The document discusses guarantees from an international perspective and focuses on the Caisse Centrale de Garantie in Morocco. It outlines some of the obstacles faced by the Caisse Centrale de Garantie including bureaucracy, complex procedures, and restrictive payment conditions. It also discusses the Caisse Centrale de Garantie's strengths like financial solvency and credibility. In 2007, Morocco revised its national guarantee system to rationalize it, rethink its architecture, and strengthen intervention capacity with the state as the central actor and Caisse Centrale de Garantie as the sole operator. The impact of Caisse Centrale de Garantie's guarantees has been significant,