First Independent Mena Newspaper
Central Bank governor Abdellatif Jouahri warned of the impact of climate change on monetary policy and said the bank was working with the government on a strategy on combating climate change and mitigating its impact. Climate change “affects growth, employment and inflation, the main variables on which monetary policy decisions are based. Besides, climate-related […]
Tunisia’s president Kais Saied extended his power grab to the central bank, undermining the independence of the monetary policy in a country that suffers from an aggravating fiscal and economic crisis. Saied made the statement as he seeks direct financing of the state budget by the central bank, a move many economists warn would further […]
The governor of the Central Bank of Seychelles (CBS) Caroline Abel, will leave her position in March 2024 when her contract ends. C. Abel made the announcement during the CBS press conference on the monetary policy for the upcoming three months, State-run news agency reports. “Today is my last press conference as governor of the […]
As Kenya is moving closer to sealing an Economic Partnership Agreement (EPA) with the European Union, the East African economic powerhouse has also announced the possibility of a $1bn loan from China that could be used to help pay off a $2bn Eurobond repayment that is due in June next year. Kenya’s economic partnership deal […]
Morocco’s central bank and the Moroccan government are pursuing policies that are triggering opposite impacts on inflation. As the central bank tightens its monetary policy by raising the key interest rate for the third time in a row to 3%, the government continues its expansive budgetary policy in line with its goals to spur private […]
Morocco would issue a dollar-denominated bond in 2023, the first since 2020, the central bank said. Morocco has yet to recover its investment grade although its most recent foreign debt issue was successful. Domestically, central bank official Youness Issami said the central bank has proceeded to purchases of treasury bonds for the first time The […]
Henri Rabarijohn, the governor of Madagascar’s Central Bank (BFM)) has stepped down from his position on health conditions ground. President Andry Rajoelina has accepted the resignation of Rabarijohn who, according to a statement from the cabinet, stepped down due to health issues and wants to leave the country for treatment abroad. The Malagasy leader appointed […]
Morocco’s central bank has decided to raise its key rate by 50 basis points to 2.5pc due to inflation upward trends and external pressures that spread to non-tradable goods and services and to the implementation of the subsidy system reform starting 2024. During last quarterly meeting held Tuesday in Rabat, the Board of Bank Al-Maghrib […]
Bank Al-Maghrib, Morocco’s central bank, decided Tuesday to increase its key interest rate by 50 basis points to 2 percent and to continue to monitor closely the economic developments, both nationally and internationally, and in particular, the evolution of inflationary pressures. The decision was made by the Bank’s Board after having analyzed the international economic […]
The trade deficit in Tunisia widened by record 56% in the first semester of 2022, reaching 8.1% of GDP, while the budget deficit, exacerbated by mounting energy and food subsidies, is expected to reach 9.1% in 2022, compared to 7.4% in 2021, according to the World Bank’s latest report. Inflation in this country rose from […]