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IMF: Morocco Still Qualifies For $3.4 Bln PLL

The International Monetary Fund has reaffirmed Morocco’s continued qualification for the Precautionary and Liquidity Line (PLL) Arrangement after a first review of its executive board. The two-year PLL arrangement for Morocco in the amount of SDR 2.504 billion (about US$3.42 billion) was approved by the IMF’s Executive Board in July 2016. After completing a first […]

US airstrike kills founding member of al-Shabab, Yusuf Jiis

The United States announced it has killed a founding member of the militant Islamist group al-Shabab, Yusuf Jiis, in an airstrike in Somalia carried out on April 2. The US Africa Command said in a press release Tuesday that its post-strike assessments confirm that one of the three terrorists killed in the command’s Apr. 2 […]

Fitch downgrades four Egyptian banks’ Issuer Default Ratings to “B”

Earlier this May, Fitch downgraded Egypt’s sovereign rating to “B” with a negative outlook. Three of the four banks, whose ratings it downgraded, are public banks exposed to the state. Rating agency Fitch downgraded on May 17 the credit ratings of four major Egyptian banks, namely The National Bank of Egypt (NBE), Banque Misr, Banque […]