Central Bank cuts interest rate to boost economic activity amid drought, coronavirus fears

The Central Bank cut its benchmark interest rate to 2% to boost economic activity, which, like elsewhere in the world, is expected to reel under the impact of the coronavirus outbreak. Drought has complicated the outlook for Morocco, which expected a contraction of agricultural output plunging growth to 2.3%, according to the central bank. The […]

Forex: falling euro drags CFA franc down, importing inflation and deepening debt

With the euro having recently declined to less than one US dollar, this development has a direct impact on the CFA franc, which has a fixed exchange rate parity value with the single European currency. The euro’s continued to slide toward the US dollar since 5 July has resulted in a 20-year low, according to […]

No permit has been given to build any Holocaust memorial in Marrakech-Authorities say

Local authorities in Marrakech said that there is no thing as such a memorial or museum in the commune of Ait Faska near Marrakech after news reports said that a Holocaust memorial opened in the area. Local authorities said in a statement that they did not issue a permit to build such a project. The […]