JP Morgan: Trump win could boost emerging market stocks in Middle East and North Africa
The immediate financial effects of Donald Trump's election win included a surge in U.S. stocks, a stronger
The Moroccan government has announced plans to spend 2.5 billion dirhams ($260 million) on relief efforts in the wake of devastating floods hit the southeast of the country last month, Reuters reports. The resulted in the deaths of at least 28 people and caused widespread damage to infrastructure, including the destruction of roads and homes.
The relief plan includes financial aid for rebuilding efforts, with the government providing 80,000 dirhams to homeowners whose houses were partially demolished and 140,000 dirhams for those whose homes were destroyed completely. Additionally, the plan will focus on repairing damaged infrastructure and providing support to affected farmers in the region.
Separately, the government announced that it will continue offering monthly cash assistance of 2,500 dirhams to 60,000 households impacted by the September 2023 earthquake in the High Atlas Mountains. This aid will last for the next five months. To date, only 1,000 of the 57,000 damaged homes have been rebuilt.
Sign up for the weekly newsletter and get our latest stories delivered straight to your inbox.