In March, the IMF approved additional 5-billion-dollar funding to Egypt, besides the 3-billion-dollar, 46-month funding approved in late 2022 to support the country's reforms.■
The IMF Executive Board approved on Thursday the release of 1.25 billion which is the final installment of a second tranche of a 12 billion dollars loan to Egypt. "We believe that these efforts will yield results," Lagarde added. Cairo is expected to receive the new disbursal very soon, sa...
Egypt's reform program includes fuel and energy subsidy cuts that have led to price hikes over the past couple of years, but the government has allocated billions of Egyptian pounds in a social protection program for conditional and unconditional cash transfer to support those most affected by th...
I don’t think so. Around 10% of the fund’s resources would solve Ethiopia and Egypt’s emergency. However, for this to happen, another obstacle in the CRA statute still needs to be revised. Currently, if a CRA member country requests resources from the fund, only 30% can be authorise...
support remains essential to ensure government continuity – will slow efforts to privatise loss-making state-owned enterprises (SOE). Meanwhile, Egypt is unlikely to follow through on IMF conditions that require it to withdraw distortionary benefits for companies linked to the military amid President...
Egypt, Benin, Djibouti and the Seychelles are the latest countries to receive support from the IMF in the battle against Covid-19. Egypt has received USD 2.77 billion in emergency International Monetary Fund (IMF) support to meet payments as it battles Covid-19. The IMF said the funding, ...
B The disbursement of funds to provide budgetary support is approved. b On December 16th the Executive Board of the International Monetary Fund (IMF) approved a 46-month arrangement under the Extended Fund Facility (EFF) for Egypt in an amount of about US$3bn. The CBE's Monetary Policy ...
This will safeguard the gains achieved by Egypt over the past three years and put the country on strong footing for sustained recovery as well as higher and more inclusive growth and job creation over the medium term. The SBA will also aim to support health and social spending, improve ...
A severe fragmentation of the global economy after decades of increasing economic integration could reduce global economic output by up to 7 percent. However, the losses could reach 8 to 12 percent in some countries, if technology is also decoupled,
Ghana, he said, “can’t even get to the first step [of an IMF programme] because it needs financing assurances from its creditors”. Several other African countries such as Egypt and Tunisia are at risk of default. Many have been shut out of international debt markets since 2020 by “ex...