IMF agrees on rise in funding, extra Africa board seat
The IMF announced member nations agreed to increase their contributions to the global lender and give sub-Saharan Africa a third seat on its executive board at its first meetings on the continent since 1973. Spanish Economy Minister Nadia Calvino, who chairs the IMF Financial Committee, said there was an agreement...
SFD to provide US$20m loan to Central African Republic for development projects
MARRAKESH, MOROCCO - The CEO of the Saudi Fund for Development (SFD), Sultan bin Abdulrahman Al-Marshad, signed an additional US$20 million loan agreement with Central African Republic (CAR) Prime Minister Félix Moloua.The agreement was signed on the sidelines of the 2023 World Bank and International Monetary Fund (IMF) Annual Meetings...
Africa’s exports expected to hit close to $1 trillion by 2035: Standard Chartered
Marrakesh, Morocco – Africa’s total exports will reach $952 billion by 2035 and the African Continental Free Trade Area (AfCFTA), once fully implemented, has the potential to increase this figure by a further 29 percent, a Standard Chartered report has revealed. This represents an annual growth rate of 3 percent from...
IMF forecasts UAE GDP growth of 3.4% in 2023
MARRAKESH, MOROCCO - The International Monetary Fund (IMF) has forecast that the UAE's real Gross Domestic Product (GDP) will grow by 3.4 percent in 2023 and 4 percent in 2024.The IMF's forecast is in line with that of the World Bank, which released a similar estimate two days ago.The IMF said...World economy resilient, says IMF; keeps growth forecast unchanged
The IMF kept its 2023 global growth forecast unchanged but warned that the economy is "limping along" as inflation remains high and the outlooks for China and Germany were downgraded. The IMF's updated World Economic Outlook still sees growth of 3.0 percent for this year but it cut its forecast...
Deadliest quake in decades kills over 2,000 in Morocco; rescue bid is on
Following the devastating earthquake in Morocco on Saturday that killed more than 2,000 people so far, the UAE, Iran, Iraq, Jordan, Algeria and Israel along with several other countries offered condolences, support, and assistance. UAE President Sheikh Mohamed bin Zayed Al Nahyan emphasized solidarity with Morocco and ordered critical relief...Deadliest quake in decades kills over 1,000 in Morocco; rescue bid is on
Following the devastating earthquake in Morocco on Saturday that killed more than 1,000 people so far, the UAE, Iran, Iraq, Jordan, Algeria and Israel along with several other countries offered condolences, support, and assistance. UAE President Sheikh Mohamed bin Zayed Al-Nahyan emphasized solidarity with Morocco and ordered critical relief delivery.UAE, Morocco speakers of parliament discuss ways to enhance cooperation
MARRAKESH, MOROCCO - Speaker of the UAE Federal National Council (FNC) Saqr Ghobash met with Morocco Speaker of the House of Representatives Rachid Talbi El Alami on the sidelines of the Parliamentary Conference on Interfaith Dialogue here.Ghobash also met with Naam Miyara, President of the Chamber of Councillors of Morocco.The...
Israeli carrier launches direct flight to Morocco
About 100 passengers were on the flight that departed from Tel Aviv to Marrakesh. Two to three flights per week are planned on the route
