signing of 17 investment conventions

Africa’s debt crisis: interest payments on debt soar amid govt’s growing financial strain

As many African countries are struggling to service their debts, a new World Bank report warns that interest payments on long-term debt in sub-Saharan Africa surged nearly seven-fold to $26 billion between 2010 and 2023. The sharp increase came as the region’s foreign borrowing doubled to $864 billion within the same period. Africa’s worsening debt […]

Morocco, Egypt discus Libyan political solution

Morocco’s Foreign Minister Nasser Bourita held talks with his Egyptian peer Sameh Shokry on the situation in Libya and the latest efforts to push for a political solution. This came as Morocco hosts talks in Bouznika, bringing together representatives of the Tobrouk-based Libyan parliament and the Libyan High Council of state, with the first representing […]

Exclusion of Russia from SWIFT System casts doubt over Algeria’s arms deal

The $7 billion arms deal the Algerian military regime sealed last year with the Kremlin has hit a serious snag after the European Union, the US, the UK and their allies have banned Russian Banks from SWIFT system in response to Russia’s invasion of Ukraine. The move of unplugging almost all Russian banks from the […]