NewsNorth Africa

Sat,21Jul2018

North Africa

IMF credit to Chad delayed over Glencore oil debt

Negotiations are likely to be further delayed after President Idriss Deby sacked his Finance Minister Christian Georges Diguimbaye and the deputy. In this photo, President Deby is shown in N'Djamena, Chad, Wednesday, April 20, 2016. Photo: Andrew Harnik/AP/SIPAChad's stalled talks with Glencore on restructuring more than $1 billion in debt due to the trading firm has delayed the release of IMF funds for the struggling central African country until at least early next year, sources familiar with the matter said.

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Tunisia's trade deficit rises to a record $5.28 billion

Tunisia's prime minister Youssef Chahed attends a press conference  at the Elyse Palace in Paris, France, Nov. 10, 2016. Photo: Francois Mori/AP/SIPATunisia's trade deficit widened by 23.5 percent year-on-year in the first 10 months of 2017 to 13.210 billion dinars ($5.28 billion), a record level, the State Statistics Institute said on Friday.

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Egypt's Carbon Holdings aims to start building Tahrir petrochemicals project by June

Egypt first anniversary of launching the New Suez Canal and 60th anniversary of nationalizing Suez Canal in Ismailia, Egypt August 6, 2016. Photo: Egyptian P.O/Apimages/SIPAEgypt's Carbon Holdings aims to finalise funding and start building its massive Tahrir petrochemicals project by June, producing raw materials desperately needed to boost the country's industrial sector, its chief executive told Reuters.

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IMF says Morocco ready for currency reform, but delay 'not a problem'

The now Prime Minister of Morocco, Saad Eddine El Othmani, addresses the media in Berlin, Germany, Nov. 23, 2012. Photo: Michael Sohn/AP/SIPAMorocco's macroeconomic indicators indicate the country is ready to introduce a flexible exchange rate, but delaying the introduction is "not a problem", the International Monetary Fund said on Monday.

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Kenya's purple shoots of progress

rsz purple tea

As a drought wreaks havoc on agricultural output across the country, Kenya is trying to boost production of drought-resistant crops like purple tea.

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Libya's Sharara oil field reopens after strike: National Oil Corp

In this 2011 photo, a Libyan oil worker, works at a refinery in Brega, eastern Libya. Photo: Hussein Malla/AP/SIPALibya's major Sharara oil field has reopened after a workers' protest and should return to normal production within three days, the National Oil Corporation said in a statement early on Friday.

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