morocco serbia

Converting Debt to Shares, a Possible Scenario to Save Morocco’s Sole refinery

Creditors of Morocco’s sole refinery, Samir, are putting on the table the alternative of converting the massive 43-billion-dirham debt ($4.55 billion) into shares, a move that entails giving creditors a say in the board of trustees, Moroccan media reported on July 11. After an appeals court in Casablanca upheld a ruling placing the refinery into […]

Remittances by Moroccans abroad account for 20% of Morocco’s total forex reserves

Money sent home by Moroccans living abroad represented 20% of overall foreign exchange reserves held by Morocco, head of the government Saad Eddine El Othmani said. Despite the pandemic, remittances proved resilience and showed the values of solidarities held dear by Moroccans. Total remittances stood at 7.4 billion dirhams in 2020, up from 6.9 billion […]

ASEAN Secretary General supports Morocco’s territorial integrity & commends royal initiative for Africa

Secretary General of the Association of Southeast Asian Nations (ASEAN), Kao Kim Hourn, has expressed steadfast support for Morocco’s territorial integrity and hailed the royal initiatives launched for Africa’s development and prosperity. The supportive stands come in a joint statement released Tuesday in Rabat following Kao’s meeting with Moroccan Foreign Minister Nasser Bourita. The two […]