North Africa’s Economy
Algeria: With a bankrupt economy and poor governance, Algeria wants to revisit its trade agreement with EU
Algiers, Aug 10, 2020 - Algeria's president has requested the country's trade minister reassess a deal with the European Union, ahead of a free trade agreement due to come into effect on September 1. President Abdelmadjid Tebboune asked Kamel Rezig to "carry out an...
Algeria: Currency depreciation, inflation, recession, and the pandemic: an economy in turmoil
Algiers, Aug 9, 2020 - [Photo: Algerian retirees queuing to withdraw their pensions during a cash crunch in July 2020] Currency depreciation, inflation, negative growth, businesses closed: Algeria's economy has been battered by the one-two punch of the coronavirus...
Morocco travel sector facing a daunting outlook
The resumption of domestic flights at the end of June in Morocco, followed by a partial reopening of borders on July 15, all in a context of easing of containment measures, had given the travel industry hope. But the announcement on July 26 of the closure of eight...
Egypt: Impasse in talks over Nile dam. Sudan threatens to withdraw
Egypt on Tuesday called for a suspension of meetings with Ethiopia on Addis Ababa's massive dam construction project on the Nile. Sudan threatened to withdraw from the talks saying Ethiopia insisted on linking them to renegotiating a deal on sharing the waters of the...
Former and current ENI CEOs in trouble over alleged bribery in Nigeria
North Africa Journal's editor's note: Although this case is on ENI's alleged corruption case in Nigeria, ENI's subsidiary Saipem has also been implicated in alleged wrongdoing in Algeria. Rome - AFP - Italian prosecutors said late Tuesday they are seeking an...
Libya’s businesses in ruin
Libyan businessman Mahmud al-Sharkassi surveyed the ruins of his factory on the outskirts of war-scarred capital Tripoli, disheartened but determined to get back to work. "This used to be the heart of my project. Everything started here," he said, looking over...
Algeria: The economic cost of the Covid-19 epidemic in Algeria
Algiers, July 18, 2020- Algeria said Saturday that the coronavirus crisis on top of falling oil prices have caused unprecedented damage to its economy, including over $1 billion in losses in the public sector alone. "Algeria is facing an unprecedented difficult...
Tunisia: Protesters block key pipeline in Tataouine
Tunis, July 17, 2020 - Protesters demanding jobs in Tunisia's marginalised south have blocked a key pipeline carrying half the country's oil production after hundreds stormed a crude production site, the energy ministry said Friday. On Thursday demonstrators pushed...
Algeria: Sonatrach rep in Lebanon among those charged by judge in tainted fuel scandal
Beirut, July 10, 2020 - A Lebanese investigative judge charged dozens of people including top officials Friday over a delivery of suspect fuel intended for the electricity sector, a judicial source and state media said. The "tainted fuel" case made headlines in March...
Libya’s oil production to resume after lifting force majeur
Tripoli, July 10, 2020 - The Libyan National Oil Company announced Friday the resumption of oil production and exports after a nearly six-month shutdown due to conflict dividing the country. "The NOC has lifted force majeure on all oil exports from Libya," the company...