First Independent Mena Newspaper
The leaders of the Economic Community of West African States (ECOWAS) have pledged to renew efforts to launch the region’s single currency, the ECO, with the revised date set for 2027. This decision was reaffirmed during the recent 66th Ordinary Session of the ECOWAS Authority of Heads of State and Government in Abuja, where leaders […]
The German Agency for International Cooperation (GIZ), through KfW, will grant Morocco’s National Office of Electricity and Drinking Water (ONEE) a €50 million loan destined to finance a climate-resilient drinking water supply program. The program is aimed at securing and reinforcing drinking water supply in several towns, including Ghafsai, El Hajeb, Ain Legdah, Bouderbala, Souk […]
Morocco’s Central Bank has decided to reduce key rate by 25 basis points to 2.50 percent as inflation continues to evolve at low levels and is expected to end the year with an average of 1% compared to 6.1% in 2023. The decision was made by the Board of the Bank during its latest quarterly […]
Mauritania’s public debt stood at 177.8 billion new ouguiyas (approximately $4.4 billion) as of mid-2024, according to the latest report from the Public Debt Directorate. This amount represents 40.3% of the country’s Gross Domestic Product (GDP) as of June 30, 2024, underscoring the scale of Mauritania’s fiscal obligations relative to its economic output. The report […]
The Egyptian House of Representatives officially approved on Dec.15 a key financing agreement between the Egyptian Government and the Abu Dhabi Exports Office (ADEX). This agreement aims to support Egypt’s wheat imports through the General Authority for Supply Commodities (GASC), ensuring a reliable supply of wheat for the country. The framework outlined in the agreement […]
The European Bank for Reconstruction and Development (EBRD) will contribute €65 million to fund projects aimed at expanding the capacity and optimizing the operations of the multipurpose terminals of the ports of Casablanca and Jorf Lasfar. The financing agreement was signed by EBRD President Odile Renaud-Basso and Managing director of Morocco’s port management company, Marsa […]
Finance minister Nadia Fattah Alaoui said the introduction of cryptocurrencies in Morocco would help promote financial inclusion provided they are governed by a sound legal framework. The Moroccan central bank said a draft law was undergoing the process of adoption ending a ban that has been in place since 2017. The central bank was also […]
The International Monetary Fund has urged Libyan authorities to prioritize spending through an approved and unified 2025 budget to prevent pro-cyclical expenditure and enhance resource management. The IMF announced on December 10 that Libya’s recovery in oil production has led to an upward revision of the country’s GDP growth forecast for 2025. In its report […]
The African Development Bank (AfDB) has extended Morocco a €104.7 million loan to boost the water sector in the Kingdom. The funding is destined to speed up the digitalization processes of the National Office for Electricity and Drinkable Water (ONEE), boost drinking water production in several urban areas (Asfalou, Bouhouda and Agourai), and improve the […]
Morocco’s GDP grew 10% to 146 billion dollars in 2023, the high commission for planning, HCP, said in its final statistics. Financial and non-financial firms contributed by 45% to the national GDP, while public administrations contributed by 15.2%, HCP said in a recent report. Households and non-lucrative entities contributed by 29%, it said, adding that […]