First Independent Mena Newspaper
US Secretary of State Antony Blinken urged Tunisia to speed up efforts in order to reach a deal with the International Monetary Fund that would spare it economic collapse. “The most critical thing they can do on the economic side is actually get an IMF agreement,” Blinken said at a senate hearing in a statement […]
Morocco resumed the exports of tomatoes capped at 1000 tons daily, professionals said, after a ban that lasted weeks. Morocco had banned exports of tomatoes to African markets and reduced shipments to Europe after prices surged to unprecedented levels. The government spokesman Mustapha Baitas had said that the measures were aimed at reducing prices in […]
Rapidly rising fertilizer prices are forcing farmers to reduce output and the world’s poorest continent is expected to be hardest hit, with Angola, Malawi and Zimbabwe most at risk in the Southern African region, according to Food and Agriculture Organisation (FAO). Sanctions on entities within major fertilizer exporter Russia after the invasion of Ukraine and […]
Africa should aim at creating a joint bank with Russia to facilitate financial transactions between both sides and promote trade, according to one of Burkina Faso’s leading political figures. “I think that when it comes to strengthening cooperation with Russia in key areas of the economy, it is very important that we explore the possibility […]
The extension of the UN-brokered Black Sea Grain Initiative and, in turn, the newly-arrived wheat imports from Ukraine could help ease hunger in drought-stricken areas in Africa and bring down high food prices, according to Kenyan economists. Earlier in the week, 30,000 tons of wheat arrived in Kenya under the Black Sea Grain Initiative, in […]
Morocco, under the leadership of King Mohammed VI, has been able to meet its water needs thanks to 152 large dams with a storage capacity of over 19 billion m3 and 136 other small dams, providing water for irrigation and strengthening the country’s water supplies. These figures have been unveiled at the United Nations in […]
Morocco’s central bank and the Moroccan government are pursuing policies that are triggering opposite impacts on inflation. As the central bank tightens its monetary policy by raising the key interest rate for the third time in a row to 3%, the government continues its expansive budgetary policy in line with its goals to spur private […]
Burkina Faso has acquired military equipment including drones and armored vehicles worth around $415 million to beef up the army’s capacity in the fight against terrorism, reports say. The acquisition took place this month after the government greenlighted on March 1st the ratification of a sovereign guarantee in favor of International Business Bank Burkina (IB […]
Shen Ching, a Chinese company producing cast-iron pipes and steel industry, has announced plans to invest $2 billion in Egypt’s Suez Canal Economic Zone. Head of the Chinese firm, He Kijo, made the announcement during a meeting with Prime Minister Mustafa Madbouli in Egypt. The project is set to be built on an area of […]
The World Bank has approved a new $7 billion partnership agreement with Egypt for 2023-2027 with a focus on boosting private sector jobs, provision of better health and education services, and adaptation to climate change. The bank in a statement said the Country Partnership Agreement (CPF) will entail $1 billion per year from the International […]