COVID-19: Francophonie 18th summit in Tunisia postponed to 2021

L’Organisation Internationale de la Francophonie (OIF), also known as Francophonie, has postponed to next year its 18th summit, initially scheduled for December 2020 in Tunisia, over the covid-19 pandemic. “Due to the health crisis that has hit the entire world and the various uncertainties that stem from it, Tunisia proposed that the summit takes place […]

EAC member states to postpone launching monetary union, single currency rollout

A special task-force has proposed to delay the implementation of the East African Monetary Union (EAMU) until 2031 from initial date of 2024, saying it is too soon considering members have not attained all requirements. The proposed delay is an indictment on the members’ commitment to achieve EAMU, a key pillar of integration. The EAMU […]

Morocco to Set Up Market for Non-Performing Loans to Strengthen Financial Stability

Morocco is planning to set up a market for non-performing loans (NPLs) offering the possibility of buying and selling of unpaid loans beyond set deadline. Banks can sell NPLs to reduce risk, free up capital, and maintain profitability, while investors seek to profit by restructuring or recovering value. Morocco’s Central bank, Bank Al-Maghrib, has been […]