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 (AP) — The International Monetary Fund reached a preliminary agreement with the Egyptian government Thursday that paves the way for the economically troubled Arab nation to access a $3 billion loan, officials said Thursday. IMF officials said a staff agreement between the Egyptian government ...
compared to 3.8% per annum from 2012 to 2017. Its unemployment rate dropped from 12.9% in 2015 to 7.2% in 2023. However, high inflation and depreciation of the Egyptian Pound continue to pose risks for the Egyptian economy, as the IMF projects 32.5% inflation for 2024, while the Egyptian ...
Egypt may be walking towards a much-needed IMF loan, but that hasn’t put off some foreign partners. GB Auto, the Cairo-listed auto assembler(汽车组装公司), will begin putting together and selling cars from China’s Geely in the second quarter of 2012. GB will assemble the cars from kit...
led Cairo to turn to the IMF for a 3-year, $12 billion loan program. To secure the deal, Cairo floated its currency, introduced new taxes, and cut energy subsidies - all of which pushed inflation above 30% for most of 2017, a high that had not been seen in a generation. Since ...
"Egypt received 2 billion dollars from the IMF on Tuesday evening as the fifth tranche of the loan after the approval of IMF board that praised the progress made by Egypt in implementing the economic reform program," an unnamed CBE official told state-run MENA news agency. ...
Governor of the CBE Tarek Amer announced on Thursday that negotiations on a 12 billion U.S. dollars loan with the IMF have succeeded, which would help reactivate the North African country's staggering economy. Amer added that the three-year loan will be part of a 21 billion U.S. dollar ...
12 -- There is an atmosphere of optimism about the Egyptian economy as the International Monetary Fund (IMF) has approved a 12 billion U.S. dollars loan to Egypt and Standard and Poors has revised its sovereign credit outlook from "negative" to "stable," Egyptian prime minister said at an...
Egypt’s recent loan from the International Monetary Fund (IMF), of US$ 12billion, should ease the implementation of socially sensitive structural reforms, including the introduction of a value-addedtaxof 13%. The first installment of US$ 2.75billion was made available to Egypt’s government wit...
Egypt unpegged its currency to be free-floating in 2016 in order to receive a $12 billion bailout loan from theInternational Monetary Fund(IMF).5 Before the float, a U.S. dollar was worth 8.8 Egyptian pounds.4Whereas after this action, with the unpegging, a dollar was equivalent to abo...