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Morocco’s OCP becomes first African issuer of dollar hybrid bond, raises 1.5 billion

Morocco’s phosphates and fertilizer giant OCP has raised $1.5 billion through its first international hybrid bond, marking a milestone as the first African corporate to issue a US dollar‑denominated hybrid instrument on global markets. The landmark transaction also helped reopen Middle East and North Africa public primary bond markets, which had been dormant for more […]

UN: Malta’s PM calls for withdrawal of ‘foreign fighters’ from Libya

Malta’s Prime Minister, Robert Abela, has called for the withdrawal of foreign forces from Libya and urged strict enforcement of the Libyan arms embargo, in accordance with Security Council resolutions. Speaking at the UN General Assembly, Abela emphasized that assisting the Libyan people in finding a lasting solution to their prolonged institutional crisis is a […]

Morocco’s 2022 growth forecast drops to 1.7%- government

Morocco’s economic outlook has worsened due to drought and external shocks, notably imported inflation, with growth prospects seen at between 1.5% and 1.7%, head of the Moroccan government Aziz Akhannouch said. The government had based its 2022 budget on a growth forecast of 3.2% and expected its budget deficit at 6.1%. Akhannouch said that high […]