First Independent Mena Newspaper
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 […]
Morocco has launched a reconstruction plan in flood hit areas worth 2.5 billion dirhams ($260 million), the government said. The plan will be funded by the Moroccan fund for addressing natural disasters, the head of the government office said. The funds include financial aid to help rebuild 1,121 houses, including 269 homes that have been […]
Morocco topped the list of African countries where workers earn the highest salaries, according to a survey by Nigerian media the Vanguard. Morocco came first on the list “with an average salary of $2,031 due to its diversified economy, strong sectors like tourism, textiles, and mining, and strategic investments in infrastructure,” the media said. The […]
The newly appointed Governor of the Central Bank of Libya (CBL), Naji Belgassim, and his Deputy, Marie Al-Barasi, were officially sworn in during a House of Representatives (HoR) session in Benghazi on October 1. During the session, HoR First Deputy Speaker Fawzi Al-Nuwairi stressed the need to keep the CBL free from political interference and […]
Moody’s Ratings has affirmed Morocco’s stable credit outlook at Ba1, saying the rating reflects Morocco’s institutional strengths and robust external position. “The stable outlook reflects our expectation that the government will pursue economic and social reforms to improve the economy’s resilience to shocks while keeping the debt burden stable,” Moody’s said. “We expect the government […]
The African Development Bank Group approved a €70-million financing facility for Bank of Africa Maroc (BOA) to promote access to financing African trade. The package comprises a €50 million Risk Participation Agreement (RPA) and a €20 million Trade Finance Line of Credit (TFLOC), the AfDB said in a press release. “The African Development Bank, rated […]
Egypt’s total public debt fell by 2.1 percent in the final quarter of the 2023/2024 fiscal year, according to the Ministry of Finance. By the end of June, the debt had decreased to LE 12.52 trillion from LE 12.78 trillion recorded in March 2024. This reduction was primarily driven by a 2.7 percent decline in […]