Morocco's finance watchdog probes 'frozen guarantees' in public deals

Morocco's General Inspectorate of Finance has launched an investigation into the management of financial guarantees within public sector contracts. Inspectors are examining how these guarantees, which secure the performance of contractors, are handled by public institutions and companies.

The initial phase of the audit concentrates on verifying whether legal timelines for the release of both temporary and final financial guarantees have been respected. This scrutiny is intended to uncover any irregularities that may have impacted the execution of contracts and the relationships between government departments and their contracted firms.

Sources indicate that the investigation seeks to ensure greater transparency and accountability in public procurement processes. By focusing on the financial guarantees, authorities aim to identify systemic issues that could lead to delays, disputes, or financial losses for the state. The findings are expected to inform potential reforms to improve the efficiency and fairness of public tendering and contract management.