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Finance & Economy

Covid-19: EIB supports private sector in Morocco

The European Investment Bank (EIB) is supporting the national private sector in the face of the new coronavirus Covid19 pandemic. The financial institution announced on Wednesday support for the private sector, notably through its lines of credit with Moroccan financial institutions, whose outstanding amount to date stands at 440 million …

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Glovo and Marjane team up for home delivery

Glovo announces the signing of a partnership with the leader of mass distribution in Morocco Marjane. Glovo thus continues its responsible commitment to support Moroccans during the confinement period, and now ensures home delivery of everyday consumer products from Marjane, such as fruit & vegetables, bakery, dairy products, groceries, and …

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S&P: Morocco preserves investment grade

S&P has just confirmed Morocco’s investment grade rating. The country keeps the rating “BBB- / A-3”, with a stable outlook. Moody’s had recently maintained the sovereign rating at Ba1-stable. Rating agencies believe in Morocco’s ability to rebound quickly after the health and economic crisis linked to the coronavirus. “The stable …

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Highways: Between 70% and 90% drop in traffic

The highway network has experienced a drop in traffic ranging from 70% to 90%, since March 25. The containment measures put in place by the government to fight against the coronavirus have brought down traffic on the highway network in Morocco. A drop ranging from 70% during the week to …

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FDI fell 19.5% at the end of February

The net flow of Foreign Direct Investments (FDI) reached MAD 2.21 billion at the end of last February against MAD 2.75 billion a year earlier, representing a drop of 19.5% year on year. This situation results from the drop in FDI receipts by 35.1% (or -2 billion dirhams), mitigated by …

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Moody’s maintains Morocco’s rating

The financial rating agency has renewed Morocco’s Ba1 rating with a stable outlook. “This rating reflects its demonstrated resilience to internal and external shocks, its access to relatively deep domestic financial markets and an economic transition to higher value-added export sectors,” said Moody’s. Like other countries, the Moroccan economy will …

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