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How can Egyptians reap fruits of economic reform?

Egypt embarked on a bold economic reform programme that included the pound flotation, a reduction in fuel and electricity subsidies, imposing taxes including the value-added tax (VAT), all with the aim of trimming the budget deficit.

Nihal Samir

Egypt reaps rewards of structural reforms: OBG

Noteworthy, Egypt has been implementing economic reforms as part of a $12bn three-year programme agreed with the International Monetary Fund (IMF) in November 2016, including the cuts to energy subsidies and pound floatation, as well as the introduction of the value-added tax.

Nihal Samir

IMF fourth review confirms economic programme on right track: Pharos

Pharos Holding For Financial Investments issued a report commenting on the International Monetary Fund’s (IMF) fourth review of Egypt’s economic reform programme, stating that the programme is broadly on right track. All of the June and December 2018 performance criteria and indicative targets were fully met, with the exception of June’s target on public debt. …

Nihal Samir

IMF has always helped countries during economic difficulties: Lagarde

Washington DC– IMF has helped the countries through their economic difficulties, said Christine Lagarde Managing Director of the International Monetary Fund (IMF) on Wednesday. Lagarde added that after 75 years of cooperation since the IMF was established systems have changed and adapted from exchange rates of currency to the gold standards system in 70th to reform …

Shaimaa Al-Aees

Egyptian economy growing at very reasonable rate: IMF

Washington DC – Gian Maria Milesi-Ferretti, the deputy director in the Research Department of the International Monetary Fund (IMF), told Daily News Egypt that Egypt’s economy is doing well as it is growing at a very reasonable rate. Milesi-Ferretti noted that, however, it was a difficult moment for emerging markets earlier in 2018 due to capital …

Shaimaa Al-Aees

Egypt’s economic growth to record 5.5% in 2019: IMF

Washington, DC – Egyptian economy will grow by 5.5% this year, the International Monetary Fund (IMF) said in its World Economic Outlook (WEO) April 2019, unchanged from its expectations in October 2018. Further, the IMF expected that the country’s economic growth will reach 5.9% in 2020. However, Egypt’s economic growth forecast was estimated at 6% in …

Shaimaa Al-Aees

Finance Minister Mohamed Moeit

IMF approves $2bn loan tranche to Egypt: Minister of Finance

The Executive Board of the International Monetary Fund (IMF) approved the disbursement of $2bn to Egypt as the fifth tranche of its $12 loan, the Minister of Finance, Mohamed Moeit, announced on Monday. So far, Egypt has received $10bn from the extended $12bn loan facility signed in 2016. Moeit said that Egypt is expected to …

Daily News Egypt