North Africa’s Economy
Egypt faces major risks this year as economy continues to fall apart
“Chicken feet are good for you…” The Egyptian pound traded Wednesday at half its value from March after the central bank intervened for a third time as part of an International Monetary Fund loan agreement. The devaluation, representing a drop of around 50 percent...
Podcast: Sahel and North Africa week in review 7 Jan 2023
Greetings to our second episode of Week in Review and a quick summary of what we are tracking in the Sahel and in North Africa. Today is Saturday, the 7th of January 2023. This past week was somewhat subdued in the region largely due to the year-end holiday season and...
Egypt starts the year with a disastrous economic environment and social tension
By Mona Salem and Sarah Benhaida: Public anger has been growing for months in Egypt over a severe dollar crunch and soaring food prices. But for many a money-saving tip from a state body has been the last straw. As families have struggled to purchase household...
Tunisia facing daunting economic outlook, headed to IMF bailout
Tunisia faces a year of low economic growth and runaway inflation, and urgently needs a bailout deal with the International Monetary Fund, its central bank chief said Wednesday. "We need to reach a deal with the IMF as soon as possible to mobilise external finance in...
Spain cracks down on use and abuse of undocumented migrants in agriculture
Spanish police said Thursday they have broken up a criminal group that exploited undocumented migrant workers in the agricultural sector, mainly from Morocco, and sold them false documents. Officers arrested 43 people in the southern province of Malaga suspected of...
Morocco’s argan industry in need of stimulus
By Kaouther Larbi: Morocco's argan oil is highly prized by the cosmetics industry, yet it is now mostly produced by elderly workers, raising questions about how long the artisanal practice can continue. A dozen women, sitting on the floor of a workshop inland from...
Tunisia looking to stabilize its economy with new development plan
The Tunisian government on Tuesday presented a three-year development plan that relies heavily on private sector investment, particularly in industry, and boosting phosphate production. The cash-strapped North African country is battling 10 percent inflation alongside...
Algeria makes baby steps to stimulate tourism sector, but just in the Sahara
Algeria will allow foreign tourists heading to its vast desert south to obtain visas on arrival, part of efforts to "promote tourism in the Sahara", the interior ministry announced Wednesday. In a statement, it said that "foreigners heading to the south of the...
Tunisia: While waiting for an international bailout, Tunisia looks to raise taxes to stay afloat
Tunisia's finance minister unveiled a budget Monday aiming to use new tax revenues to claw the deficit back to near five percent of GDP, as the cash-strapped country awaits an international bailout. The 2023 budget comes as the North African country grapples with...
Egypt: Suez Canal chief seeks to dispel fears over draft Egypt law
The chairman of Egypt's Suez Canal on Thursday affirmed the waterway is "not for sale", in a bid to allay fears over a draft law under discussion in parliament. On Tuesday the legislature approved in principle a bill proposed by the government seeking to establish a...