One year on, Morocco’s quake victims still wait for homes

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A view shows a damaged building in Moulay Brahim village, following a powerful earthquake in Morocco, September 9, 2023. (REUTERS)
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A resident cries amid ongoing search operations in the village of Imi N'Tala on September 17, 2023, following the powerful 6.8-magnitude earthquake. (AFP)
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Updated 03 September 2024
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One year on, Morocco’s quake victims still wait for homes

  • The 6.8 magnitude earthquake, Morocco’s deadliest since 1960, struck on Sept. 8, 2023, killing more than 2,900 people and damaging vital infrastructure

RABAT: A year after Morocco’s devastating earthquake in the High Atlas mountains only some 1,000 homes out of 55,000 under reconstruction have been rebuilt, according to government figures, as thousands continue to live in tents under extreme heat in summer and freezing cold in winter.
The 6.8 magnitude earthquake, Morocco’s deadliest since 1960, struck on Sept. 8, 2023, killing more than 2,900 people and damaging vital infrastructure. It destroyed many hamlets with traditional mud brick, stone and rough wood houses, specific to the Amazigh-speaking Atlas mountains.
Last week, locals at the quake’s epicenter Talat N Yacoub protested over the slow pace of reconstruction, demanding more transparency in aid distribution and more investment in the impoverished area’s infrastructure and social services.
So far 97 percent of households are receiving gradual government reconstruction aid, the prime minister’s office said in a statement, adding that 63,800 quake-hit families are receiving a monthly state handout of 2500 dirhams ($255).
Overall, Morocco plans to spend 120 billion dirhams on a post-earthquake reconstruction plan that includes the upgrade of infrastructure over the next five years.
Economic losses from the quake accounted for 0.24 percent of Morocco’s GDP in 2023, or 3 billion dirhams, according to a study by the Policy Center for the New South.

 


Syria’s growth accelerates as sanctions ease, refugees return

Updated 06 December 2025
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Syria’s growth accelerates as sanctions ease, refugees return

  • Economy grows much faster than World Bank’s 1% estimate, fueling plans for currency’s relaunch

NEW YORK: Syria’s economy is growing much faster than the World Bank’s 1 percent estimate for 2025 as refugees flow back after the end of a 14-year civil war, fueling plans for the relaunch of the country’s currency and efforts to build a new Middle East financial hub, central bank Governor AbdulKader Husrieh has said.

Speaking via video link at a conference in New York, Husrieh also said he welcomed a deal with Visa to establish digital payment systems and added that the country is working with the International Monetary Fund to develop methods to accurately measure economic data to reflect the resurgence. 

The Syrian central bank chief, who is helping guide the war-torn country’s reintegration into the global economy after the fall of Bashar Assad’s regime about a year ago, described the repeal of many US sanctions against Syria as “a miracle.”

The US Treasury on Nov. 10 announced a 180-day extension of the suspension of the so-called Caesar sanctions against Syria; lifting them entirely requires approval by the US Congress. 

Husrieh said that based on discussions with US lawmakers, he expects the sanctions to be repealed by the end of 2025, ending “the last episode of the sanctions.”

“Once this happens, this will give comfort to our potential correspondent banks about dealing with Syria,” he said.

Husrieh also said that Syria was working to revamp regulations aimed at combating money laundering and the financing of terrorism, which he said would provide further assurances to international lenders. 

Syria’s central bank has recently organized workshops with banks from the US, Turkiye, Jordan and Australia to discuss due diligence in reviewing transactions, he added.

Husrieh said that Syria is preparing to launch a new currency in eight note denominations and confirmed plans to remove two zeroes from them in a bid to restore confidence in the battered pound.

“The new currency will be a signal and symbol for this financial liberation,” Husrieh said. “We are glad that we are working with Visa and Mastercard,” Husrieh said.