- Morocco to Host New Talks Between Libyan Delegations to Solve Crisis
The Morocco-assisted dialogue to solve the Libyan crisis is set to resume today Sunday, September 27, according to Anadolu Agency. Citing a member of the Libyan High Council of State, the report said the meeting aims to select a new presidential council. Members of the dialogue committee, representing the Tripoli-based Libyan High Council of State and the Tobruk-based House of Representatives, flew to Morocco on the 25th. “The members of the dialogue committee will discuss, during the negotiations, mechanisms for choosing who will assume leading positions,” wrote Anadolu Agency. The positions concern a new presidential council. The council consists of a president, two deputies, and a separate head of government.
- Morocco confirms 2,719 new coronavirus cases, more than 2,000 deaths in total on the 26th of September
2,719 new coronavirus cases were recorded in Morocco during the past 24 hours, bringing the total number of Covid-19 infections in the country to 115,241.
2,218 new recoveries were recorded in the past 24 hours, bringing the total number of recoveries in the Kingdom to 94,150.
43 deaths were recorded between yesterday and today, bringing the total number of deaths to 2,041. 18 of these deaths were recorded in the Casablanca-Settat region, 5 in the Oriental, 5 in Marrakech-Safi, 4 in Souss-Massa, 3 in Drâa-Tafilalet, 2 in the Rabat-Salé-Kénitra region, 4 in Fès-Meknes and 2 in Beni Mellal-Khénifra. The country has 19,050 active cases, including 274 in critical conditions. 40 of them are on ventilators.
- lCDG Invest, Abdelmoumen Group Aim to Boost Morocco’s Automotive Sector
Rabat –Group and CDG Invest signed on Wednesday in Rabat an investment contract aimed at acquiring an equity interest in the automotive business of Socafix, with an expected result of boosting Morocco’s automotive sector.
The contract, estimated at a budget of MAD 110 million ($11.9 million), concerns investment in the automotive activity of Socafix, a subsidiary of the Abdelmoumen Group.
The signing of the contract between CDG Invest and Abdelmoumen Group seeks to establish a partnership in the automotive sector to strengthen the presence of Morocco’s assets in the industrial fabric. It also aims to increase the rate of local integration.
- Morocco Proposes Two Investment-Grade Euro Bond Sales in 2020, 2021
Rabat – Morocco will issue two foreign currency convertible bonds (FCCB) in 2020 and 2021 to address a dramatic drop in foreign currency inflow. Credit rating agency Fitch has rated the proposed euro bonds as “BBB-.”This meaning Morocco retains its much-coveted investment grade rating. Morocco’s central bank, Bank Al Maghreb (BAM), expects its account deficits to stand at 6% of GDP amid an economic contraction of 6.3%.
In the meantime, Morocco will issue two new FCCB bond sales — one in 2020 and one in 2021. The upcoming Euro bond intends to help the country pay back a €1 billion bond that matures next month. In 2019, Morocco took advantage of low interest rates to issue its first bond since 2014.
The 2019 bond was intended to create 20,000 jobs according to Moroccan Minister of Finance and Economy Mohamed Benchaaboun.
- Boeing Official: Morocco’s Skilled Workforce a ‘Big Advantage’
Officials from the US Department of Commerce and aerospace giant Boeing welcomed Morocco’s investment reforms and skilled workforce during a virtual conference on the sidelines of the 75th UN General Assembly.
US Secretary of Commerce Wilbur Ross and the Regional Director of Boeing in Morocco, Douglas Kelly delivered the statements from Washington, D.C. to the Corporate Council on Africa (CCA).
- Bank Al-Maghrib Forecasts 22.4% Increase in Morocco’s Exports in 2021
Rabat – Morocco’s Bank Al-Maghrib has predicted an increase of 22.4% in Morocco’s exports in 2021.
The central bank said in a press release on the 24th of September 2020 that the expected increase will follow a global decline of 16.6% in exports this year.
An anticipated rise in automobile exports would result in the forecasted exports improvement, the bank explained. Imports of goods, however, are expected to shrink by 17.4% in 2020 before a predicted increase of 17% in 2021.
The central bank also forecast a sharp drop in travel revenues from MAD 78.8 billion ($8.5 billion) in 2019 to MAD 23.9 billion ($2.6 billion) in 2020.
- COVID-19 Cost Morocco’s Tourism Sector MAD 18.3 Billion By End of July
Rabat – The COVID-19 pandemic crisis caused Morocco’s tourism sector a loss of MAD 18.2 billion ($2 billion) in the first seven months of 2020.
The number represents a decline of 44.1% in revenue, according to the Directorate of Financial Studies and Forecasts (DEPF).
The new notice on the tourism sector’s status said that revenue decreased by 90.1% for July specifically.
Tourist arrivals and overnight stays registered at classified accommodations decreased by 63.5% and 59.1%, respectively, by the end of June. In August, DEPF reported a decline in tourism receipts by 33.2% in the first six months of 2020. The number represents a loss of MAD 11.1 billion ($1.2 billion).5)
In August, DEPF reported a decline in tourism receipts by 33.2% in the first six months of 2020. The number represents a loss of MAD 11.1 billion ($1.2 billion).
- Normalization Debate: End of Pan-Arabism or Birth of Arab Multipolarism?
Rabat – The Palestinian leadership’s resignation from its role as chair of the Arab League is set to re enter the ongoing normalization debate around the relevance or demise of pan-Arabism.
Palestinians expected a thumping statement of intent from any Arab state deciding to normalize ties with Israel. They expected and needed the type of statement that sums up the 2002 Arab Peace Initiative. That, while peace with Israel remains a possibility, it comes with a stiff price. That there should be no normalization while the West Bank is still under occupation.
- Morocco to Host New Talks Between Libyan Delegations to Solve Crisis
The Morocco-assisted dialogue to solve the Libyan crisis is set to resume today Sunday, September 27, according to Anadolu Agency. Citing a member of the Libyan High Council of State, the report said the meeting aims to select a new presidential council. Members of the dialogue committee, representing the Tripoli-based Libyan High Council of State and the Tobruk-based House of Representatives, flew to Morocco on the 25th.
“The members of the dialogue committee will discuss, during the negotiations, mechanisms for choosing who will assume leading positions,” wrote Anadolu Agency. The positions concern a new presidential council. The council consists of a president, two deputies, and a separate head of government.
- Tourism Professionals to Establish Recovery Plan for Tourism in Agadir
Tourism professionals of Morocco’s southern region of Souss-Massa held a meeting on Thursday in Agadir to establish a recovery plan for tourism in the region.
Tourism professionals decided to act in collaboration with local authorities to help recover the tourist economy through a series of votes, according to the Regional Council of Tourism (CRT) in Agadir.
These actions include calling for the opening of aerial borders in total compliance with the preventive measures against COVID-19, attracting both national and international tourists, as well as reopening beaches. Agadir is the first seaside destination in Morocco. Over the years, the city has become a prized international destination for surfing.
