First Independent Mena Newspaper
Morocco is set to take advantage of its improving macroeconomic situation by tapping into the bond market, more than a year after its successful $2.5 billion bond, Nadia Fettah Alaoui said. The bond would strengthen state finances and help cut the deficit, Fettah Alaoui told Bloomberg. “We are constantly monitoring the market.” “We do not […]
Moroccan banks operate in 30 African countries where they generate 23% of their revenue, Moroccan central bank governor Abdellatif Jouahri said while speaking about investments by Moroccan firms in the continent. Speaking at an event on the Atlantic initiative, launched by King Mohammed VI to bolster regional integration, Jouahri highlighted the monarch’s win-win approach in […]
Côte d’Ivoire, the world’s top cocoa producer, has risen to the top spot as the best-rated sovereign in sub-Saharan Africa with foreign debt outstanding, overtaking South Africa, according to the latest S&P Global Ratings. While both countries maintain their BB- ratings by S&P Global Ratings, Côte d’Ivoire shifted to positive on what the ratings company […]
The economy of Guinea Bissau remains highly dependent on Cashew nuts, whose exports dropped significantly last year depriving the country of much needed revenue to diversify the economy and curb poverty, the World Bank said. “While cashew production reached 260 thousand tons, the highest production yield on record, only 170 thousand tons were exported by […]
USAID chief Samantha Power has announced the launch of a new initiative destined to help Moroccan vulnerable cooperatives and entrepreneurs in rural areas adapt to climate change, grow their economic activities, and build resilience to climate shocks and water scarcity. The announcement of the new Cooperative Resilience Program was made by Smantha at the Mohammed […]
Morocco’s spending on social assistance would amount to $9 billion, representing some 8% of the country’s GDP, minister in charge of the Budget Fouzi Lekjaa said. Lekjaa was speaking before MPs explaining the logic behind cutting cooking gas prices, which come after a series of measures aiming to boost purchasing power of poor and middle-class […]
Following targeted cash-handouts to needy households, Morocco has cut by 10 dirhams the subsidized price of a cooking gas cylinder, in a move that will alleviate the subsidies burden. The decision- that entered into force on May 20- marks the first subsidies cut in a gradual process that aims at breaking away with general subsidies. […]
Southern African countries hit by extreme El Nino weather phenomenon made an appeal for $5.5 billion to assist some 61 million affected people. The call was made by the Southern African Development Community, which brings together 16 members. Some countries in the region such as Zambia, Zimbabwe and Malawi saw their crops sapped by extreme […]
Morocco and the World Bank (WB) signed in Rabat Monday the Rapid Response Option (RRO) agreement, a significant step in enhancing the Kingdom’s capacity to swiftly address emergencies and provide crucial support to its citizens. The agreement was signed by Minister of Economy and Finance, Nadia Fettah, and WB Country Director for the Maghreb and […]
The European Bank for Reconstruction and Development (EBRD) expects Morocco’s economic growth to reach 3 per cent in 2024, before rising to 3.6 per cent in 2025, supported by a recovery in external demand and government investment. Following a slowdown in 2022, the country GDP growth picked up to 3.2 % in 2023, driven by […]