First Independent Mena Newspaper
Many micro and small businesses, as well as ordinary citizens, had been eagerly awaiting this announcement, which came on Monday December 2, from MP Yassine Mami. The elected official confirmed the approval of a bill establishing a tax and customs amnesty for 2025. The Assembly of People’s Representatives (ARP) passed a series of provisions granting […]
In the first ten months this year, tourism revenue and remittances from Moroccans abroad steadily increased on the way to break last year’s record. Tourism revenue grew to $9.7 billion, while remittances from Moroccans living abroad reached nearly $1 billion, auguring well for the country’s foreign exchange reserves, currently covering 5.5 months of import needs. […]
Morocco’s central bank has prepared a draft law that would set up a secondary market in which non-performing loans, currently at 9.8 billion dollars, can be sold, in a move that will boost banks’ liquidity. The news was announced by director general of the central bank, Bank Al Maghrib, Abderrahim Bouazza, who said non-performing loans […]
In response to ongoing concerns about inflationary pressures, the Board of Directors of the Central Bank of Tunisia (BCT) convened on November 28, 2024, to evaluate the country’s economic outlook. After careful deliberation, the Board concluded that it was essential to maintain a cautious and prudent approach to monetary policy. As a result, they decided […]
Morocco and France signed on Wednesday in Rabat two agreements worth €150 million. The funds are destined to support the Generalization of Compulsory Medical Coverage Program, and the Government Equality Plan 2023-2026. The first agreement, worth €100 million, is part of ongoing support of the French Development Agency (AFD) for the Royal project to globalize […]
Morocco’s central bank has prepared a draft law allowing the use of crypto assets in the country, Central Bank governor Abdellatif Jouahri said. The central bank “with the participation of all stakeholders and the support of the World Bank, has prepared a draft law regulating crypto assets, which is currently in the adoption process,” Jouahri […]
The World Bank has approved a $250 million loan to help Morocco improve solid waste management which is facing environmental and financial challenges. Moroccan cities are home to more than 60 percent of the population and are key engines of growth for the country. Municipal solid waste management has been among the Government of Morocco’s […]
The EU has pledged 190 million euros in a new financial contribution to Morocco’s post-quake reconstruction efforts. An agreement was signed in that respect by the EU’s commissioner for the neighborhood Olivér Várhelyi and minister in charge of the budget Fouzi Lekjaa. The Commissioner said the EU has injected 5 billion euros in the Moroccan […]
Egypt’s Arab African International Bank (AAIB) issued Africa’s largest private green bond worth $500 million to fund its sustainable development operations. Three renowned development financial institutions: the IFC, the EBRD, and British International Investment (BII) teamed up in this issuance, subscribing to the entire bond. The bond is also reflective of a strong commitment to […]
Zimbabwe has initiated ambitious plans to address its $12.7 billion external debt through a high-level conference bringing together creditors and finance executives. The meeting, featuring President Emmerson Mnangagwa and African Development Bank leadership, aims to chart a path toward clearing arrears and accessing international capital markets. The nation’s debt burden, representing 81 percent of GDP, […]