The International Finance Corporation (IFC), the World Bank’s private sector arm, said it plans to invest $373 million in Maghreb nations, mostly in Morocco and Tunisia as the two nations cut spending to reduce budget deficits. IFC investments in the region are designed to help the two North African governments form private-public partnerships to help […]
Morocco is planning to set up a market for non-performing loans (NPLs) offering the possibility of buying and selling of unpaid loans beyond set deadline. Banks can sell NPLs to reduce risk, free up capital, and maintain profitability, while investors seek to profit by restructuring or recovering value. Morocco’s Central bank, Bank Al-Maghrib, has been […]
The UN Security Council on Tuesday adopted a resolution extending the mandate of the African Union Support and Stabilization Mission in Somalia (AUSSOM) through 2026. AUSSOM, which replaced a previous transition mission in January, continues to support Somali security forces in the fight against Al Shabab. In August, Somali forces and AUSSOM recaptured the strategic […]
