News Stream April 30,2020
Tag: covid-19
Morocco to edit its 2020 appropriation bill, prepares post-covid economic recovery plan
Morocco will review its 2020 appropriation bill in light of the macro-economic disruptions caused by the coronavirus and in preparation for the post-virus era, the economic monitoring committee said. The Committee, set up to address the consequences of the virus on the economy, said in its sixth meeting it will look into the cases of […]
Covid-19: EU welcomes Moroccan King’s African initiative
The European Union lauded King Mohammed VI’s Africa initiative, calling for the establishment of an operational framework to support African countries in the management of the Covid-19 pandemic. “This initiative seems to fit perfectly with Morocco’s return to the African family, which we have observed with great interest for several years, especially in many areas […]
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 […]
COVID-19: WAEMU suspends temporarily Convergence Pact
The Conference of Heads of State and Government of the West African Economic and Monetary Union (WAEMU) decided to suspend temporarily the application of the Convergence, Stability, Growth and Solidarity Pact. The decision was made at an extraordinary session by videoconference on 27 April 2020 to address the health crisis in WAEMU countries. According to […]
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 […]
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 […]
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 […]
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 […]
COVID-19: African diaspora’s remittances to drop in 2020
The coronavirus pandemic and its economic consequences in host countries will have a negative impact on migrants’ money transfers to Africa, which are expected to fall sharply in 2020, according to World Bank experts. The COVID-19 pandemic is a blow to the economy of the countries on the African Continent, the experts say. In 2019, […]