First Independent Mena Newspaper
Bank Al-Maghrib, Morocco’s central bank, has decided to hold interest rates steady, contrary to the forecasts of many analysts who were expecting a hike of rates following the coronavirus pandemic, rainfall shortage and the Russia-Ukraine war. During its first meeting for the year 2022, the Board of Directors of the Bank decided to keep unchanged […]
Morocco’s central bank revised upwards its inflation figures for 2021 to 1.4% from 1.2% due in part to a surge in foodstuff and fuel prices in the international market. Though inflation is expected to remain under control, the central bank said it plans an inflation targeting as it continues currency reforms, yet without giving a […]
Morocco’s central bank has bought $471 million of excess foreign currency from the local market to absorb excess and ensure the good functioning of the market. The central bank said in a statement that it will maintain hard currency auctions as long as necessary depending on the evolution of the foreign exchange market. In recent […]
Morocco’s central bank revised upwards Morocco’s economic growth to 5.3% in 2021 citing the beginning of the end of the health crisis with the roll out of the vaccination campaign and a better crop year. The bank said growth will pick up from a contraction of 7% last year under the combined effect of drought […]
Bank Al Maghrib, Morocco’s central Bank, and the International Finance Corporation (IFC) have agreed to bolster their cooperation to enhance women’s access to financing. Under the agreement inked on Monday in Rabat, Bank Al Maghrib will benefit from IFC’s expertise and its global networks to expand women’s access to funding and support women’s entrepreneurship. The […]