First Independent Mena Newspaper
The Algerian economy has been heavily battered by the slump in oil prices evoking the catastrophic events of the late 1980s which plunged the country into a spiral of a decade of violence, said a new study entitled, The Impact of Low Oil Prices on Algeria, published by the Center on Global Energy Policy. The […]
Jane Kinninmont, the deputy head of the Middle East and North Africa program at the Chatham House think tank said that the UK should build on the Brexit in order to boost ties with the MENA region especially, Morocco and Tunisia. “The UK’s departure from the EU posed potential economic opportunities for countries such as […]
Moroccan bank BMCE Bank of Africa and its leasing subsidiary Maghrebail received a €35 million loan granted by the European Bank for Reconstruction and Development (EBRD), Agence Française de Développement (AFD) and the European Investment Bank (EIB). The three financial institutions are teaming up to strengthen sustainable energy measures in Morocco, with the support of […]
Moroccan city of Casablanca is hosting this October 12 an international conference to look into ways of creating “Green Banking Markets in Africa”, ahead of the 22nd UN conference on climate change due in Marrakech Nov.7-18. The Casablanca green finance event is organized by the European Bank for Reconstruction and Development (EBRD) and Banque Marocaine […]
Morocco’s Attijariwafa bank Group has officially taken over British Barclay’s Egypt branch, reports say. Attijariwafa bank Group, Morocco’s leading bank group, won the transaction after beating several global bank groups, among which Emirati NBD headquartered in Dubai. The transaction estimated at $400 million will enable the Moroccan financial institution to expand its already wide network […]
Morocco has been ranked Africa’s fifth best performer in the Global Competitiveness Report issued by the Geneva-based World Economic Forum (WEF.) At the continental level, Morocco was advanced by Mauritius, South Africa, Rwanda and Botswana in the Index that examines the determinants of long-term growth in a total of 138 countries. Globally, Morocco gained two […]
Morocco’s external debt reached 312.9 billion dirhams by June 2016 up from 301 billion dirhams by the end of 2015, Economy and Finance Ministry said in its latest statistics. Public institutions took 52.9% of Morocco’s total external debt, followed by the treasury with 46.8%, while banks and local collectivities accounted for the remaining 0.3% of […]
Morocco’s foreign exchange reserves rose to cover 7 months and 14 days of imports by August up from 6 months and 11 days the same period last year, the Central bank, Bank Al Maghreb said. By the first week of September, Morocco’s foreign exchange reserves stood at 248.9 billion dirhams, that is a 17.7% increase […]
Algeria’s trade deficit slipped into 14 billion dollars in the first 8 months of 2016 because of the fall in oil revenues, propelling the government to draft an austere appropriation bill for 2017 with the introduction of new taxes in a bid to minimize losses. Algeria’s trade deficit worsened despite an 11% decline in imports […]
The 2016 Economic Freedom of the World Report issued by the Canadian Fraser Institute pointed out to the plummeting economic freedom in Algeria, which ranked 151st among 159 surveyed countries. The report measures economic freedom including levels of personal choice, ability to enter markets, security of privately owned property and rule of law. It analyses […]