First Independent Mena Newspaper
The Executive Board of the International Monetary Fund (IMF) has announced a preliminary agreement to provide financial support to Tanzania and Mauritania, totaling approximately $428.15 million, to help both countries pursue crucial economic reforms. For Mauritania, the IMF will disburse around $39.7 million through the Resilience and Sustainability Facility (RSF), alongside an additional $8.6 million […]
The Central Bank of Libya (CBL) has unveiled a significant initiative aimed at bolstering the country’s banking sector by allocating 15 billion dinars (over 3 billion USD) to all operational banks in the coming months. This distribution is set to be implemented across all bank branches throughout Libya. This announcement followed a crucial meeting held […]
The Moroccan government has elaborated a 2025 budget that bolsters spending on social protection as well as on the health and education reform, finance minister Nadia Fettah Alaoui said. The government will press ahead with the generalization of mandatory health coverage, financial assistance to needy families, and will launch the generalization of the pension system, […]
Tunisian lawmakers are preparing a law that would remove the exclusivity of the central bank in setting the benchmark interest rate, thus ending the bank’s monetary policy independence. The bill suggests that the central bank should set the interest rate after the approval of the government. President Kais Saied has often taken aim at the […]
The World Bank has revised Tunisia’s 2024 economic growth forecast downward to 1.2%, compared to the 2.4% projected in April 2024. In its October 16, 2024 report, “Growth in the Middle East and North Africa,” the Bank expects Tunisia’s growth to stabilize at 2.2% in 2025. The report cites weak growth across the MENA region, […]
A Ministers’ Council, convened Friday in Rabat under the chairmanship of King Mohammed VI, debated and adopted the 2025 appropriation bill which seeks to boost social cohesion, enhance economic sovereignty, and to achieve a strong economic recovery, with a growth rate of 4.6% in 2025, and a limited inflation rate at 2%. At the start […]
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 […]