First Independent Mena Newspaper
State-owned banks in Algeria will soon be allowed to list in the stock exchange as Algiers continues to stumble in the aftermath of the plummeting oil prices. The privatization of the state-owned banks is an attempt by the Algerian government to promote its underdeveloped banking sector and diversify sources of revenue after the drop in […]
The Executive Board of the International Monetary Fund (IMF) approved on July 22 a two-year arrangement for Morocco under the Precautionary and Liquidity Line (PLL) for 3.47 billion dollars. The new PLL arrangement will provide Morocco with useful insurance against external shocks as the authorities pursue their reform agenda aimed at further strengthening the economy’s […]
The International Monetary Fund (IMF) raised its 2016 growth forecast for the Middle East and North Africa on the backdrop of a slight increase in oil prices, but maintained its cautious outlook for Saudi Arabia. The Washington-based Fund said in its July 2016 World Economic Update report that the Middle East, along with Pakistan and […]
The Speaker of the Tunisian parliament, Mohammed Ennaceur, denied reports that Tunis has approved the deployment of a military base in the country after it was designated as a major non-NATO ally of the US by President Obama. Speaking to Russia Today, Ennaceur claimed the reports are “not true” because “there are no such plans.” […]
The International Monetary Fund (IMF) has approved a $2.9 billion Extended Fund Facility (EFF) for Tunisia to help the country carry out its economic and financial reform program. This program aims at promoting stronger and more inclusive growth by consolidating macroeconomic stability, reforming public institutions, facilitating financial intermediation and improving the business climate. According to […]
Algeria needs to adjust to the shock created by the oil prices collapse by intensifying fiscal consolidation and speeding up implementing some structural reforms. “Opportunity to reshape Algeria’s growth model should be seized now, before a more rapid adjustment becomes unavoidable.” The statement was made by a delegation of the International Monetary Fund (IMF) at […]
Algeria is trying to balance its finances as its economy continues to struggle due to the low global oil and gas prices that are affecting countries heavily dependent on such revenues. A source close to the North African country’s Central Bank hinted that the authorities at the bank let the Algerian dinar to depreciate against […]