IMF Chief Welcomes Morocco’s Budgetary & Sectoral Reforms

IMF Managing Director, Christine Lagarde, commended Morocco for the “genuine” budgetary and sectoral reforms it has undertaken to balance its finances. The IMF head told the press on the sidelines of the annual meetings of the IMF and the World Bank that Morocco has used its credit line to carry out fiscal and structural reforms. […]

Egypt’s Suez Canal Bank to pull out of Middle East Oil Refinery

The publicly listed company, Suez Canal Bank, says it will withdraw entirely from Middle East Oil Refinery (Midor), Zawya reports. The operation will generate $30.4 million for Suez Canal Bank as 1.27 percent stake (560,000 shares) will be sold to Egyptian General Petroleum Corporation (EGPC) at $54.7 per share. The financial service institution posted a […]

UN/Sahara: Several countries reaffirm support for Moroccan Autonomy Plan

Several countries have reaffirmed strong support for the “realistic & serious” autonomy plan offered by Morocco for the Sahara under its sovereignty during the UN C-24 regional seminar held lately in Bali, Indonesia. Addressing the UN Committee, the representative of Gabon said her country backs the “credible” autonomy plan proposed by Rabat for a lasting […]