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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 …

Hisham Salah

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 …

Hisham Salah

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 …

Hisham Salah

Richard Banks

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 …

Richard Banks

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 …

Moataz Bellah Abdel-Fattah