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Morocco targets economic diversification to secure long-term growth

Morocco has taken a series of reforms to diversify the triggers of growth for its economy away from dependence on agriculture, phosphates and tourism through developing competitive industries and diversifying its trading partners. Agriculture weights about 15% of the Moroccan economy making the amount of rainfall key to influence economic performance. Last year, cereals output […]

Libya: HoR-backed army Chief of staff threatens to attack oil tankers unauthorized by HoR

UNSMIL Head Martin Kobler Monday received a blow as Libyan army commander backed by the House of Representatives (HoR) threatened to attack any oil vessels entering Libyan waters if not authorized by National Oil Company (NOC) recognized by the HoR. Army Chief of staff Abdelrazak Nazhuri said the vessels will be attacked by army aviation […]

Africa’s debt crisis: interest payments on debt soar amid govt’s growing financial strain

As many African countries are struggling to service their debts, a new World Bank report warns that interest payments on long-term debt in sub-Saharan Africa surged nearly seven-fold to $26 billion between 2010 and 2023. The sharp increase came as the region’s foreign borrowing doubled to $864 billion within the same period. Africa’s worsening debt […]