First Independent Mena Newspaper
Moroccan banks continue to show resilience despite challenging global and domestic macro-economic conditions, Fitch Ratings says in a new report focusing on the country’s seven largest banks. Banks have built up healthy provisions buffers since 2020 and are well-placed for a continued recovery in profitability in 2024 amid rising interest rates, says the rating agency. […]
The World Bank has approved a new $ 500 million loan for Morocco which is stepping efforts to improve social protection and expand health coverage to include the most vulnerable populations who have been hit the hardest by Covide-19, drought, international conflicts, inflation, Al Haouz earthquake. “Morocco, like many other countries, continues to face a […]
Morocco is drafting a bill to regulate crypto assets in line with the recommendations made during the last G20 Summit, Governor of the central bank “Bank Al-Maghrib”, Abdellatif Jouahri, said Tuesday in Rabat. “The main objective of this legislation is to align Moroccan regulations with international standards concerning crypto assets according to a rigorous approach, […]
The special fund launched to finance reconstruction efforts in quake-hit areas is about to hit the $2 billion milestone or 20 billion dirhams, central bank governor said. The earthquake that hit on September 8 claimed 3000 lives and shattered many villages in the western High Atlas. Up to Dec 15, the fund had 19 billion […]
Morocco’s central bank kept its key rate unchanged at 3% in a context of easing inflation and improved growth rate. Inflation is seen dropping to 6.1% this year and 2.4% next year. In 2022, drought and imported inflation propelled inflation to 6.6%. Morocco’s central bank has decided to keep its key interest rate unchanged at […]
The Saudi Fund for Development, SFD, provided Monday December 18 Mauritania with a soft credit line of $40 million earmarked for the construction and equipment of two educational institutes that are specialized in key sectors of the economy. The deal was signed by SFD CEO Sultan Al-Marshad and Mauritania’s Minister of Economy and Sustainable Development, […]
Developing countries are on a “path to debt crisis” and another “lost decade”, World Bank warns in its latest annual publication, unless African and other debtor governments, private and official creditors and multilateral financial institutions agree on a quick and coordinated action to secure more support from the creditors. The 50th edition of the ‘International […]
The Board of Directors of the African Development Fund, the African Development Bank Group’s concessional window, approved a €38.84 million loan to Benin to help implement the initial phase of the Economic Governance and Private Sector Development Support Program, Abidjan-based lender said in a statement. The program designed to assist the Beninese government in its […]
The Board of Directors of the African Development Bank Group, has approved a loan of €81.9 million to Tunisia to implement the Treated Wastewater Quality Improvement Project for Climate Resilience Building (PAQEE-RCC). The approval, the bank said on December 13, came at a meeting in Abidjan on 6 December. PAQEE-RCC will improve the treatment of […]
The World Bank has resumed cooperation with Gabon several months after freezing all financing projects in the central African country in a reaction to the military coup of August 30 following an electoral process deemed rigged by the military. The Washington-based lender, local media ‘Gabon Review’ reports, notified the ministry of Finance and Economy in […]