Daily Archives: November 2, 2020

Tangier: Reports about Deaths of Covid-19 Patients Due to Lack of Oxygen are Unfounded (Health Ministry)

Tangier – Reports published Sunday by some electronic websites about the deaths of COVID-19 patients at the Duc De Tovar hospital in Tangier due to lack of oxygen are completely unfounded, says Monday the Ministry of Health.   According to a statement from the ministry, the management of the Duc De Tovar hospital in Tangier

Accidental Explosion at FAR Socio-administrative Complex in Rabat – Military Source

Rabat – As part of the installation of dental equipment and material by a private civilian society, at the Royal Armed Forces Socio-Administrative Complex in Hay Riad, Rabat, an accidental explosion occurred Monday at around 11:00 a.m during tests and trials of installation of this equipment causing minor injuries to 5 technicians from the provider

Morocco’s Official Reserve Assets Up 23.1%

Rabat – Morocco’s official reserve assets amounted to 293.7 billion dirhams until October 23, 2020, up by 23.1% compared to the same period in 2019, Morocco’s central bank (Bank Al-Maghrib) has said. During the week of 22-28 October, Bank Al-Maghrib injected 104.1 billion dirhams. As for the interbank rate, it has remained at 1.5%, the

AFD/Casa Transport: Loan of 1.1 Bln MAD To Build Tramway Lines T3 and T4

Casablanca – The French Development Agency (AFD) and the Casa Transport LLC have signed a loan agreement of 1.1 billion dirhams (100 million euros), associated with a technical assistance grant worth 5.5 million dirhams (500,000 euros) to build two new Tramway lines (T3 and T4) in order to improve the mobility of Casablanca’s residents in

Moroccan Najat Benchiba Savenius Named UK Entrepreneur of the Year

London – The founder of the “Gazelle Advisory Group”, Najat Benchiba-Savenius has been named by the British magazine Women in Finance, as UK “Entrepreneur of The year 2020” in the SME category. This British woman of Moroccan origin was elected by this monthly finance magazine, alongside other women from Europe, Asia, Africa, Latin America, the

Morocco: Growth Forecast at 4.5% in 2021 (IMF)

Casablanca – Morocco’s gross domestic product (GDP) is expected to rebound to 4.5% in 2021 as the effects of drought and the Coronavirus (Covid-19) pandemic are fading, said on Monday the head of the mission of the International Monetary Fund (IMF), in charge for Morocco, Roberto Cardarelli. In 2020, the GDP is expected to contract

Public deficit: IMF Fully Agrees with BAM’s Policy

Casablanca – The International Monetary Fund fully agrees with the policy of Bank Al Maghrib (central bank) which refuses any intervention to finance the public deficit, said on Monday evening the head of the mission of the International Monetary Fund (IMF), in charge of Morocco, Roberto Cardarelli.   “The IMF is in favor of the