First Independent Mena Newspaper
Morocco will continue to consider the IMF flexible credit line of $5 billion as precautionary and would only draw on it in case of external shocks like the Covid-19 pandemic, Morocco’s finance ministry said. The credit line is only granted to countries with sound macroeconomic and financial fundamentals and would add to Morocco’s credibility in […]
The International Monetary Fund (IMF) decided on Monday to provide a $5 billion precautionary flexible credit line (FCL) to Morocco to enhance the country’s external buffers, and support its economic resilience and structural reforms. Ms. Antoinette Sayeh, IMF Deputy Managing Director, said : “Morocco’s very strong macroeconomic policies and institutional framework have allowed its economy […]
The International Monetary Fund (IMF) has loaned Burkina Faso $80.7 million to help the West African country surf the impact of the global food crisis. “Food insecurity in Burkina Faso has increased significantly owing to deteriorating security conditions, which led to the displacement of about 2 million people; unfavorable climate events; supply-chain disruptions following the […]
Home to the second most crypto-currency holders in the world, Africa is in urgent need for greater consumer protection and regulation of the crypto industry, experts say, which has been highlighted by the collapse of the world’s third largest crypto exchange FTX and subsequent plunge in the prices of major crypto assets, most notably Bitcoin. […]
The European Union has launched an initial mobilization of €50m in Democratic Republic of Congo’s (DRC) critical minerals sector and infrastructure projects on the sidelines of the first-ever Kinshasa Economic Forum. The funding was announced at the inaugural Kinshasa Economic Forum, which brought together representatives from the EU, the DRC and France French President Emmanuel […]
The International Monetary Fund intends to approve Morocco’s request for a 5 billion-dollar Flexible Credit Line (FCL) during a meeting of its executive board meeting. “Considering Morocco’s very strong policy frameworks and track record, IMF Managing Director Kristalina Georgieva intends to recommend approval of the FCL arrangement for Morocco when the IMF Executive Board meets […]
The IMF highlighted on Jan 24 the “very strong policy response” that Morocco took to mitigate the social and economic impact of the recent negative shocks fueled by the repercussions of the war in Ukraine. At the end of its Article IV consultations, the IMF said Morocco’s economy will bounce back to 4% in 2023 […]
Egypt’s President Abdel Fattah al-Sisi on Thursday approved a document outlining 62 economic activities the state will withdraw from and turn over to the private sector, a cabinet statement said. The document’s approval was required by the International Monetary Fund, which this month approved a $3 billion financial support package for Egypt. The statement said […]
A mission led by a multidisciplinary team from the International Monetary Fund (IMF) highlighted Bank Al-Maghrib’s (BAM) transparency practices. This mission focused on examining the bank’s transparency practices in five areas, relating to “Governance”, “Policies”, “Operations”, “Results” of these policies, as well as the “Institutional Relations” it maintains with national and international bodies, the central […]
The International Monetary Fund (IMF) has approved financing to cope with rising global food prices for Malawi, the first low-income nation to receive financing from the IMF under a new tool intended to help countries cope with global food price shocks. The number of Malawians facing food insecurity has doubled to 20% of the population […]