First Independent Mena Newspaper
The Moroccan parliament has adopted a decree allowing the government to resort to unlimited foreign borrowing in order to ensure enough international reserves to fuel the economy. Morocco’s trade balance has been chronically suffering from a trade deficit that has deepened in the first quarter this year due to falling exports as a consequence of […]
The Algerian Finance Minister debunked the government over the country’s finance following the crash of global oil, noting that the situation is dire and that it is pointless to lie. Abderrahmane Raouya, during an improvised press conference in capital Algiers Wednesday, confirmed that the state finances have drastically dwindled, TSA reports. The North African country […]
The World Bank will grant Tunisia $35 million destined to support the health ministry in its fight against the novel covid-19 and finance the purchase of medical equipment. The Washington-based institution in a statement said $20 million of the aid package is earmarked to bolster the capacity of the health system and support the North […]
Morocco will review its 2020 appropriation bill in light of the macro-economic disruptions caused by the coronavirus and in preparation for the post-virus era, the economic monitoring committee said. The Committee, set up to address the consequences of the virus on the economy, said in its sixth meeting it will look into the cases of […]
World Athletics launched on Tuesday, upon the initiative of Moroccan former athletics star Hicham El Guerrouj, a $500,000 fund to support professional athletes experiencing financial hardship due to the coronavirus pandemic. The fund, set up in partnership with the International Athletics Foundation (IAF), will be used to assist athletes who have lost most of their […]
Fitch Ratings has affirmed Morocco at ‘BBB-‘ rating and revised the Outlook on country’s Long-Term Foreign-Currency Issuer Default Rating (IDR) to negative. The global rating agency explained the negative outlook by the impact of the coronavirus pandemic on the Moroccan economy which will experience the sharpest GDP contraction in 25 years, besides a marked increase […]
The Moroccan state will distribute aid to 4.3 million families, headed by workers in the informal sector, as the coronavirus outbreak and the measures to contain it freeze economic activity in multiple sectors pushing millions to temporary unemployment, finance minister Benchaaboun said. During the parliament question time Monday, Benchaaboun said that 2.3 million households have […]
The coronavirus pandemic and its economic consequences in host countries will have a negative impact on migrants’ money transfers to Africa, which are expected to fall sharply in 2020, according to World Bank experts. The COVID-19 pandemic is a blow to the economy of the countries on the African Continent, the experts say. In 2019, […]
The EU will offer $150 million in support to Morocco’s education sector in its efforts to promote distance learning which has become vital amid a lockdown to counter the coronavirus outbreak. In this regards, the EU, Morocco’s finance ministry and education ministry signed a deal to help invest the money to promote Morocco’s educational offer, […]
The assistance operation conducted every Ramadan to support needy families in Morocco was launched at the instruction of King Mohammed VI this Saturday, which marks the first day of Ramadan in the country. King Mohammed VI gave his instructions for the launch of the Ramadan 1441 food distribution operation, for 600,000 needy families, including 459,504 […]