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Africa may have a problem with unsustainable debt on its hands if it doesn’t manage to find other ways to finance development and cut off illicit financial flows, a new report from a United Nations trade body has said.
Current pace of borrowing will drive external debt over safe limits within two years; the government lost $100bn of investments at Sharm El-Sheikh conference, says Prime Holding economist
Poor financial planning, using loans in the wrong projects are the largest external debt problems
Egyptian economy sees insufficient growth to improve quality of living, while government required to increase its resources
For the first time in modern German history, the yield of the country’s benchmark 10-year debt – also known as Bund – has fallen below zero percent as investors rush to safety ahead of Britain’s Brexit referendum
Moody’s did not upgrade Egypt’s credit rating, but gave a positive outlook owing to stable short- and medium-term indicators
Puerto Rico has said it’s hoping to avoid some lawsuits against it after the US territory said it would not be able to pay back its debt. The government warned the money was needed to keep critical services functioning.
Beltone asserted that the pound’s devaluation and the increase in the return on treasury bills will increase investors’ confidence
After the EEDC, at least $8.3bn in loans has been agreed to by Egyptian ministries in different development sectors
The banks started to hold intensified meetings on Sunday morning to discuss the future of interest rates on the deposits and loans they handle.
Rate of increase in bank loans outstrips deposits for first time ever
One-year External Default Frequency for Egyptian government debt increased from 0.09% in early October to 0.18%
The released are non-political detainees, all charged with debt issues
Latin Americans and Asians are happy that they do not need the help of the International Monetary Fund (IMF). But, Europe can no longer function without it. What’s behind the IMF’s interest in Greece?
Egypt’s President Abdel Fattah Al-Sisi met with Helge Lund, the Chief Executive Officer of British Gas (BG), to discuss the company’s current activities in Egypt and its plans to increase its investments. The meeting was also attended by Petroleum Minister Sherif Ismail, according to an official statement by the presidency. The BG executive congratulated the …
Egypt repaid $670m to Paris Club in July, another payment of same amount is expected to follow in January
Government targets 9.9% budget deficit, 23% increase in revenues and a 5% GDP growth
High rate of public debt makes banks unable to fund budget deficit, which increases government’s will to fund deficit from abroad
Poverty rates are still high, especially in Upper Egypt
Decrease due to repaying facilities and loans, as well as fall back on value of most currencies of borrowing versus US dollar
Government was sluggish in launching new investment law, investors were not given enough time to do their homework, says former Finance Minister Samir Radwan
By Oxford Business Group Egypt has been making impressive progress in straightening up its balance sheet in recent months. Steep cuts in energy subsidies coupled with a drop in world oil prices have given the Middle East’s most populous country some fiscal breathing space, following three years of increasing budget deficits, mounting debt and …
Investment company seeking shift to profitability in 2016, expects to reduce debt to $260m by year end, down from $300m last year
Debts owed to foreign companies have plagued all governments since 2008
Shoukry underlines efforts made to enable Libyan government restore stability
The new package aims to revitalise and expand the activities of the private sector through removing the “bottlenecks” facing economic key sectors.
Prices jumped 1% for returns on treasury bills in the hours after central bank raised the interest rates by same amount
Delayed payment of debts to foreign partners threatens Egyptian gas production, says report
Dues owed to foreign oil companies reached a total of $6.3bn this July, compared to $6bn at the end of April, according to Tareq Al-Mula, president of the Egypt General Petroleum Corporation (EGPC). The government will pay at least $1.5bn of these receivables to these foreign companies by the end of the year 2014, according …