The Moroccan plant of French carmaker Renault reported a 9.3% increase in manufactured vehicles to 382,661, placing the factory as the second largest within the Renault group in terms of output volume. The figures were given by head of Renault Maroc, Mohamed Bachiri, who said 90% of produced vehicles were sold in 68 countries. Morocco-produced […]
Moody’s Investors Service cuts Egypt’s sovereign rating by one notch to B3 from B2, saying that it does not expect the country’s liquidity and external positions to rebound quickly. The change comes as the Arab country has continued to face a foreign currency shortage despite allowing the Egyptian pound to depreciate sharply in recent months. […]
Niger failed to make a debt payment of 13.4 billion CFA francs ($22 million) last week, the West African debt management agency said on Monday (19 February), bringing the total default to $519 million since a coup in July 2023 and its subsequent suspension from regional financial markets. The West African Economic Monetary Union (WAEMU) […]
