Algeria: $58 billion of Foreign Exchange Reserves Lost in 2 Years

Collapse of oil revenues and sharp increase in importations have caused a huge dent in Algeria’s foreign reserves with figures pointing at $58 billion loss since 2014; year of exceptional growth, the country’s Prime Minister said on Sunday. Prime Minister Abdelmalek Sellal at a tripartite meeting including government, worker’s syndicate and employers, indicated that Algeria […]

Benin gets €80 million-loan from AfDB to upgrade Cotonou Port

Benin has secured an 80 million euros loan facility from the African Development Bank (AfDB) to improve and expand Cotonou harbor, one of the main maritime access points for landlocked countries in West Africa. The loan is split into two: €55 million from the African Development Bank and €25 million from Africa Growing Together Fund, […]

Moroccan Govt Spokesperson Debunks in Washington Polisario’s Allegations

Government Spokesperson, Mustapha El Khalfi took part at a meeting in Washington Press Club during which he debunked a set of allegations continuously used by separatists in their Algerian-funded propaganda. The meeting, organized part of the International Media Forum 3, sponsored by the Moroccan-American Network, was held in a context marked by toughening of rhetoric […]