Financial and Banking News
AMF Lends North Yemen and Morocco $22mn
The Arab Monetary Fund (AMF) has agreed to lend $21.9mn to North Yemen and Morocco, according to two agreements signed last week. North Yemen will receive $11.5mn and Morocco $10.4mn. The loans are to help the two countries' balance of payments deficit, and are repayable over three years at an annual interest rate between 3.752 and 4.75%.