First Independent Mena Newspaper
State fund CDG said that the losses due to coronavirus could amount to $5.4 billion (54 billion dirhams) with Morocco expecting a recession in 2020. The study was based on the hypothesis of a four-month-long crisis and a gradual resumption of activity by July 2020. It expects agricultural production to contract by 6% with only […]
Morocco will invest $1 million in scientific research in areas related to the management of pandemic crises, with focus in the short term on the Coronavirus pandemic. The Ministry of Higher Education and Scientific Research announced the adoption of a support program for multidisciplinary scientific research in areas related to pandemic crises, for which a […]
Doctors, nurses and other medical staff who treat coronavirus patients will be paid for the risk they are exposed to, a health ministry source told Moroccan media. The ministry has confirmed to different health system unions that they will pay the family of the doctor who lost her life due to a coronavirus infection as […]
The EBRD, together with the European Union (EU), is stepping up efforts to support small and medium-sized enterprises managed and owned by businesswomen in Morocco, amidst the coronavirus pandemic, considering that women entrepreneurs are expected to be disproportionately affected by the crisis as their firms tend to be concentrated in certain sectors. The EBRD is […]
The African Development Bank Group has announced the creation of the COVID-19 Response Facility to assist regional member countries in fighting the pandemic. The Facility is the latest measure taken by the Bank to respond to the pandemic and will be the institution’s primary channel for its efforts to address the crisis. It provides up […]
The World Bank has warned that the rapidlyspreading coronavirus outbreak is expected to push sub-Saharan Africa into recession in 2020 for the first time in 25 years. The International lender’s Africa’s Pulse report released on Tuesday said the region’s economy will contract 2.1% to 5.1% from growth of 2.4% last year, and that the coronavirus […]
Morocco’s gross domestic product is set to recede in the second quarter by 1.8% as the coronavirus and the measures relating to it halted most of services and hit sectors that are vital to foreign currency revenues, the high commission for planning HCP said. The economy is expected to grow only by 1.1% in the […]
The European Investment Bank Group (EIB) announced a financial support for the private sector in Morocco worth €440 million, notably through its credit lines with Moroccan financial institutions. The loan is intended to assist Morocco in addressing the impact of COVID-19 on the economy. “These credit lines dedicated to financing the private sector would be […]
The International Monetary Fund has vowed to remain closely engaged with Morocco as the authorities address the impact of the coronavirus pandemic. This came in a communiqué issued by the IMF confirming that the North African country drew the $3 billion available resources under the arrangement. The authorities will use funds purchased under the PLL […]
Morocco is about to tap into a $3 billion precautionary liquidity line, offered by the IMF in 2018 to help the country face external shocks, Moroccan media reported. The Moroccan government removed the limit on foreign debt on Monday in order to meet its financing needs amid a rise in expenditures and a drop in […]