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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
A vital autumn for Cairo’s policy-makers
Egypt has recently been the subject of a number of deeply unflattering articles in the international business media. Many criticisms have been levelled at the actions, and inaction, of Cairo’s economic policy-makers. These criticisms have not made many friends in Egypt—so I do not propose to repeat them. I also think that, like much …
Approval of the VAT is a historic achievement: IMF
Change in national tax code will affect all portions of society, unless explicitly exempted
Optimism amid crackdown on informal market stabilise unofficial currency exchange pool: Banker
Trading currency is becoming difficult and the price is seeing large variation due to the embargo on the currency mafia, says Abdel Aal
Egypt sees opening to become largest African economy
Though the top three seem to be in a constant back and forth, Egypt’s future growth prospects put it in a better position than the current continental leaders
Establishing companies through IPO takes over amid government trend of financing through EGX
Government demands that it benefit from the exceptions made by the EGX in 2014 regarding launching companies established through IPO, especially in the infrastructure and agricultural sectors
EFIA supports IMF loan, says not enough
IMF loan needs to be facilitated, supported with economic reforms, such as increasing taxes, activating VAT policy, collecting old taxes, says Khamees
The IMF loan: a possible success or failure?
Some people adopt points of view based on a somewhat ideological basis. At the moment, some people either accept or refuse the idea of obtaining a loan from the International Monetary Fund (IMF), despite many countries having made good use of their loans—though some have not. While writing this article I discovered that Al-Youm Al-Sabea …
The Economist’s biased reports will not affect IMF deal: economists
Al-Sisi has gone “beret in hand” to the IMF for a $12bn bailout, says The Economist
International pressure builds on Egypt to liberalise exchange rate
A floating exchange rate is likely in Egypt’s future due to pressure from the IMF and the looming prospect of a Federal Reserve interest rate hike later this year
Daily News Egypt reveals negotiation points between IMF, Egypt over $12bn loan
Allowing the Egyptian pound’s exchange rate to move both directions based on supply and demand and deciding a timetable for the implementation of reforms under the fund’s supervision are among the topics to be negotiated
IMF loan best solution for Egypt at the moment: banking leaders
Egypt needs this particular loan in light of the suffering economy, says El-Qosayer