Morocco’s Central Bank has decided to maintain the key interest rate unchanged at 2.25 percent due to deceleration in food prices and a slowdown of inflation from 2 % on average in the first quarter of this year to 0.7 % in April and 0.4 % in May. The decision was made by the Bank’s […]
Italian oil company Eni has started gas production in the Algerian Menzel Ledjmet East (220 km southeast of Hassi Messaoud) despite security fears exacerbated following last month hostage crisis that ended in a bloodbath in the North African country. Indeed, some 40 foreign workers, who were taken hostage by Islamist militants linked to Al Qaeda […]
Zimbabwe has finally launched a gold-backed currency to bring down inflation, ending a decade of dollarization. The new currency or Zig- standing for Zimbabwe Gold- is the latest attempt to end hyper-inflation in the country which lasted for 25 years. Zig is intended to be a market-determined exchange rate, said Zimbabwe’s central bank governor while […]
