaign covers 80% of people over 18. Those at risk come first.

Ait Taleb highlighted the country’s benefit. That is Morocco’s participation, for the first time, in trials of multi-sourced vaccines.

He directed attention to the ministry targeting several companies during negotiations. It settled on the Chinese laboratory “Sinopharm” and the British-Swedish group “AstraZeneca”.

The minister said that he is willing to talk over the Russian vaccine “Sputnik” with his Russian counterpart next week.

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