S&P Lowers Egypt’s Credit Rating Outlook to Negative

World rating agency Standard & Poors has downgraded its long-term foreign- and local-currency sovereign credit ratings of Egypt to ‘B-‘ from ‘B’. It has also switched its outlook is negative, citing recent political developments that weakened Egypt’s institutions and the increasingly polarized political discourse that could undermine the effectiveness of policy-making. According to S&P, a […]

Morocco’s trade deficit eases by 18.2% in July

Morocco’s trade deficit in the first seven months this year eased by 18.2% as foreign demand on Moroccan industrial exports curbs imports, the foreign exchange office said. The office also cited a significant drop in energy imports triggered by lower prices in international markets. By July, Morocco’s energy imports slid 31, while equipment purchases dropped […]

UN counter-terrorism chief warns of ISIS’ surge in Africa, calls for global action

A senior UN counter-terrorism official has warned about the escalating threat level that the Islamic State (ISIL/Daesh) and other related terrorist groups pose to West Africa and particularly the Sahel amid the growing political unrest and instability in the region. Vladimir Voronkov, head of the UN Office of Counter-Terrorism (UNOCT), in a briefing to the […]