First Independent Mena Newspaper
Morocco’s central bank is expected to take more monetary easing steps in the second half of this year by cutting the benchmark rate to 2.25% from 2.75% currently, Fitch Solutions said. “We forecast that BAM will cut its policy rate in another two steps of 25bps in September and December 2024, to 2.25% by end-year […]
King Mohammed VI, accompanied by Crown Prince Moulay El Hassan and Prince Moulay Rachid, received, on Monday at the Royal Palace in Tetouan, Abdellatif Jouahri, Governor of the Central Bank (Bank Al-Maghrib), who presented to the Sovereign the Bank’s annual report on the economic, monetary, and financial situation for the 2023 financial year. In his […]
The Board of Directors of the African Development Bank (AfDB) Group has approved a €120 million financing to support Morocco’s Governance and Climate Change Resilience Support Program (GCRRP) – Phase 1. The main objective of this program is to implement reforms guaranteed to boost Moroccan economy and consolidate its resilience to exogenous factors including climate […]
Morocco forecasts economic growth to rise to 4.6% in 2025, based on current assumptions, Economy and Finance Minister, Nadia Fettah, said in Rabat on Thursday. The official, who was presenting the 2024 Budget execution, the 2025 finance bill framework and the three-year budget plan for 2025-2027 at a joint meeting of the finance committees of […]
Moroccan Head of Government Aziz Akhannouch attended, on Thursday, the summit for Sport and Sustainable Development in Paris. This event is being held on the sidelines of the Olympic Games to officially kick off on Friday evening. The summit brought together some 500 participants, including heads of state and government, leaders of international organizations, athletes, […]
A new credit rating agency designed to address the needs of sovereign borrowers in Africa, and led by an African Union (AU) Commissioner, is on track to be launched in 2025, according to a senior AU official. Speaking with reporters in Accra, the AU Commissioner for Economic Development, Trade, Tourism, Industry and Minerals, Albert Muchanga, […]
Nigerian authorities fined Meta, the mother company of Facebook, whatsApp and Instagram, 220 million dollars for breaching consumer and data protection laws as well as abusing its position as market leader. The fine was announced following a 34-month investigation by Nigeria’s Federal Competition and Consumer Protection Commission (FCCPC). Meta is also accused of sharing Nigerians’ […]
As finance ministers and central bank governors of the G20 convene in Brazil this week (25-26 July), high on the agenda will be the International Monetary Fund’s (IMF) strategy to tackle Africa’s debt challenges, particularly the critical need for sustainable debt management and economic reforms. The IMF heads to Brazil G20 on a mission to […]
Growth in the Middle East and North Africa region (MENA) is projected to increase from 1.8% in 2023 to 2,2% in 2024 and 4% in 2025, the International Monetary Fund (IMF) said Tuesday. This is a downward revision from the April projections, the IMF pointed out in its World Economic Outlook (WEO) report. In April, […]
The Moroccan government said it offered construction aid to 95% of the households whose homes were completely or partly destroyed in the violent earthquake that ravaged villages in the High Atlas Mountains in September 2023. So far, 56,000 families received financial aid to rebuild their houses for a total cost of 1.4 billion dirhams ($140 […]