Business Headlines Maghreb Morocco

Covid-19: Morocco’s pharmacies get 4.5 Mln masks daily

Moroccan pharmacies are supplied daily with 4.5 million facemasks to enable citizens protect themselves against the coronavirus, said minister of industry & trade Moulay Hafid Elalamy. Speaking at a parliamentary question time on Tuesday, the minister said the country has 7 million masks in stock, which have become compulsory in the North African country since […]

Europe Finance Headlines International Morocco

Covid-19: World Athletics backs El Guerrouj’s initiative, sets up athletes’ support fund

World Athletics launched on Tuesday, upon the initiative of Moroccan former athletics star Hicham El Guerrouj, a $500,000 fund to support professional athletes experiencing financial hardship due to the coronavirus pandemic. The fund, set up in partnership with the International Athletics Foundation (IAF), will be used to assist athletes who have lost most of their […]

Americas Headlines International Morocco

Covid-19: Morocco’s health workers get US protective equipment

US Defense Threat Reduction Agency (DTRA) has donated personal protective equipment to lab technicians of Moroccan National Institute of Hygiene to enhance their protection against coronavirus pandemic. “This equipment goes directly to safeguarding the lives of Morocco’s healthcare workers who are on the front lines in the fight against the novel coronavirus, helping them to […]

Business Emerging Markets Headlines Morocco

Covid-19: Moroccan Economy Loses $ 2.9 Bln & 8.9 Pts of GDP in Q2

The global coronavirus epidemic will knock 8.9 points off of Morocco’s economic growth in the second quarter of 2020, says Morocco’s Statistics agency (HCP). In its updated forecast for first semester of 2020, le “Haut Commissariat au Plan” says Covid-19 will cost the country $2.9 billion in economic loss due to a sharp drop in […]

Business Finance Headlines Morocco

Fitch Affirms Morocco at BBB- Rating & Revises Outlook to Negative

Fitch Ratings has affirmed Morocco at ‘BBB-‘ rating and revised the Outlook on country’s Long-Term Foreign-Currency Issuer Default Rating (IDR) to negative. The global rating agency explained the negative outlook by the impact of the coronavirus pandemic on the Moroccan economy which will experience the sharpest GDP contraction in 25 years, besides a marked increase […]

Finance Headlines Maghreb Morocco

Covid-19: 4.3 million households to receive financial aid- Finance minister

The Moroccan state will distribute aid to 4.3 million families, headed by workers in the informal sector, as the coronavirus outbreak and the measures to contain it freeze economic activity in multiple sectors pushing millions to temporary unemployment, finance minister Benchaaboun said. During the parliament question time Monday, Benchaaboun said that 2.3 million households have […]

Business Europe Finance Headlines International Morocco

EU supports Morocco’s education sector with $150 mln

The EU will offer $150 million in support to Morocco’s education sector in its efforts to promote distance learning which has become vital amid a lockdown to counter the coronavirus outbreak. In this regards, the EU, Morocco’s finance ministry and education ministry signed a deal to help invest the money to promote Morocco’s educational offer, […]

Business Europe Headlines International Morocco

Post Covid-19 Crisis: Rabat calls for new cooperation model with EU

Morocco and the European Union discussed on Monday new partnership opportunities in the aftermath of the coronavirus pandemic which has affected global trade and economy. During videoconference talks with the European Commissioner for Competition Margrethe Vestager, Moroccan minister of Industry and Trade Moulay Hafid Elalamy called for “a deep review of the EU- Morocco partnership” […]

Europe Headlines International Morocco

French media echoes Morocco’s pro-active anti-Covid measures

The forward-looking protective measures taken by Morocco to counter the coronavirus outbreak along with the mobilization of the industrial fabric to supply citizens with masks were commended by different French media, which asked Paris government to follow suit. BFM TV pointed to the solidarity campaign and generous contributions of Moroccan companies and citizens to the […]