Algeria military

Fitch Ratings underscores Morocco’s macroeconomic stability, external liquidity buffers

Despite the coronavirus crisis impact, Morocco maintains macroeconomic stability, low inflation and a relatively comfortable level of foreign exchange reserves that act as external liquidity buffers, Fitch Ratings said. The agency affirmed Morocco’s long-term foreign-currency issuer default rating at ‘BB+’ with a Stable Outlook. Fitch Ratings however expects the government’s budget deficit to stand at […]

Africa’s Continental Free Trade Area takes effect

Gambia’s National Assembly has ratified the agreement that seeks to establish the African Continental Free Trade Area (AfCFTA). Twenty-two signatures were the minimum threshold required to approve the deal among the 55 member states of the African Union. With Gambia’s ratification, the continent’s free trade agreement has drawn enough signatures to go into operation. The […]

Morocco to extend stipend to tourism workers hit by Covid-19 restrictions

The Moroccan government has approved a measure to extend stipend in aid to workers in the tourism industry who have been idled due to the restrictive measures taken by the government to contain Covid-19 outbreak. Morocco has closed its borders to all passenger traffic amid the surge of the new Omicron variant. The decision took […]