Remittances by Moroccans abroad hit record $10.7 bln

Remittances by Moroccans abroad hit a record 100 billion dirhams ($10.7 bln) in 2021 compared to 70 billion dirhams in 2020, offsetting losses of the tourism sector, minister delegate in charge of investments said. Remittances have contributed to the consolidation of Morocco’s international reserves which rose to 330.4 billion dirhams ($35.7 bln), enough to cover […]

Kenyan default fears intensify as anti-government protests are to resume

Investors are unloading Kenya’s dollar bonds due 2028, whose yields have climbed to 14.6% and the shilling has also trading at a record low, while opposition leader Raila Odinga’s Azimio La Umoja (Declaration of Unity) party has said protests against government policies would resume after Islam’s holy month of Ramadan, if no progress had been […]

Rabat Suspends Twining Agreement With Guatemala’s capital Over Jerusalem

Rabat has suspended a twining agreement with Guatemala city after the latter’s diplomatic services recognized Jerusalem as capital of Israel. In moving its embassy to Jerusalem, Guatemala was the second country after the US to violate international law. In reaction, Rabat’s city council decided by an unanimous vote to suspend the twining agreement with Guatemala […]