Day: February 21, 2024

Prolonged drought and record temperatures have critical impact in the Mediterranean

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Severe and prolonged drought events have affected Europe for more than two years and northern Africa for six years, causing water shortages and hampering vegetation growth. Today the Commission’s Joint Research Centre (JRC) publishes its report Drought in the Mediterranean – January 2024 on the persisting droughts and their impact across the wider region. Long-lasting, above-average temperatures, warm spells and poor precipitation have led to severe drought conditions in the Mediterranean region, affecting numerous areas across southern Italy, southern Spain, Malta, Morocco, Algeria, and Tunisia. In the midst of winter, the ongoing drought…

Tunisia’s foreign currency reserves fall after eurobond repaid

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Tunisia’s foreign currency reserves fell on Monday by the equivalent of two weeks’ imports after the country repaid a foreign debt of 850 million euros ($915.28 million), according to central bank figures. This month, Tunisia’s parliament approved a government request for direct central bank financing worth 7 billion dinars ($2.25 billion), with the aim of repaying urgent foreign debts, including 850 million euros due on February 16. The central bank said on its website on Monday that foreign currency reserves had fallen to 23.058 billion dinars ($7.37 billion) by February…