First Independent Mena Newspaper
Despite mounting global economic uncertainties, East Africa remains on a steady growth path, driven by investments in infrastructure, energy, agriculture, and digital innovation. According to a recent Deloitte’s 2025 East Africa Economic Outlook, the region is set to be the fastest-growing on the continent, even as high inflation, rising debt, and currency volatility pose significant […]
The American rating agency Moody’s confirmed, during its periodic review in March, the Ba1 rating assigned to Morocco, with a stable outlook. This decision highlights the Kingdom’s ability to maintain its macroeconomic stability despite ongoing challenges, such as slowed economic growth and increasing public debt, writes the magazine Challenge. In its report, Moody’s emphasizes the […]
Niger failed to make a debt payment of 13.4 billion CFA francs ($22 million) last week, the West African debt management agency said on Monday (19 February), bringing the total default to $519 million since a coup in July 2023 and its subsequent suspension from regional financial markets. The West African Economic Monetary Union (WAEMU) […]
Moody’s Investors Service cuts Egypt’s sovereign rating by one notch to B3 from B2, saying that it does not expect the country’s liquidity and external positions to rebound quickly. The change comes as the Arab country has continued to face a foreign currency shortage despite allowing the Egyptian pound to depreciate sharply in recent months. […]
Nigeria’s central bank has imposed restrictions on weekly cash withdrawals to limit the use of cash as credit agency Moody’s warned that the country’s banks face tough challenges over a dollar shortage. Foreign currency risk is “very high” for Nigeria’s banking system, according to a report by Moody’s. Nigeria is one of seven countries worldwide […]
As Kenyans head to the polls on August 9, East Africa’s largest economy could be headed for tough times. With the country’s currency having depreciated sharply, Kenya’s Treasury will face difficulty paying back its huge dollar-denominated debt. Kenya is among developing countries facing an economic crisis, according to a recent report released by Moody’s Investors […]
Credit rating agency Moody’s affirmed Morocco’s outlook to stable from negative while it maintained its long-term issuer at BA1. Moody’s noted the recovery of Morocco’s real GDP to levels backed by solid crisis management capacities by the government during the pandemic, the agency said in a statement. “The improved governance track record underpins Moody’s expectation […]
“The absence of a constitutional court in Tunisia increases the risk of a prolonged political crisis, Moody’s Investors Service deemed in an issuer comment at the end of July, reports TAP news agency. This will further slow reform implementation upon which hinge disbursements under the umbrella of an envisioned new IMF loan agreement, according to […]
New York-based credit rating agency, Moody’s, Tuesday downgraded Tunisia’s long-term foreign-currency and local-currency issuer ratings to B3 from B2 with negative outlook. “Moody’s has also downgraded the Central Bank of Tunisia’s senior unsecured rating to B3 from B2 and the senior unsecured shelf rating to (P)B3 from (P)B2, and maintained the negative outlook. The […]
Credit rating agency, Moody’s, highlighted Morocco’s resilience to domestic and external shocks despite coronavirus propelling fewer tourists and exports which it said will be offset by lower energy imports. It maintained Morocco’s credit profile at Ba1 stable reflecting “demonstrated resilience to domestic and external shocks,” and buoyed by access to relatively deep domestic capital markets. […]