EU-Commission

West Africa to replace CFA franc; new currency pegged to the Euro

Côte d’Ivoire’s President Alassane Ouattara has announced that West Africa’s monetary union has agreed with France to rename its CFA franc the Eco and cut some of the financial links with Paris. The CFA will undergo three major changes, according to Ivorian President Alassane Ouattara. The name will change to Eco in 2020; France, would […]

S&P raises Morocco’s rating to ‘BBB-/A-3’ with stable outlook

The Standard & Poors agency has raised Morocco’s sovereign credit rating from ‘BB+/B’ to ‘BBB-/A-3’ with stable outlook thanks to the resilience shown by the country’s economy in the face of consecutive economic shocks, including the one triggered by the instability in global trade because of U.S. trade tariffs. Economic growth prospects are solid, with […]

Morocco’s budget deficit increases two-fold by May to 2.2 $bln

Morocco’s budget deficit widened to 22.9 billion dirhams ($2.3 billion) at the end of May 2025, up from 11.2 billion dirhams a year earlier, the treasury said. The deficit was however offset by a positive balance of 14.1 billion dirhams from special treasury accounts and autonomously managed state services. Total ordinary revenues rose 19.6% year-on-year […]