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Egypt’s ranking improved in the Corruption Perceptions Index to 94th place in 2014, up from 114th last year
Analysts request to amend monetary policy and take precautions with mega-projects in light of current circumstances
“There is growing national consensus on the need for economic reform”, says Chris Jarvis
El-Araby expects positive IMF report mid-January following recent package of economic reforms
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 …
CBE’s temporary ‘financial’ account is strategic reserve and will not be used to solve budget deficit
Ministry of Finance says government will invite IMF before Egypt’s economic summit in February 2015
Government seeks to complete the development of the Suez Canal on schedule within its efforts to increase resources and reduce unemployment
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.
Economist writes in report published on IMF website that sustainable and inclusive growth requires both short-term and long-term measures
Government cutting energy subsidies, preparing diesel and gasoline price increases, likely to exacerbate suffering of 26% of Egyptians under poverty line
Minister of Finance says package would focus on industry, housing and construction, communication and tourism sectors
Financial aid could come from Gulf countries, the IMF or other financial institutions, says IMF’s chief of mission in Egypt
Regional economic experts say fund’s demands for near-term subsidy cuts not viable
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.
The delegation will resume talks about Value Added Tax draft law
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: The political uncertainly Egypt underwent has clouded the economic outlook and impacted the policy performance.
PM Hazem El-Beblawi says negotiations are ongoing over whether IMF will recognise current government
Galal announced that no property taxes or income taxes would be modified “in order to not harm the economy.”
The global lender said all discussions are being held with the technical team from the Central Bank of Egypt and the Ministry of Finance
The report predicted that annual inflation rates would increase by the end of this year to 10.8%, compared to 8.4% in the previous fiscal year
Egypt’s Central Bank decided to keep overnight deposit and lending rates unchanged at 9.75% and 10.75%, respectfully
The prospectus tasked HSBC Holdings and QNB Global with the rights to organise and administer the programme
Accepting the International Monetary Fund loan in Egypt means testing the public’s willingness to endure a harsh economic climate
The IMF expected Egypt’s GDP to grow 2% over the next year as opposed to 2.2% in 2012
Online initiative helps women entrepreneurs gain access to financing
“We are in a better place but… we’re not out of the woods,” said Olivier Blanchard, IMF chief economist
Party suggests delaying economic reform programme for one year, tells IMF they ‘do not trust government’
Al-Wafd Party chairman calls for replacement of the prosecutor general and the formation of a new government before elections and dialogue