First Independent Mena Newspaper
The IMF highlighted on Jan 24 the “very strong policy response” that Morocco took to mitigate the social and economic impact of the recent negative shocks fueled by the repercussions of the war in Ukraine. At the end of its Article IV consultations, the IMF said Morocco’s economy will bounce back to 4% in 2023 […]
The African Fertilizer Financing Mechanism (AFFM) has received a $10.15 million financing from the Norwegian Agency for Development Cooperation (NORAD) destined to support agricultural projects for small scale farmers in Kenya, Mozambique and Uganda. NORAD’s contribution will enable the AFFM to provide credit guarantees for up to 36 months in the three countries, with the […]
Soon after announcing the retrieval of 20 billion dollars, President Tebboune drew mockery when he said that another 36 billion dollar amount was confiscated from a family that concealed it somewhere in vast Algeria. That brings the total sum of allegedly seized money to $56 billion, a sum that is about 35% of Algeria’s GDP […]
Morocco’s spending to support the purchasing power of its citizens at a context of imported inflation rose to 40 billion dirhams ($4 bln), finance minister Nadia Fettah Alaoui said. Cooking gas subsidies alone accounted for more than 50% of the subsidies budget at 22 billion dirhams due to an increase in prices in the international […]
Egypt will put Financial Year 2023-2024 budget draft to a community dialogue expected to be convened within the next few weeks in view of enhancing community participation in determining public spending priorities, Finance Minister Mohamed Maait announced Monday. “A community dialogue on the new budget will be launched in the next few weeks, in order […]
The African Development Bank predicts the continent’s growth will be stronger-than-expected at 4% this year. Its cautiously optimistic economic outlook is partly based on the expectation that China will continue to re-open after three years of strict Covid-19 policies “Despite the confluence of multiple shocks, growth across all five African regions was positive in 2022- […]
Egypt signed Sunday a $1.5 billion Annual Work Program with the International Islamic Trade Finance Corporation (ITFC), an autonomous entity within the Islamic Development Bank (IsDB) Group, to provide integrated financing solutions to the Arab country. Under the agreement, ITFC will deliver Egypt $1.5 billion integrated financing solutions, meant to enhance the country’s capacity to […]
Morocco would issue a dollar-denominated bond in 2023, the first since 2020, the central bank said. Morocco has yet to recover its investment grade although its most recent foreign debt issue was successful. Domestically, central bank official Youness Issami said the central bank has proceeded to purchases of treasury bonds for the first time The […]
The United Nations on Thursday launched an appeal for funds to come to the aid “before it is too late” of 30 million children suffering from acute malnutrition in countries affected by the food crisis. “More than 30 million children in the 15 most seriously affected countries suffer from wasting – or acute malnutrition – […]
Morocco is entering, thanks to the leadership of King Mohammed VI, a new phase of its development characterized by the building of a Social State, the Head of Government, Aziz Akhannouch, said on Wednesday in Davos. In one year, the government has fulfilled the royal agenda by putting in place the regulatory framework for compulsory […]