First Independent Mena Newspaper
The International Monetary Fund, the World Bank and the Kingdom of Morocco announced the postponement of the Marrakech annual meetings for a year until October 2022 The annual meetings are usually held for two consecutive years at the World Bank and IMF headquarters in Washington, and then in a member country every third year. […]
Morocco’s tourism is counting the losses due to the coronavirus pandemic with the number of tourist arrivals plummeting by 78% to 2.2 million in the first nine months of this year. Tourism receipts, key to Morocco’s foreign exchange reserves, shrank 60% to 24.3 billion dirhams, the tourism minister Nadia Fettah Alaoui told MPs. The summer […]
The Spanish government has approved, Tuesday, a €5 million loan to Morocco for the construction of two desalination plants in the cities of Zag and Moulay Brahim. The loan will be granted to the National Office for Electricity and Drinking Water (ONEE) through the Fund for the internationalization of the company (FIEM), according to the […]
The project of Mohammed VI Tangier Tech City is gaining momentum with the signing of share’s agreements between State-owned China Communications Construction Co (CCCC) and its subsidiary, China Road & Bridge Corp (CRBC), Tangier-Tetouan-Al Hoceima Region, Tangier Med Special Agency (TMSA) and Bank of Africa (BMCE). Under the deals inked remotely on Tuesday, the Chinese […]
The World Bank approved on Tuesday a $150 million funding in additional financing for Morocco’s Urban Transport Program, which seeks to improve the performance and the quality of public transport services. The additional funding will enable Morocco to adapt its program to address new priorities of mobility, including those related to the impact of covid-19 […]
The prompt measures adopted by Morocco after the outbreak of the coronavirus outbreak helped the country contain the economic and social impact of the pandemic, said the IMF, noting that the country should brace for deep recession this year. The Moroccan economy will contract by 6 to 7% this year due to the impact of […]
Morocco’s exports of sea food rose 7% to 570,000 by September this year compared to the same period last year, agriculture and fisheries ministry said. Canned sardine exports alone grew 6% to 116,850 tons, worth 3.6 billion dirhams, thanks in particular to higher sales in Mauritania, the US and Ghana. Frozen fish exports rose 28% […]
The Casablanca tramway company announced on Monday it secured a €100 million loan from the French Development Agency (AFD) for the building of two new lines (T3 & T4) to improve public urban transport in Morocco’s biggest city. The AFD financial support to the expansion of Casablanca Tramway network also includes a €500,000 grant to […]
As the Polisario militias continue blocking the free flow of commercial traffic on the Guerguarat border crossing between Morocco and Mauritania, food markets in Nouakchott are suffering from an acute shortage in vegetables and fruits. Morocco is Mauritania’s main supplier of fresh produce and the provocations of the Polisario caused many trucks to return to […]
MPs from the opposition joined their voice to labor unions which lambasted the government for planning to impose a solidarity tax on the salaries of middle class employees. During an examination of the draft budget law in the parliament, MPs deplored that the Middle Class continues to bear the brunt of government policies noting […]