First Independent Mena Newspaper
Morocco is mobilizing all its medical resources and infrastructures to expand its Covid-19 treatment capacity and provide more ICU beds, ventilators and healthcare staff to help contain the coronavirus pandemic, which has so far killed 90 people in the country, infected 1,184, while 88 others recovered. To support the country’s response efforts, the Royal Armed […]
The Moroccan government lifted the threshold on foreign debt as it braces for dwindling foreign exchange reserves due to the impact of coronavirus on the flow of hard currency to the country. The move aims at addressing the needs in terms of foreign exchange reserves as the coronavirus repercussions are expected to hit tourism revenues, […]
The magazine “Forbes France” highlighted, on Monday, the “Marshall Plan” deployed by King Mohammed VI, from the start of the coronavirus health crisis, as part of an anticipatory approach meant to support the economy and protect the populations. The magazine detailed this response plan and the various far-reaching measures implemented by Morocco to combat the […]
Local authorities in Morocco’s largest city of Casablanca announced their plan to transform an exhibition center into a hospital able to accommodate 700 coronavirus patients. The exhibition center is the largest in Morocco stretching over a surface area of 20,000 square meters, authorities said in a statement. The center will be transformed into a hospital […]
Morocco has devoted a huge budget to address the COVID-19 health crisis, becoming part of the top five countries worldwide that have devoted huge budgets to outweigh the economic impact of Covid-19. According to data compiled by the American Goldman Sachs bank, Morocco is the fourth country in the world to earmark the largest amounts […]
Morocco seems to have opted for austerity measures instead of a revision of its appropriation bill to offset the rise in public spending to contain the coronavirus outbreak. Morocco expects a spike in spending to counter coronavirus and mitigate its social and economic impact combined with a drop in tax and customs revenues as demand […]
The Moroccan economy is well-equipped to absorb the shocks relating to the measures imposed to contain the coronavirus as over half of Morocco’s non-agricultural GDP operates as usual, Finance Minister said. Banks, agri-business, extractive industries and public administrations, representing 53% of non agricultural GDP, maintain normal operations and are unlikely to be affected by the […]
The World Bank approved a first set of emergency support operations for developing countries around the world, using a dedicated, fast-track facility for COVID-19 (coronavirus) response. The first group of projects, amounting to $1.9 billion, will assist 25 countries, and new operations are moving forward in over 40 countries using the fast-track process, the international […]
Turkey’s top electronics defense contractor, Aselsan, Thursday revealed that it has received for the first quarter of the year orders estimated at $320 million despite ongoing difficult global business operations over the coronavirus outbreak. Aselsan “continued its growth trend in the first three months of 2020 without losing momentum,” the company Chairman Haluk Görgün said […]
African finance ministers have requested the support of the International Monetary Fund, the World Bank and the European Union for bilateral, multilateral and commercial debt relief amid the coronavirus crisis. The request was germinated from the second virtual meeting on Tuesday, hosted by Vera Songwe, Executive Secretary of the Economic Commission for Africa, and […]