First Independent Mena Newspaper
Libya is enacting extraordinary measures to tackle its persistent liquidity crisis. On December 5, 2024, the Central Bank of Libya announced a partnership with the British company ‘De La Rue’ to print 30 billion dinars (approximately $6.25 billion) in new currency. This decision follows years of acute financial difficulties, compounded by political instability since the […]
The World Bank has approved $70 million loan for Morocco to enable country continue implementing ambitious social protection reforms seeking to facilitate access to social services in particular for vulnerable households. Building on the achievements of the first project, which saw a successful design and implementation of the National Population Registry, Unified Social Registry, and […]
Attijariwafa Bank has conducted an early buyback of $290 million of Gabon’s external debt, in a transaction that will ease the debt burden in the country and foster its financial stability. The operation represents 50% of Gabon’s Eurobond. It was made by l’Union Gabonaise de Banque (UGB), the local subsidiary of Attijariwafa Bank. The operation […]
Libya’s National Oil Corporation (NOC) announced this December that it has transferred over $14.8 billion in oil revenues to the Central Bank of Libya since the beginning of 2024. This substantial amount was sent through 23 separate transactions, highlighting the vital role of oil in sustaining Libya’s economy. According to the NOC’s statement, the precise […]
As many as 18 million Ghanaians are expected to cast their vote on 7 December to elect the country’s new president with concerns about inflation, unemployment and debt high on their priority list. Despite a tight race for the presidency, which will be contested between vice president Mahamudu Bawumia and former president John Mahama, analysts […]
Morocco’s OCP group plans to issue an ordinary bond to raise 5 billion dirhams or 500 million dollars as it seeks funding for its ambitious green energy and desalination projects, financial markets regulator AMMC said. OCP, a market mover in phosphates and fertilizers production, plans to go green by 2040 as it forges ahead to […]
On December 3, the Central Bank of Egypt (CBE) announced that Kuwait has agreed to extend a $2 billion deposit for an additional year. Originally set to mature in April 2024, the deposit will now mature in April 2025, according to the CBE’s latest external position report. This decision provides Egypt with crucial financial breathing […]
Egypt’s external debt reached a record $168.1 billion in 2023, a 2.9% rise from the previous year and the highest level since 2012, according to the World Bank’s International Debt Report (IDR) released on December 3. However, the Central Bank of Egypt (CBE) reported a 5% quarterly decline, with external debt falling to $152.88 billion […]
Africa needs further access to sustainable finance to achieve development goals and bolster growth, Moroccan finance minister Nadia Fattah said. “The long-awaited growth of our continent depends heavily on the ability of our countries to access the financing needed to achieve the goals of the 2030 Agenda for Sustainable Development and the African Union’s Agenda […]
Egypt’s House of Representatives approved on Monday, December 2, a Memorandum of understanding (MOU) with the European Union, securing a €1 billion financial support mechanism aimed at stabilizing the Egyptian economy and bolstering the national budget, according to the Ministry of Planning, Economic Development, and International Cooperation. This funding is part of a broader €7.4 […]