First Independent Mena Newspaper
The World Bank revised downwards economic growth in Sub-Saharan Africa to 3% instead of 3.4%, citing the impact of the war in Sudan. The forecast is still higher than the 2.4% registered last year, thanks to increased private consumption and investment, the Bank said in a recent report. The report forecasts growth of 3.9% for […]
The European Investment Bank has pledged to lend Morocco €1 billion over the next three years to support the country’s efforts to rebuild the public infrastructures affected by the powerful & deadly earthquake that hit Al Haouz region on Sept.08, 2023. The first tranche of the loan (€ 500 million) was signed lately in Rabat […]
The European Investment Bank (EIB) is seeking to deepen its involvement in financing key development initiatives in Morocco, aligned with the country’s economic and social priorities. The remarks were made by EIB Vice-President Ioannis Tsakiris on Thursday in Rabat during talks with Minister of Economy and Finance Nadia Fettah. The EIB official reiterated the Bank’s […]
Fitch agency has maintained Morocco ‘BB+’ rating with a stable outlook thanks to the country’s sound macroeconomic policies, strong official creditor support, favorable debt profile and comfortable liquidity buffers. In 2023, Morocco’s economy grew by 3.4%, driven by strong non-agricultural sector performance and a rebound in agricultural output following a sharp contraction in 2022, said […]
According to the Central Agency for Public Mobilization and Statistics (CAPMAS), Egypt’s general consumer price index reached 236.5 points in September 2024, reflecting a monthly increase of 2.3 percent compared to August 2024. This uptick was driven by price hikes in several essential sectors. Notably, the cereals and bread category saw a 0.7 percent increase, […]
The Financial Regulatory Authority (FRA) reported a notable increase in non-banking financing across various sectors in July 2024. According to the latest figures, the number of consumers benefiting from consumer finance rose to 2.127 million in July 2024, up from 1.986 million in July 2023. The total volume of outstanding loans for micro, small, and […]
Ghana and the IMF reached a staff level agreement for a loan worth $3 billion, an inroad in the West African country’s efforts to improve its public finances. Ghana is on a debt-restructuring program after it defaulted on most of its $30 billion international debt in 2022. “Performance under the IMF-supported program has been generally […]
Ghana’s Central Bank launched a new gold coin to boost domestic savings, manage liquidity, and strengthen the Cedi currency. The coin, made from gold mined in Africa’s biggest producer of the metal, has been refined to 99.99% purity, Governor of the Bank of Ghana Ernest Addison told reporters. The coin comes in three sizes of […]
The US Agency for International Development aid (USAID) and the African Development Bank (AFDB) signed a $600 million deal to promote social and economic development projects in the Sahel. The co-financing agreement will be used to support good governance, resilient agriculture, private sector development, water security, sanitation, and health systems. The agreement “reflects a joint […]
Morocco extended by five months financial assistance offered to quake-hit households, after the expiry of the first 12-month phase in October, the head of the government’s office said in a statement. Morocco has offered 2500 dirhams ($250) to families who have been hit by the quake of September 8, 2023, that hit the Atlas mountains […]