Article: Morocco - Down in the dumps.(Brief Article)

RABAT

WHERE is Morocco's feel-good factor? The country has a new king, who sounds optimistic and is making popular changes. It has a new agreement with the European Union that provides for phased tariff-free trade by 2012, and foreign investment is at an all-time high. But still businessmen are nervous. Last year, on November 9th, when most Moroccans celebrated the fall of a hated interior minister, Driss Basri, as their Day of Independence, the Casablanca bourse actually slipped. It has since fallen by 10%, with reports of rich Moroccans moving their money abroad. Some economists speak of a looming crisis.

When Mr Basri entered government in 1974, ...

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