First Independent Mena Newspaper
The International Monetary Fund, the World Bank and the Kingdom of Morocco announced the postponement of the Marrakech annual meetings for a year until October 2022 The annual meetings are usually held for two consecutive years at the World Bank and IMF headquarters in Washington, and then in a member country every third year. […]
The Spanish government has approved, Tuesday, a €5 million loan to Morocco for the construction of two desalination plants in the cities of Zag and Moulay Brahim. The loan will be granted to the National Office for Electricity and Drinking Water (ONEE) through the Fund for the internationalization of the company (FIEM), according to the […]
The World Bank approved on Tuesday a $150 million funding in additional financing for Morocco’s Urban Transport Program, which seeks to improve the performance and the quality of public transport services. The additional funding will enable Morocco to adapt its program to address new priorities of mobility, including those related to the impact of covid-19 […]
The prompt measures adopted by Morocco after the outbreak of the coronavirus outbreak helped the country contain the economic and social impact of the pandemic, said the IMF, noting that the country should brace for deep recession this year. The Moroccan economy will contract by 6 to 7% this year due to the impact of […]
The Casablanca tramway company announced on Monday it secured a €100 million loan from the French Development Agency (AFD) for the building of two new lines (T3 & T4) to improve public urban transport in Morocco’s biggest city. The AFD financial support to the expansion of Casablanca Tramway network also includes a €500,000 grant to […]
MPs from the opposition joined their voice to labor unions which lambasted the government for planning to impose a solidarity tax on the salaries of middle class employees. During an examination of the draft budget law in the parliament, MPs deplored that the Middle Class continues to bear the brunt of government policies noting […]
Morocco’s second largest bank, BCP, is said to be planning to allow in a major Asian bank as stakeholder in a bid to diversify its portfolio to Asia, Bloomberg reported. “The sale, which could be enacted through a cash injection, is the linchpin of a five-year strategy starting in 2021 that the Casablanca-based lender plans […]
In accordance with Royal guidance, the government has elaborated a draft budget that provides for special measures to keep jobs, promote youth employment, generalize health insurance and reform civil service. The government, which examined the draft budget in its council, said in a statement that priority is attached to shoring up the economy through offering […]
Moroccan Minister of Economy and Finance Mohamed Benchaâboun highlighted the priorities of Morocco’s economic recovery plan at a virtual conference held Wednesday as part of the Annual Meetings of the International Monetary Fund (IMF) and the World Bank (WB). To help its economy recover from the covid-19 crisis, Morocco adopted a stimulus plan focused on […]
The United Nations Economic Commission for Africa is concerned about the alarming decline in remittances from African Diaspora. With the global economic crisis, these Diasporas are sending less money to their countries of origin. This year, the decline is expected to reach 21% or $18 billion less than in 2019. The anti-poverty organization ONE and […]