Rédaction Africa Links 24 with L’Opinion
Published on 2024-03-08 12:51:00
In the African and Arab economic landscape, Morocco is emerging as a beacon of financial stability, with some of the lowest interest rates in the region. According to data from “Trading Economics,” the Kingdom is on par with Libya and Algeria, with an interest rate of 3%.
In Africa, Morocco ranks fourth among countries with the lowest interest rates, demonstrating a prudent management of its monetary policy. However, while Morocco maintains a stable trajectory, other Arab and African countries are facing significant financial challenges.
Egypt, Sudan, and Yemen are among the top ten countries in the world with the highest interest rates. Yemen tops this list with an astonishing interest rate of 27%, followed closely by Sudan at 28.3% and Egypt at 27.25%.
Egypt, in particular, has been forced to take drastic measures to contain soaring inflation and support its depreciated currency. A significant increase in the interest rate to 27.25% aims to stabilize an economy shaken by persistent challenges.
However, these countries are not alone in their struggle against high interest rates. Mauritania, Tunisia, Lebanon, Jordan, and Iraq also face exorbitant rates, reflecting the major economic challenges many Arab countries are facing.
On a global scale, Zimbabwe holds the record for the highest interest rate at a staggering 130%, followed closely by Argentina and Venezuela. Even within the G20, countries like Argentina and Turkey have high rates, while Japan stands out with a negative rate, illustrating the diversity of global monetary policies.
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