I (Nile News TV 27/10) i Media Reaction Egyptian media outlets reacted to the government's decision to increase key interest rate by 2%, as well as its deal to get a fresh loan from the IMF and other international organisations. B The deal is accompanied by a further currency ...
CAIRO, July 27 (Xinhua) -- Egyptian Prime Minister Sherif Ismail said Wednesday that Egypt will negotiate with a delegation coming from the International Monetary Fund (IMF) getting a 7 billion U.S. dollars loan per year for three years, state-run Al-Ahram news website reported. "The IMF ...
Egypt Discusses IMF Loan amid Fuel ShortagesEgypt's leaders were under increasing strain last night as a fuel shortage heaped pressure on the battered economy and officials met with world finance chiefs to discuss a multi-billion dollar development loan.Beach, Alastair...
Cairo is expected to receive the new disbursal very soon, said Chris Jarvis, the IMF's mission chief for Egypt. Egypt agreed a three-year, 12 billion dollars IMF loan program in November that is tied to ambitious economic reforms such as subsidy cuts and tax hikes. Egypt received an init...
12 -- There is an atmosphere of optimism about the Egyptian economy as the International Monetary Fund (IMF) has approved a 12 billion U.S. dollars loan to Egypt and Standard and Poors has revised its sovereign credit outlook from "negative" to "stable," Egyptian prime minister said at an...
security, and policy environment since 2011 has restricted economic growth and failed to alleviate persistent unemployment, especially among the young.In late 2016, persistent dollar shortages and waning aid from its Gulf allies led Cairo to turn to the IMF for a 3-year, $12 billion loan program...
He added that Egypt is negotiating with the IMF to get a new loan at about $5 - 6 billion. He noted that the Egyptian health system was doing well in confronting the pandemic, but this loan will offer needed support for the health sector and the social security nets. ...
Egypt’s recent loan from the International Monetary Fund (IMF), of US$ 12billion, should ease the implementation of socially sensitive structural reforms, including the introduction of a value-added tax of 13%. The first installment of US$ 2.75billion was made available to Egypt’s government...
The report comes after Egypt's government and the IMF reached a staff-level agreement on necessary policies and reforms to complete the first and second reviews under the Extended Fund Facility (EFF) arrangement. The IMF loan has been increased to $8 billion from the initial $3 billion,...
Egypt officially turns to the IMF for a loan to cover a government deficit expected to reach 10% of GDP next year.