First Independent Mena Newspaper
King Mohammed VI has laid out his vision to spur a genuine African investment industry that can guarantee massive, sustainable mobilization of capital and ensure effective integration into financial markets. In a message addressed Monday to the conference of Africa Sovereign Investors Forum “ASIF” convened in Rabat, the Monarch said sovereign wealth and strategic investment […]
The World Bank (WB) has just approved a $500 million loan to improve protection against health risks, childhood human capital losses, old-age poverty and climate change in Morocco. This is the first in a series of three grants for a government reform program that is concurrently receiving support from other development partners, the Washington-based organization […]
The European Union has granted Tunisia €162 million to support the country’s various reforms that are expected to revive the economy. EU ambassador to Tunisia Marcus Cornaro announced the grant during a meeting Wednesday with Tunisia’s Minister of Economy and Planning Samir Saied, Webdo Tunis reports. The financial aid will reportedly support reforms in several […]
Libya’s parliament, The House of Representatives (HoR), voted in favor of a budget worth around $18 billion proposed by Fathi Bashagha, the legislature’s choice for the job of Prime Minister. “The State’s General Budget Law for the year 2022 was unanimously approved,” said HoR Spokesman, Abdulla Beihiq following a session held in Sirte. 103 members […]
Morocco’s central bank will hold its second meeting this year on June 21 to take key monetary policy decisions with analysts predicting the bank to increase key borrowing rates to mitigate the impact of imported inflation. Morocco has maintained the key interest rate at an all-time low of 1.5% since June 2020 to spur the […]
Moroccan Minister of Economy and Finance, Nadia Fettah Alaoui, met, Wednesday in Rabat, with a delegation of the International Monetary Fund (IMF) led by the Fund’s Deputy Managing Director, Antoinette Monsio Sayeh. The meeting was an opportunity for Fettah Alaoui to exchange views with the IMF official on the national and international economic situation and […]
Morocco’s economic growth is expected to slow to 1.1% in 2022 due to a sharp drop in agricultural production but national GDP will increase 4.3% in 2023, the World Bank said. Morocco’s economy grew 7.8% last year as the economy continued to recover from the Covid-19 impact amid an exceptional agricultural output making up for […]
Remittances by Moroccan expatriates exceeded 30.56 billion dirhams at the end of April 2022, against MAD 29.03 billion a year earlier, according to the Office des Changes (exchange office). These transfers are up 5.3% or 1.52 billion dirhams, said the Office in its monthly bulletin of foreign trade indicators for April 2022. The Office also […]
Aguila Saleh, Speaker of the Libyan parliament and Fathi Bashagha, one of Libya’s rival Prime Ministers, arrived Monday in the city of Sirte for the chamber meeting of Tuesday to discuss the draft general budget law for the year 2022 submitted by the former Interior Minister. Saleh landed at Al-Qardabiya Airport on Monday evening and […]
The African Development Bank Group has approved an additional financing of €57 million for Morocco to help finance the ongoing construction of the Nador West Med port complex. This financing completes a first funding of nearly €113 million, granted by the Bank in 2015, said AfDB in a press release, published on the sidelines of […]