First Independent Mena Newspaper
Cash-strapped Tunisia reported a 3% decrease in its foreign exchange reserves to 22.9 dinars ($ 7.5 bln), enough to cover 99 days of imports, as the country struggles to access foreign debt amid a biting social and economic crisis. The decline follows the government’s $1 billion Eurobond repayment in February, reducing import coverage. The government […]
The French Development Agency (AFD) group is planning significant investments worth around €150 million in Morocco’s southern provinces, announced the Agency’s CEO, Rémy Rioux. Rioux, who is on a working visit to Morocco at the head of a high-level delegation, said at a press briefing, in Laayoune on Saturday, that “the AFD Group will now […]
Following years of unending diplomatic crises and worsening economic conditions at home, Algeria’s currency has fallen to unprecedented levels against the Euro in the country’s black market, the genuine metric for the country’s financial health. Demand on foreign currencies as an investment option surged due to uncertainties caused by the regime’s policies both at home […]
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 […]