First Independent Mena Newspaper
The looming debt crisis in Africa can only be resolved with a more stable and liquidity market in African government bonds, argue Daniel Cohen, the chair of Finance for Development Lab (FDL), and Ibrahim Elbadawi, the managing director of the Economic Research Forum, in a recent policy brief. As they struggle to secure investment to […]
Morocco’s central bank has hiked its key rates by 50 basis points to 2% to tame a soaring inflation, but this measure alone is not enough to tackle inflation according to central bank governor Abdellatif Jouahri. “The job of the central bank is monetary policy but growth is the job of the government,” he told […]
The European Bank for Reconstruction and Development (EBRD) expects Moroccan economic growth to decelerate to 1.1 per cent in 2022, before rebounding the following year thanks to the anticipated agricultural performance and return of other sectors to pre-pandemic levels. In its Regional Economic Prospects report released this Wednesday, the Bank says economic recovery in Morocco […]
Congo and Russia have signed five memorandum of Understanding (MoU) including the construction of an oil-pipeline in the capital Brazzaville. The agreements were inked at the end of both countries’ joint intergovernmental commission meeting in the Congolese capital. Deals span Information and communication technologies, health, research, technological innovation, culture and sports. Congo’s Minister of International […]
Madagascar’s State Inspectorate-General (IGE) Tuesday denounced the embezzlement of around 12.4 million euros (MAG51 billion) of state funds in the public Administration over a period of eight months. Daniel Randrianarivony, the Chief of the IGE made the announcement during the presentation of his organization’s report that audited the public administration from January to August this […]
The European Union wants to strengthen its “unique and reliable” partnership with Morocco at all levels, said the President of the European Commission, Ursula von der Leyen. “We want to strengthen the unique and reliable EU-Morocco partnership across the board: Enhanced trade and more cooperation on digital and energy, for example,” Ms. Von der Leyen […]
Bank Al-Maghrib, Morocco’s central bank, decided Tuesday to increase its key interest rate by 50 basis points to 2 percent and to continue to monitor closely the economic developments, both nationally and internationally, and in particular, the evolution of inflationary pressures. The decision was made by the Bank’s Board after having analyzed the international economic […]
Skeptics say that despite China’s agreement to forgive interest-free loans to 17 African countries as it seeks to dispel debt-trap allegations, the days of Beijing writing off interest-bearing loans are over. The world’s poorest countries — many of them in Africa — are facing $35bn in debt-service payments in 2022, out of which around 40% […]
Banque Nationale d’Investissement (BNI), also known as National Bank of Investment, vowed to support exporters of coffee and cocoa of Côte d’Ivoire with around $274 million for a new season starting in few days, Abidjan Net reports. Jerôme Ahua, Deputy Director of the bank, made the announcement during a networking event of coffee and cocoa […]
Moroccan state-owned Phosphate giant, OCP Group, announced on Monday it acquired 50% stake of GlobalFeed S.L. from Fertinagro Biotech S.L., a major Spanish fertilizers producer. “This acquisition confirms OCP’s objective to diversify its phosphate solutions and become a leading player in the animal nutrition sector, addressing growing demand and expanding its offerings to specialty sustainable […]