First Independent Mena Newspaper
Egypt is preparing to list stakes in several military-affiliated companies on the stock exchange, in a major step towards reducing state control and encouraging private sector participation in the economy. Prime Minister Mostafa Madbouly announced the move following the signing of an agreement between the Sovereign Fund of Egypt, the Armed Forces’ National Service Projects […]
Fifty-five members of Libya’s House of Representatives (HoR) strongly criticized the recent devaluation of the dinar, arguing that the move fails to address the root causes of the country’s deepening economic crisis. The lawmakers stressed, in a joint statement issued on Wednesday, that adjusting the exchange rate or increasing the dollar price would not resolve […]
The already fragile economic and financial conditions in Algeria are expected to worsen as oil, the country’s main export, drops below $60 per barrel. Oil markets plunged following Trumps tariffs that triggered fears of a global slowdown and reduced demand for oil and gas, whose prices have also declined. Oil and gas represent the bulk […]
The Central Bank of Libya (CBL) has announced a significant 13.3% devaluation of the Libyan dinar, adjusting the exchange rate to 5.5677 dinars per US dollar, effective from April 6, 2025. This decision marks a shift from the previous rate of 0.1555 to 0.1349 Special Drawing Rights (SDRs) per dinar. The move comes as part […]
The IMF has approved a flexible credit line worth $4.5 billion to help Morocco cushion against external shocks. The two-year arrangement will be treated by Moroccan authorities as precautionary, the IMF said in a statement. “The Moroccan economy has shown a sustained track record of implementing very strong policies and remarkable resilience to recent shocks, […]
US president Donald Trump has unveiled a controversial new tariff policy, imposing sweeping duties on imports from over 180 countries, including 51 African nations. The tariffs, which include a baseline 10% on all imports and higher duties on certain countries, are part of Trump’s strategy to combat what he describes as unfair trade practices that […]
The Libyan National Oil Corporation (NOC) is facing growing pressure to settle its refined oil products import bills as the country’s long-standing barter system comes to an end. While fuel imports continued into Libya in March, the NOC remains unable to pay for these supplies, a situation compounded by the country’s declining oil revenues. The […]
Burkina Faso, Mali, and Niger have introduced a 0.5% tariff on goods imported from third countries, a move aimed at financing their activities within the Alliance of Sahel States (AES). This new tax, named the “AES confederal levy,” will apply to products entering the three countries but will exclude goods from other AES members, as […]
The World Bank approved the “DREAM” project, a major initiative aimed at supporting the development of energy resources and the mineral sector in Mauritania. With a funding of $82.5 million, the project is set to enhance the country’s energy infrastructure by developing electricity storage systems, advancing battery technology, and fostering the growth of green hydrogen. […]
Morocco has sold 2 billion euros in a dual-tranche bond split into four and ten years, as demand exceeded the offer, Bloomberg and Global Capital reported. Morocco gathered some 7 billion dollars in orders for the bond sale, highlighting the attractivity of the country for global investors. The bond would boost the government’s finances as […]