S&P Dow Jones Indices reclassifies Morocco as frontier market
S&P Dow Jones Indices has announced the results of its Country Classification Consultation initiated in July 2014, which included the reclassification of Morocco market.
The reclassification of Morocco was largely due to persistent problems with lack of liquidity in the local market.”The declining trend in market liquidity over the last several years does not align with other emerging markets, making it more appropriate to be classified as a frontier market” the index provider stated.
S&P Dow Jones also confirmed that Egypt remains classified as an emerging market, while Kuwait, Oman, Pakistan and Nigeria continue to be seen as frontier markets. Palestine, Zimbabwe and Saudi Arabia continue to be classified as stand-alone markets.