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Category: Finance
Morgan Stanley downgrades Egypt’s sovereign credit rating to “dislike stance”
New York-based investment banking company Morgan Stanley has moved Egypt’s sovereign credit to a “dislike stance” from a “neutral” rating and noted that the cash-strapped ... Read More
Tuna bond scandal: Mozambique and Swiss UBS bank reach out-of-court settlement
Mozambique's bond market has rebounded following UBS Group AG's announcement of a an 11th-hour out-of-court settlement regarding Credit Suisse's involvement in a ship-financing ‘tuna bond' ... Read More
WB supports girls & women empowerment in Africa with $365 Mln funding
The World Bank Board has approved $365 million in International Development Association (IDA) financing to increase girls’ and women’s access to learning, economic opportunities, and ... Read More
IMF approves $1.3 Bln for Morocco under Resilience & Sustainability Facility Arrangement
The International Monetary Fund Executive Board has approved a Resilience and Sustainability Facility (RSF) for Morocco worth about $1.3 billion. The arrangement will support Morocco’s ... Read More
UAE flexes its climate finance muscles to contribute to Africa’s green energy transition
As the United Arab Emirates (UAE) prepares to host the COP28 climate summit from 30 November to 12 December, the Gulf state has made a ... Read More
Fitch Ratings highlights Morocco’s resilient liquidity in wake of earthquake
Fitch Ratings has released a note recognizing the impact of the earthquake on Morocco’s fiscal deficit while reassuring remittances from Moroccans abroad and the IMF’s ... Read More
Morocco’s Central Bank pauses monetary tightening as inflation eases
Morocco’s central bank pauses its monetary tightening as inflation is expected to further drop to 2.6% in 2024 from 6% in 2023 amid preparations for ... Read More
Central banks of Egypt, UAE ink bilateral currency swap Agreement
The Central bank of Egypt (CBE) and that of the United Arab Emirates (CBUAE) signed Thursday September 28 a Bilateral Currency Swap Agreement between the ... Read More
EBRD expects Morocco’s growth to reach 3.1 % in 2023
The European Bank for Reconstruction & Development expects Morocco’s economic growth to reach 3.1 % up from the 1.3 % recorded in 2022 when a ... Read More
Morocco’s Central Bank keeps rates unchanged, expects growth to reach 2.9 % in 2023 & 3.2 % in 2024
Morocco’s central bank has decided to keep its key rate unchanged at 3 percent due to the high degree of uncertainty surrounding the international developments ... Read More