Financial and Banking News
AMF Lends Morocco and Mauritania $43.35mn
The Arab Monetary Fund (AMF) has agreed to lend Morocco $31.55mn and Mauritania $11.8mn, according to agreements signed last week. Morocco will receive two loans, $22.5mn to support the country's financial recovery program and $9.5mn to finance trade with other Arab states. Mauritania's loan of $11.8mn is intended to offset the deficit in its balance of payments.