North Africa’s Economy
Economy: Morocco’s central bank ups interest rates to slowdown surge in inflation
Morocco's central bank on Tuesday raised interest rates by 50 basis points to 2.0 percent in an effort to slow down a surge in inflation. The Bank Al-Magrib (BAM), after a board meeting, said the economy remains "deeply marked by the aftermath of the (coronavirus)...
Environment: Severe floods wreck havoc on West African agriculture
By Aminu Abubakar Nigeria rice farmer Adamu Garba squelched barefoot through his paddy fields, surveying damage from devastating floods that have destroyed farmland across the north of the country. Parts of West and central Africa have been battered by floods ravaging...
Italian media question Algeria’s ability to supply promised natural gas, ENI on the defensive ($)
The Italian media has reported this week about the alleged difficulties faced by the Algerian state-onwed oil company Sonatrach to honor new gas commitments to Italy. Using investigative media Algeria Part as a key source, Italian publications like La Repubblica, LaPresse.it and the Italian edition of the Huffington Post, newspapers reported alleged general state of panic in Sonatrach as “Algeria is struggling to honor its new gas commitments with Italy.” Sonatrach has inked a deal to deliver gad to Italian giant ENI.
Tunisia to raise public sector salaries in bid to ease social tension
Tunisia's government and the country's powerful UGTT union signed a deal boosting public sector salaries on Thursday, three months after a strike that paralysed the country. The deal involves a five percent annual hike to public sector wages every year until 2025....
Energy: Morocco and Nigeria sign MoU for a gas pipeline
A memorandum of understanding was signed Thursday for the development of a project to pump gas from Nigeria to Morocco via West Africa and then to Europe, the parties said. The agreement to go ahead with the Nigeria-Morocco Gas Pipeline project was inked in Rabat by...
Tunisia: Cash-strapped Tunisia faces rationing and food shortages
By Habib Haj Salem Cash-strapped Tunisia is facing a dearth of imported foodstuffs from dairy products to coffee, forcing informal rationing at supermarkets and threatening some food and beverage companies. For weeks, consumers and businesses have been struggling to...
Morocco reacts to deepening social crises with ineffective minimum wage increase ($)
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Algeria and France negotiate increase of gas deliveries ($)
Algeria could increase its gas deliveries to France by 50%. Negotiations between the Algerian and French authorities are underway to reach an agreement to boost Algeria’s gas exports to France. French radio Europe 1 was the first French media to reveal that Algiers...
Egypt: Tanker blocks Suez canal
An oil tanker briefly became stuck in Egypt's Suez Canal on Wednesday night, officials announced, raising fears that last year's major blockage of the global maritime route could be repeated. The Affinity V "ran aground in the Suez Canal at 19:15" (17:15 GMT)", a...
How to influence Africa: Japan pledges $30 billion in Africa-wide investments
Japan will cooperate closely with African countries to promote "more resilient" economies, Prime Minister Fumio Kishida told the final session of an investment conference in Tunisia on Sunday. He also promised Japan would use its place on the United Nations Security...