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Egypt must tackle inflation risks: Lagarde
“Other reforms have to continue, but there has to be a special focus on inflation,” says the IMF’s managing director
IMF delegation to review Egypt starting April 28: El-Garhy
IMF to complete their review of the programme in June this year, before releasing the 2nd tranche
The Pound losing ground despite rising stock prices
In November, the Egyptian administration floated the Egyptian pound to secure a loan from the International Monetary Fund (IMF)
Any delays of the IMF’s conditions might negatively affect Egypt: Tawfik
To measure the progress achieved by the Egyptian government, the International Monetary Fund (IMF) is scheduled to pay a visit to Egypt in April. Through this visit, the IMF’s delegation will decide whether or not Egypt would be entitled to receive the second part of the $12bn loan’s first tranche. But what if the delegation …
Egypt is making good progress in the loan programme, IMF
Christine Lagarde, head of the International Monetary Fund (IMF), said on Monday that Egypt is making good progress in the $12bn loan programme, noting that the currency is likely to stabilise after months of depreciation. Lagarde said in an interview during a visit to Dubai that the IMF sees good, noticeable progress by the Egyptian …
Egypt approves publishing details of $12bn loan next week: IMF
A technical delegation from the fund is in Egypt to follow up on the implementation of the economic reform programme this week, says government sources
Loan conditions do not include increasing customs tariffs: IMF
Increasing customs duties on imports is not the optimal policy for improving the payments balance, says Rice
UK supports Egypt in achieving its full economic potential
The British Embassy in Cairo released on Monday parts of the UK statement during the International Monetary Fund (IMF) board discussions on 11 November. The statement noted that the UK played a vital role in the IMF’s decision, as a founder and important contributor to the fund. The statement noted that the UK congratulates the …
IMF approves $12bn loan: what’s next for Egypt’s economic reform programme?
These reforms aren’t easy but they will unleash the potential of Egypt’s economy and serve its people, says IMF managing director
Will Egypt follow the example of Brazil or Argentina in dealing with the IMF?
Following the implementation of all of the International Monetary Fund’s (IMF) preconditions for the three-year, $12bn loan Egypt is bent on receiving, the government submitted a letter of intent to the IMF executive board two days ago. A letter of intent outlines one or more agreements between the two parties before the conclusive agreement is …
IMF to decide on fate of Egypt’s $12bn loan Friday: CBE governor
The executive board of the International Monetary Fund (IMF) is set to hold a meeting on Friday, 11 November, to discuss, review, and decide on Egypt’s request for a loan of $12bn over three years, according to a press release from the Central Bank of Egypt (CBE).
Increased cash support for subsidy cardholders is not enough: expert
Egypt floated its currency on Thursday, allowing it to fall from its previous peg of EGP 8.88 to the US dollar to between EGP 13 and EGP 16. This is the final push to secure the three-year International Monetary Fund (IMF) programme within days. In another step toward securing $12bn from the IMF, the government …
Egypt obtains pledges worth $16.3bn for financing economic reforms during FY 2016/2017
Tarek Amer said that those countries include seven leading industrial countries and Arab countries, in addition to the IMF
Remainder of $6bn in additional funds to be secured in 2 weeks to guarantee IMF loan: El-Garhy
Minister of Finance Amr El-Garhy announced on Monday that Egypt will secure an additional $6bn from foreign institutions to guarantee the agreement for a $12bn loan from the International Monetary Fund (IMF) over a two-week period. In August, the IMF initially agreed to grant Egypt a $12bn three-year loan to support the government’s economic reform …
Egypt cannot afford to postpone the IMF loan: expert
During his meeting with the editors-in-chief of national newspapers on Friday, President Abdel Fattah Al-Sisi talked about the loan that Egypt is seeking from the International Monetary Fund (IMF). This was the first time that the president tackled the country’s negotiations with the IMF, as he ensured that economic reforms will be implemented and …
Government focused on reprioritising public spending to ensure efficiency: El-Garhy
Investors, representatives of the international business community showed interest in Egypt’s international bond issuance
The 3-week challenge: the IMF’s tricky homework for Egypt
When the people of Egypt heard that the government was willing to take a loan from the International Monetary Fund (IMF), they didn’t think that the government had decided to walk down a hard, tiring path. They didn’t know that Egypt would apply austerity measures that would affect their lives, by cutting its subsidies for …
Making currency exchange price more flexible is essential part of government’s programme: IMF
Egypt pledged to obtain half of bilateral funds and negotiations are ongoing, says Jarvis
IMF must evaluate Egypt’s reforms before releasing loan’s 2nd tranche: Lagarde
“The IMF needs to evaluate the economic reforms of the Egyptian government,” said the IMF managing director
Egypt struggles to implement IMF’s conditions before board meeting
The foreign exchange reserves registered $19.59bn in September, an increase of 18.2% compared to August, says the CBE
IMF policies designed for short-term relief will have adverse long-term effects: ECESR
While the IMF and World Bank loans’ policies are questioned by ECESR, they have been encouraged by chartered financial analysts
Social protection programmes target poorest 10% of the population: Ghada Wali
We are studying ways with the Ministry of Finance to increase the number of beneficiaries of the dignity and solidarity programme, says Social Solidarity Minister
Train of tax reform stops in the middle of the trip
Intense focus on the issues associated with the programme presented to the IMF at the expense of the rest of aspects
Egypt secures required finances to obtain IMF loan
Egypt will release dollar bonds at an interest rate of 6-6.5% by the end of October
IMF agreement to pave way for economic reform: CI Capital deputy CEO
Another devaluation of the Egyptian pound will be necessary to reflect its true value post-IMF deal
The currency’s devaluation is imminent: CEO of NI Capital
Most of economic experts agreed that the exchange rate will be EGP 11.5-12 to the US dollar
Negotiations with IMF are fruitful, first portion to be provided before year’s end: Finance Minister
VAT in FY 2016/2017 will render the state EGP 20bn and EGP 32bn in FY 2017/2018
Rasmala Group’s AUM stood at $1.1bn in December 2015: group chief executive
Rasmala to expand real estate business in the Middle East and other international markets
Egyptian economy has enough resources, potential to become among world’s most powerful economies: AIB chairperson
We are optimistic about the future of the Egyptian economy, especially following the government’s recently-adopted reform measures, says Seif Al-Nasr
Egypt would profit with social progress
Annual report of Social Progress Index for 2016 released in an attempt to redefine development indicators from a strictly economic approach