First Independent Mena Newspaper
The Morocco-Nigeria gas pipeline project is gaining momentum as the United Arab Emirates has agreed to contribute to the funding of this $25 billion project to ship Nigerian gas to Europe through Morocco. The announcement was made lately by Morocco’s Minister of Energy Transition Leila Benali in a statement at the Moroccan Parliament. She told […]
Algeria will have to further tighten the belt as barrel prices drop to below $60, boding ill for its export, fiscal deficit, and social peace. Algeria has based its 2025 budget on a barrel price of $70, with over 90% of the country’s economy dependent on oil, gas and byproduct exports. International risk consultancies are […]
Morocco’s tourism continues its impressive performance with 2.4% increase in receipts by the end of March 2025, compared to the same period in 2024, with nearly 24.63 billion dirhams (approximately $2.5 billion), the foreign exchange office said. Tourism has emerged as Morocco’s leading revenue source, surpassing key sectors including automotive, chemicals, food, information technology, and […]
The Moroccan government is seeking parliament approval to inject an additional 13 billion dirhams, or 1.4 billion dollars, in the 2025 budget to support key state institutions, including water and electricity utility ONEE. Speaking to members of parliament, minister in charge of the budget Fouzi Lekjaa said the additional funds were needed to help ONEE […]
Nigeria’s finance minister Wale Edun said the United States is interested in investing in the Atlantic pipeline that will link Nigeria to Morocco, helping 13 West African countries meet their energy needs. Edun made the statement to Nigerian media following talks with Opayemi Cardoso, Nigeria’s central bank governor, and “the director of international economic relations, […]
The Managing Director of the International Monetary Fund (IMF), Kristalina Georgieva, highlighted Morocco’s exceptional economic management, noting that it is the only country in the MENA region eligible for the IMF’s Flexible Credit Line (FCL). At the IMF’s Spring Meetings, Georgieva commended Morocco for its robust fiscal and monetary policies, stating, “Morocco has done really […]
Allegations concerning the unauthorized appearance of local currency within the black market in Tripoli have been observed by the Central Bank of Libya’s media office. Circulating images, reportedly showing currency boxes within the Souq Al-Mushir area, have sparked widespread concern regarding possible breaches in the official distribution process. Assurances were issued by the Central Bank […]
A new phase in Libya’s financial oversight has been initiated through the appointment of the American advisory firm K2 Integrity, which has been tasked with monitoring the financial transactions of the Central Bank of Libya’s (CBL). The decision, reportedly made under pressure from Washington, aims to enhance transparency and curtail systemic corruption within Libya’s financial […]
Morocco’s consumer price index (CPI) decreased by 0.3% in March 2025, according to the latest data from the High Commission for Planning (HCP), as reported by L’Économiste. This decline comes as the country experiences significant economic recovery, with GDP growth estimated at 4.2% for the first quarter, driven by dynamic performance in commercial services, extractive […]
Kenya is set to become East Africa’s largest economy by 2025, overtaking Ethiopia, according to new projections from the International Monetary Fund (IMF). The IMF forecasts Kenya’s GDP will reach $132 billion, surpassing Ethiopia’s projected $117 billion. This shift is driven by divergent economic strategies. Ethiopia’s decision to devalue its currency, the birr, by over […]