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IMF ready to support Egypt: Lagarde
Lagarde says Economic Summit succeeded in attracting agreements and contributions
UAE’s Al-Jaber: IMF keen on beginning Egyptian development programme
IMF Managing Director Christine Lagarde had noted in her speech during the summit that “some of the right policies are already in the government’s plans”, stressing the importance of “designing them right, and to make them hold”.
None of $142.2bn summit investments go to Suez Canal Axis
The housing, transportation, petroleum, tourism, and investments sectors won the largest of this amount, but no statement has been made regarding Suez Canal Axis investments.
Prosperity amidst turmoil, Egypt sees some light
By Ahmed El-Wahsh With the inauguration of President Abdel Fattah Al-Sisi to the presidential palace, one of the key highlighted sectors that needed up turning and nutriment was Egypt’s economy. On 11 February, the International Monetary Fund (IMF) announced that it had started witnessing a “turnaround” to the Egyptian economy, eight months into Al-Sisi’s reign …
Egypt has not requested financing, but we would consider request: IMF Mission Chief
By Abdelrahman Youssef Daily News Egypt sat down with the International Monetary Fund’s (IMF) Mission Chief in Egypt, Chris Jarvis, to discuss the Egyptian economy and IMF recommendations in that regard as well as how political stability influences economic growth. Will Egypt still need financial support in the future or are the IMF’s recommendations for economic reform …
Economy remains vulnerable given security risks: IMF
IMF executive directors welcome Egypt’s economic reform policies
Economy remains vulnerable given security risks: IMF
IMF executive directors welcome Egypt’s economic reform policies
Investment bank sees higher GDP growth after ‘positive change’
Egyptian asset management, corporate finance and investment banking firm, Cairo Financial Holding (CHF), has raised its growth forecasts for Egypt’s GDP. The firm said that in the current fiscal year, GDP will be 3.7%, up from its 2.8% predictions in June 2014, as it noted increased foreign direct investment (FDI) and government measures towards bolstering …
Business sector unready for privatisation, restructuring to take place: Investment minister
Investment ministry hopes to restructure business sector in preparation for tender operations on stock market, bringing them out of the red
Government plan to attract foreign investments requires stable security situation: Economists
Government is working to improve the business sector to fight slow economic growth, decrease unemployment and improve quality of life through basic economic reform
Egypt rises 20 points on transparency, anti-corruption ranking
Egypt’s ranking improved in the Corruption Perceptions Index to 94th place in 2014, up from 114th last year
Economic analysts agree with IMF report on Egypt’s economic status
Analysts request to amend monetary policy and take precautions with mega-projects in light of current circumstances
Egypt economy recovering after 4 years of slow activity: IMF mission chief
“There is growing national consensus on the need for economic reform”, says Chris Jarvis
Growth rate rises with 6.8% in first quarter alongside IMF visit
El-Araby expects positive IMF report mid-January following recent package of economic reforms
Egypt and its FDI prospects
By Omar El-Shenety No doubt that Egypt has witnessed very rough years since the 25 January Revolution. The economy has been brought to its knees, and now faces stagnation. Growth has stopped at 2% since the revolution, and the government budget deficit scored record levels. Tourism and Foreign Direct Investment (FDI), key sources for foreign …
12.5% deficit in FY 2013/2014 budget, financing gap valued at EGP 10-11bn: Finance minister
CBE’s temporary ‘financial’ account is strategic reserve and will not be used to solve budget deficit
Egypt to invite IMF to assess economic reforms
Ministry of Finance says government will invite IMF before Egypt’s economic summit in February 2015
New ‘quartet committee’ to regulate financing and implementation of Suez Canal project
Government seeks to complete the development of the Suez Canal on schedule within its efforts to increase resources and reduce unemployment
Food crisis in Cameroon
The country ranks 150 out of 186 countries on the 2013 UNDP’s Human Development Index, which measures countries based on income, life expectancy and education.
Investment in economically viable projects enhances short-run growth: Economist
Economist writes in report published on IMF website that sustainable and inclusive growth requires both short-term and long-term measures
Government unlikely to succeed in price control efforts: Former IMF official
Government cutting energy subsidies, preparing diesel and gasoline price increases, likely to exacerbate suffering of 26% of Egyptians under poverty line
Government to adopt new economic stimulus package
Minister of Finance says package would focus on industry, housing and construction, communication and tourism sectors
Egypt still in need of financial assistance: International Monetary Fund
Financial aid could come from Gulf countries, the IMF or other financial institutions, says IMF’s chief of mission in Egypt
IMF’s Egypt strategy ill-suited to realities on the ground: ECESR
Regional economic experts say fund’s demands for near-term subsidy cuts not viable
G20 vows to add $2tn to world economy to lift growth
US Treasury Secretary Jack Lew stressed at a press conference that the G20 had left the austerity debate behind and was fully focused on growth.
IMF delegation to visit Egypt in January
The delegation will resume talks about Value Added Tax draft law
IMF reaffirms support for Egypt amid criticism from CBE governor
William Murray, the deputy spokesman at the IMF could not expound on the topic but asserted that the IMF’s relationship with Egypt remains strong.
IMF studies Egypt’s economy and development
IMF: The political uncertainly Egypt underwent has clouded the economic outlook and impacted the policy performance.
Egypt cuts IMF delegation in political protest
PM Hazem El-Beblawi says negotiations are ongoing over whether IMF will recognise current government
Finance minister promises no new taxes
Galal announced that no property taxes or income taxes would be modified “in order to not harm the economy.”