First Independent Mena Newspaper
French Credit Insurance Company Coface has downgraded Algeria ratings to C, the lowest grade, over serious concerns of social frustrations boiling in the oil-producing country wherein high risks of social turmoil are exacerbated by the volatility of oil prices. The Algerian growth “slowed in 2017 due to the state’s dwindling financial resources and public spending […]
The green projects launched by Moroccan enterprises will receive support from the European Bank for Reconstruction and Development (EBRD). In this respect, a Memorandum of Understanding was signed in Rabat by Moroccan Minister of Economy and Finance Mohammed Boussaid, and EBRD Vice President Pierre Heilbronn, who is on visit to Morocco from 24 to 29 […]
The International Monetary Fund (IMF), Arab Monetary Fund (AMF), Arab Fund for Social and Economic Development (AFESD) and Government of Morocco will organize a high-level conference in Marrakesh, Jan. 29–30 to look into ways of promoting higher economic growth, job creation, and inclusiveness in the Arab World. The conference, “Opportunity for All: Promoting Growth, Jobs, […]
The IMF commended Morocco for launching a flexible ex-change rate system, saying that such a decision will help fur-ther improve Morocco’s external position, enhance the economy’s capacity to absorb shocks, and preserve its external competitiveness. Adopting the central bank law and continuing efforts to increase supervisory capacity in line with 2015 Financial Sector Assessment Program […]
The European Bank for Reconstruction and Development has lent French aerospace manufacturer Figeac Aéro SA €38 million to finance its production expansion in Morocco and Tunisia. The EBRD loan will support the transfer of skills and advanced technology and an improvement in local quality standards towards international levels. The creation of new jobs in countries […]
Almost one week after the launch of the Dirham float, head of Morocco’s central bank, Abdellatif Jouahri, and Economy and Finance Minister, Mohammed Boussaid, reassured that the flexible exchange rate will not lead to price hikes. Speaking at a joint session of the two houses of Parliament, the two officials offered briefings on the launch […]
French automaker PSA-Peugeot Citroen announced that it will reach a production capacity of 100,000 cars by 2019 in its Kenitra plant, that is a figure 10,000 higher than the previous expectations. “We have announced that 90,000 cars will be made in the first phase, but in reality we can reach an annual production capacity of […]
The long awaited launch of the flexible exchange rate system for the Dirham currency will start on January 15 after it was postponed for 5 months. The gradual Dirham float will start with an anchor of 2.5% in-stead of 0.3% currently, while fixing the Dirham exchange rate via a peg that is 60 percent weighted […]
The European Bank for Reconstruction & Development has approved a €9.7 Million loan to Fondation Albaraka, one of the largest microfinance institutions in Morocco for on-lending to local micro enterprises. Access to finance through banks remains extremely limited for micro, small and medium-sized enterprises (MSMEs) in Morocco. The EBRD funds will offer much-needed support for […]
Morocco has become member of the Government Debt and Risk Management (GDRM) program of the World Bank Treasury. The GDRM Program provides assistance to middle-income countries (MICs) to improve macroeconomic and fiscal management by reducing vulnerability to financial and other shocks. The GDRM Program brings a tailored approach to each country’s priorities and provides expert […]