First Independent Mena Newspaper
Morocco has hosted within four weeks three key events to leverage resources and spur joint action in favor of Africa’s financial resilience in the face of overlapping crises. Last month, Morocco hosted a meeting of African Union finance ministers to discuss common challenges and how to maintain steady funding for the continental organization. The same […]
King Mohammed VI has called for more international support and cooperation to enable African countries to mitigate the impacts of the soaring inflation affecting the global economy and enhance their resilience in the face of external shocks. In a message to participants in the 2022 Meeting of the African Caucus of Finance Ministers & Central […]
Credit rating agency Moody’s affirmed Morocco’s outlook to stable from negative while it maintained its long-term issuer at BA1. Moody’s noted the recovery of Morocco’s real GDP to levels backed by solid crisis management capacities by the government during the pandemic, the agency said in a statement. “The improved governance track record underpins Moody’s expectation […]
Tunisia is starting this Monday formal talks with the International Monetary Fund (IMF) for a credit line to be used to prop up the sluggish economy of the North African country, a source at the Central Bank of Tunisia (CBT) told state-run news agency TAP. The team of the Washington-based international financial institution is expected […]
Morocco’s health ministry and Israel’s IMS Ovadia Group signed a Memorandum of Understanding to build 5 hospitals in the country for a total cost of 5 billion dirhams ($500 mln). The deal is part of Morocco’s efforts to improve health services and bridge the gap in bed capacity between regions. The five new hospitals will […]
The OCP Foundation signed, Monday in Dakar, a $2.2 Mln agreement with the Senegalese Agency for Reforestation of the Great Green Wall (ASRGM) aimed at preserving biodiversity. The agreement aims to support community agricultural development and to build the capacity of the agency in terms of supporting and supervising local biodiversity projects. “This is a […]
Morocco and the IMF are in the early stages of negotiating a flexible liquidity line as a precaution against external shocks, including imported inflation. The news was unveiled by central bank governor Abdellatif Jouahri earlier this week and confirmed later by IMF representative to Morocco Roberto Cardarelli, who said Morocco was seeking a flexible credit […]
The World Bank approved Friday a $250 million loan to Morocco for the economic development of its North-Eastern region. The funding will help improve transport connectivity and enable private sector growth in the North-East region, notably around the development of the Nador West Med (NWM) maritime complex. Morocco is implementing a major infrastructure investment plan […]
The World Bank has approved a $100 million additional financing for the Casablanca Municipal Support Program. The amount adds to the initial program of $200 million originally approved in 2017. The program supports the city’s financial and institutional strengthening under the Greater Casablanca Development Plan (Plan de Développement du Grand Casablanca, PDGC) with the aim […]
Morocco’s central bank kept its key interest rate unchanged at an all-time low of 1.5%, in a sign that it is more concerned about promoting growth, than curbing a high inflation caused by exogenous factors. The Bank said inflation would soar to 5% in 2022 and drop to 2% next year. Central Bank governor had […]