La Libra, Facebook's digital currency, announced for 2021 in reduced format

The launch of Facebook's digital currency, Libra , could take place in 2021. The project may benefit from favorable factors in the global economy, but regulators will have to be convinced first.  Facebook could launch Libra, its digital currency in 2021, we learn from the British media Financial Times, which quotes people close to the process. The product is expected to arrive in a limited version, after the project has met with great aversion from regulators, including in the United States, the country where the headquarters of the social media management company are located. The stakeholder association behind this digital currency project is now planning to launch a single version of Libra that will itself be pegged to the dollar, at the rate of one unit of US currency for each Facebook digital currency . “The other forms of currencies will be deployed at a later stage,” the FT source added. The exact launch date will depend on when the project

Final preparations for Zleca

A few months before the entry into force of the Free Trade Area of ​​the African Continent (Zleca), parliamentarians are busy. Morocco has acceded to it. Thus the President of the House of Representatives hosted a meeting of the Standing Committee on Customs and Immigration and that dedicated to transport and industry of the Pan-African Parliament yesterday in Rabat.
 


During his speech, Habib El Malki stressed the need to accelerate the pace of regional economic integration.

It is the natural setting that will make this African free trade area progressively a concrete reality, at the service of the people. However, he deplores the current situation on the continent: while Africa abounds in wealth and diversified natural resources, its position and yield remain modest in comparison with the performances recorded in other commercial zones.

Indeed, Africa does not exceed 2% of international trade and during the period of 2015-2017, African trade achieved only 760 billion dollars, compared to the 4.110 billion dollars of Europeans and 5.140 billion of American dollars. But Africa could have achieved 33% of trade between the countries of the continent if the free trade area had been carried out as planned.

Moulay Hafid Elalamy, who made the trip to Parliament, agrees. For him, the leaders are convinced that the continent's development must necessarily go through the opening and integration of African markets. The objective is to make trade a real vector of economic growth and a lever for improving the income of the African citizen. Africa is a large market which is full of significant human and material potential.


However, it is clear that it remains fragmented into small national markets for the most part. For him, African economic integration is the best choice for creating shared growth, decent jobs and economic opportunities for all social strata. It is the only way to preserve peace and stability in the various regions of a continent plagued by civil war, terrorism and drug trafficking.

According to Mohcine Jazouli, Minister Delegate in charge of African Cooperation, with the advent of this free trade area, it is not only internal development in Africa that will be impacted, but the place of the continent in international.

For him, Zleca is an opportunity for Africa as evidenced by the various estimates. Thus, that of the UNCTAD is clear. In fact, according to the assessment of this UN trade and development body, the transition phase of this FTA alone will generate $ 16 billion.

In addition, for the Minister of Industry and Trade, Morocco attaches great importance to the involvement of African business communities in the Zleca process and the constitution of an African common market.

On this occasion, he welcomed "the actions carried out by the African Union, aimed at supporting private operators and civil society with the advent of the African zone. We remain convinced that the multiplication of meetings to sensitize the African business communities on the importance of Zleca is necessary for successful integration of our markets, "underlined the minister who enumerated the obstacles raised for fluid exchanges.

Studies on the continent’s economy, for example, have revealed that “intra-African trade faces 100 land borders, not to mention the difficulties of transporting goods between African countries by sea.

“These difficulties mean that trade between our African countries does not exceed 16% of the total volume of trade on the continent with the rest of the world. This is forcing Africa to lose important opportunities for growth and jobs, "he said.


The achievement of continental free trade, scheduled for next July, is one of the first steps to address the lack of trade. With Zleca, Africa will consolidate a potential market of 1.3 billion consumers and achieve a combined GDP of $ 2.5 billion.

For Moulay Hafid Elalamy, "the lifting of tariff and non-tariff barriers between our countries, could also generate gains of around $ 3.6 billion across the continent thanks to an increase in productivity and a rise in the chains of value".

For him, if Zleca already constitutes a new support for the structural transformation of the African economy, the fact remains that efforts must be directed more towards the development of complementarities between regions from Africa.

"We must encourage the expansion of our businesses at the African level and support partnership projects allowing an upmarket of our products for export," insisted the Minister of Industry and Trade. He also called for "adapting our industrialization policies with the objectives of" made in Africa ", to constitute an integrated African market, capable of achieving the economic and social development of the continent, as defined by Agenda 2063" .