First Independent Mena Newspaper
Morocco and the World Bank inked a deal under which the North African country shall benefit from a precautionary line of 275 million dollars in the case of natural disasters. The deal was signed in Rabat by Finance Minister Mohammed Benchaaboun and Maghreb director at WB Jesko Hentschel. The World Bank had said in a […]
Bank Al-Maghrib, Morocco’s central bank, has become member of the Bank for International Settlements (BIS), the oldest international financial institution, which helps central banks in their pursuit of monetary and financial stability through international cooperation. The decision was made lately by the BIS Board of Directors, which agreed to expand its membership by including the […]
Morocco’s economy is seen growing to 3.5% in 2020 amid prospects of an average crop year, the high commission for planning said in its recent forecast. Affected by lower cereals production, economic growth shrunk to 2.3% in 2019, the agency said, while calling for gearing investments to productive sectors. A committee is currently holding consultations […]
King Mohammed VI chaired the signing ceremony of a deal outlining different measures to guarantee regular water supply in the country over the next eight years for a total cost of 115.4 billion dirhams (€10.8 billion). The King was briefed on this occasion on the salient points of the 2020-2027 National drinking and irrigation water […]
The World Bank expects Morocco’s economic growth to jump from 2.7% in 2019 to 3.5% in 2020, the World Bank said citing Morocco’s reforms to curb fiscal deficit and boost exports. Morocco’s GDP should increase at a slower pace to 3.6 in 2021 and 3.8 in 2022, the World Bank said in its Global Economic […]
EBRD signs a €2 million loan with Advans Tunisie, equivalent to 6.5 million Tunisian dinars. The funds to boost Technical assistance will help strengthen credit and operational risk management. The EBRD is helping to increase the availability of funds for small firms in Tunisia through a local currency loan equivalent to €2 million to Advans […]
China has extended Mauritania a $87 million loan to be used for the construction of a fishing harbor expected to generate 800 permanent jobs and handle around 400,000 tons of merchandise yearly. Minister of Finance and Industry Cheikh El Kebir Moulaye Taher told lawmakers Tuesday that the future port will be located 25 km north […]
The vigilance of Laayoune police elements allowed the arrest of an individual with a suitcase full of euro banknotes. This individual, in an irregular situation in Morocco, is allegedly involved in illicit currency transfer. The national of a neighboring African country was arrested in the city of Laâyoune, reported this Thursday local Al Akhbar daily, […]
Nigeria is studying the currency changes ringing through the West African region and will respond in due course, a statement by a media aide to the Minister of Finance, Budget and National Planning said. “Nigeria has received the news of the change of the UEMOA Currency, the CFA (Communaute Financiere d’Afrique) to Eco supposedly as […]
Morocco took a series of measures to fight tax evasion, which would eventually lead to taking the country off the EU’s so called tax haven grey list. Morocco will no longer be part of that list starting January 2020, local media La vie Eco reported, citing the multiple efforts by the country to improve financial […]