First Independent Mena Newspaper
The International Monetary Fund has praised the resilience shown by Moroccan economy to challenging external conditions. Despite water scarcity, the September 2023 earthquake, and country’s economic activity picked up to 3 % in 2023 thanks to strong exports and a rebound of domestic demand In a press release issued Wednesday, the Fund’s Executive Board, which […]
The IMF said Morocco’s economic growth would pick up slightly to 3.1% this year and 3.3% next year, forecasting a return of inflation to pre-pandemic levels. Inflation would stand at 2.2% this year and 2.5% next year, in line with central bank forecasts, the IMF said in its April global economic outlook. Algeria’s growth would […]
The IMF agreed to offer Egypt a loan worth 8 billion dollars under an Extended Fund Facility to support the country’s economic stability. Following its review, the IMF noted that Egypt’s recovery was slowed by rising global inflation, foreign exchange shortages, and elevated debt levels. Egypt is also struggling with new challenges such as the […]
Cooperation prospects between Morocco and the International Monetary Fund, in view of the World Bank and IMF Spring Meetings, scheduled in Washington April 17-19, were reviewed at a meeting between Morocco’s Ambassador to the United States, Youssef Amrani, and IMF Managing Director, Kristalina Georgieva. During the working meeting, Kristalina Georgieva commended Morocco for the excellent […]
Egypt and the United Arab Emirates (UAE) have signed a landmark $35 billion investment deal to develop Ras al-Hekma peninsula on the Mediterranean coast that, economists say, will inject $35 billion of foreign direct investment into the struggling Egyptian economy, helping it to bolster economic growth and address a hard currency crisis. The deal is […]
The IMF welcomed the resilience of the Moroccan economy in 2023 despite external shocks and drought, noting that growth should improve to 3.5% in the medium term. “Economic growth has strengthened in 2023 thanks to the recovery in domestic demand and buoyant exports,” the IMF said in a statement the end of its Article IV […]
Escalating attacks by Yemen’s Houthi rebels on ships in the Red Sea have not only unraveled a key global trade route, sending shipping and insurance costs soaring, but they are also threatening to again push up the cost of living in Africa that is already struggling with crippling debt. The Red Sea crisis and the […]
Africa is in the grip of a dollar drought and the current continent-wide scarcity of the US dollar is further pushing many already beleaguered African countries into deeper economic crises, according to a new Bloomberg report. Several Sub-Saharan African (SSA) countries, including Kenya, Nigeria, Ghana and Tanzania, have for several months experienced shortages of the […]
While millions of dollars are being channeled to African financial institutions as part of Chinese President Xi Jinping’s $10 billion plan for the continent, the International Monetary Fund (IMF) has cautioned African nations about the possibility of a regional economic downturn and the ripple effects that China’s slowing economy could bring. Xi’sUS$10 billion pledge for […]
Morocco’s automotive exports reached $8.8 billion between January and August this year, a jump of 35.6% year on year, says “FDI Intelligence” in its latest report on the investment opportunities offered in the North African Kingdom. This impressive growth highlights the sector’s leading position in the country’s overall exportation, as it outperforms the sectors of […]