First Independent Mena Newspaper
The Moroccan government will support young entrepreneurs by canceling their debts owed to the State provided the overall or the remaining amount is less than $5000. The move was unveiled on Monday by Economy and Finance Minister Mohamed Benchaaboun while presenting the 2019 draft finance bill to the Parliament. It seeks to help young entrepreneurs […]
The European Union has agreed to increase its financial support to Morocco to €140 million, as proposed by Spain. The decision was made during the EU Summit of Heads of State and Government held on Wednesday and Thursday. The EU will contribute at least €140 million from EU funds’ to Morocco for the management of […]
The European Union can solve the problem of migration only in collaboration with Morocco, a country to which the EU grants a tiny part of the aid earmarked for the fight against illegal migration. The statement was made by Spanish Foreign Minister Josep Borrell in a hearing before the Joint Committee of the Congress of […]
The Tunisian government will not impose new taxes on companies and citizens in the 2019 budget, a statement released by the government said. According to the draft budget for 2019 released earlier this week, the government is committed to not burden economic institutions and citizens with new taxes in 2019 due to the “contributions they […]
Abdellatif Jouahri, Governor of Morocco’s Central Bank, Bank Al Maghrib, was distinguished for the second year in a row as one of the best performing heads of central banks in the world by the IMF and the Word Bank Group. Jouahri received an A grade award in Global Finance, awarded at a ceremony on the […]
Morocco has an open economy that qualifies it host the IMF-World Bank Group conference in 2021 said IMF chief Christine Lagarde. Speaking at the IMF-WB joint meetings in Bali, Lagarde lauded Morocco as a country that epitomizes “the convergence of the humanitarian values that unite us all.” She added that Morocco offers an optimal venue […]
Morocco’s 2019 draft appropriation bill will give priority to social development notably in the fields of education, health and employment, said a statement read out by Spokesman for the Royal Palace, Abdelhak Lamrini. The appropriation bill was reviewed at the ministerial council chaired by King Mohammed VI Wednesday and will be submitted to the parliament. […]
Morocco will issue an international bond in 2019 said governor of the Central bank Abdellatif Jouahri, adding that the country may consider the renewal of the IMF precautionary liquidity line which expires this year. Jouahri was speaking to the press at a regular press conference in which he announced that the Central bank maintains its […]
Morocco’s BCP bank started talks with French BCPE bank to buy major stakes in four of its African banks. BCP said in a statement it aims at acquiring BPCE’s controlling stakes in Cameroon, Madagascar, Congo and Tunisia. The French bank owns 68.5% of Banque Internationale du Cameroun pour l’Épargne et le Crédit (BICEC); 71% of […]
The European Bank for Reconstruction and Development (EBRD) has announced a €4.3 million loan to Moroccan packaging company Multisac SA, which specializes in the production of woven polypropylene bags. It is the first local company benefitting from EBRD’s and EU’s Trade and Competitiveness Program, which aims to improve value chains and make businesses more competitive […]