Latest in Tag: IMF Highlight

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Latest in Tag: IMF


Egyptian economy is gaining momentum: Bank of America Merrill Lynch

With the trade in Egyptian Treasury bills (T-bills) gaining ground, the witnessed drop in T-bill yields at auctions is an indication of the increasing foreign investor participation and is providing support to the USD/EGP trade with a better tone, according to Bank of America Merrill Lynch’s February insight report. The report cites the unofficial announcement …

Mohamed Samir

Egypt is making good progress in the loan programme, IMF

Christine Lagarde, head of the International Monetary Fund (IMF), said on Monday that Egypt is making good progress in the $12bn loan programme, noting that the currency is likely to stabilise after months of depreciation. Lagarde said in an interview during a visit to Dubai that the IMF sees good, noticeable progress by the Egyptian …

Daily News Egypt

Egyptian pound’s value drops by 98% since 1979

According to data collected from the International Monetary Fund (IMF), Bloomberg, and Beltone research, the Egyptian pound lost a lot of its value during the past four decades. Since 1979, the pound has lost approximately 98% of its value. Now, the pound can buy only 2% of what it could back in 1979, and is …

Hisham Salah

Protecting the Vulnerable During Egypt’s Economic Reform

Restoring economic stability is not easy, as Egypt’s President Sisi has said many times. The country faces three interlinked problems: an urgent balance of payments problem—which means more foreign currency has been going out the door than coming in—rising public debt, as well as low growth and high unemployment. With help from the IMF, Egypt has …

Chris Jarvis

Prospects and risks of Egypt’s ambitious economic reform programme, according to the IMF 

Since 2011, political and regional developments have taken a significant toll on the Egyptian economy. Underlying structural challenges and the prolonged political transition led to the build-up of macroeconomic imbalances. A significantly overvalued exchange rate undermined competitiveness and depleted reserves. Weak revenue, combined with poorly targeted subsidies and a growing public sector wage bill, resulted …

Mohamed Samir