King MohammedVI-FAR

Morocco to issue dollar-denominated bond in 2023- Central Bank

Morocco would issue a dollar-denominated bond in 2023, the first since 2020, the central bank said. Morocco has yet to recover its investment grade although its most recent foreign debt issue was successful. Domestically, central bank official Youness Issami said the central bank has proceeded to purchases of treasury bonds for the first time The […]

State fund CDG estimates coronavirus toll on economy at $5.4 bln

State fund CDG said that the losses due to coronavirus could amount to $5.4 billion (54 billion dirhams) with Morocco expecting a recession in 2020. The study was based on the hypothesis of a four-month-long crisis and a gradual resumption of activity by July 2020. It expects agricultural production to contract by 6% with only […]

Canadian Company Exploring for Gold in Mauritania

Canadian company Algold Resources has been awarded a 30-year mining license to drill for gold in Tijirit project, in Mauritania. Under the terms of the mining license, Algold will deliver a feasibility study by December 2018. Algold acquired the Tijirit project in April 2016 and immediately commenced a major exploration program, under which it completed […]