North Africa’s Economy
Egypt: Sisi visits India, paves way for greater bilateral cooperation
Egypt and India announced Thursday a "strategic partnership" to increase trade by billions of dollars and strengthen diplomatic ties, as President Abdel Fattah al-Sisi concluded a visit to New Delhi. Facing a worsening economic crisis, Egypt is scrambling to boost...
Energy: Libya says agreement on major gas development project reached with Italy’s ENI
Libya's National Oil Corporation said Wednesday it had reached an $8-billion deal with Italian energy giant ENI to develop offshore hydrocarbon sites. "We have reached a deal with ENI to develop the oil and gas sector, by developing two offshore sites which together...
Egypt: Channeling more than 1.4 billion tons of cargo, Suez Canal sees revenues up 77% in 2022
Egypt's Suez Canal Authority announced Wednesday an all-time annual revenue record, earning $8 billion in transit fees in 2022, as the country balks under a worsening economic crisis. The income from the vital waterway is about 25 percent higher than the $6.3 billion...
Energy: New Italian PM heads to Algeria to secure more gas
Italian Prime Minister Giorgia Meloni agreed Monday to strengthen energy cooperation with Africa's top gas exporter Algeria, the latest European country seeking supply deals to help reduce reliance on Russia. "Facing the great energy crisis that Europe in particular...
Economy: Tunisia gets food donations from Libya
Food shortages and rising cost of commodities in Tunisia: briefly explained Conflict-wracked Libya donated several dozen trucks of food supplies on Tuesday to neighbouring Tunisia, the Libyan embassy said, months into an economic crisis that has seen repeated...
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...