Latest in Tag: International Monetary Fund Highlight

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Latest in Tag: International Monetary Fund


Egypt: Turning potential into performance

The revival of Egypt’s economic fortunes over the past few years has been nothing short of dramatic. The Arab world’s most populous country has devalued its currency and carried out a series of bold, but necessary, reforms to stabilise its economy, stimulate growth, and increase employment. A $12bn loan from the International Monetary Fund (IMF) …

Salah Shamma

4 years of fluctuating macroeconomic indicators

The Egyptian economy has gone through a wide range of changes in the past four years, implementing a reform programme backed by a $12bn loan from the International Monetary Fund (IMF) is a turning point. For many Egyptians, 3 November 2016 was an historical day, as the Central Bank of Egypt (CBE) announced the pound’s …

Hagar Omran

IMF announces its second review of Egypt tomorrow

On Tuesday, the International Monetary Fund (IMF) will announce the second review report and expert opinion on Egypt’s economic reform programme. Concurrent with the launching of the IMF report, IMF Mission Chief for Egypt Subir Lall will also hold a press conference. In November 2016, the IMF gave the green light for a $12bn loan …

Daily News Egypt

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

UK supports Egypt in achieving its full economic potential

The British Embassy in Cairo released on Monday parts of the UK statement during the International Monetary Fund (IMF) board discussions on 11 November. The statement noted that the UK played a vital role in the IMF’s decision, as a founder and important contributor to the fund. The statement noted that the UK congratulates the …

Daily News Egypt

Will Egypt follow the example of Brazil or Argentina in dealing with the IMF?

Following the implementation of all of the International Monetary Fund’s (IMF) preconditions for the three-year, $12bn loan Egypt is bent on receiving, the government submitted a letter of intent to the IMF executive board two days ago. A letter of intent outlines one or more agreements between the two parties before the conclusive agreement is …

Shaimaa Al-Aees

Increased cash support for subsidy cardholders is not enough: expert

Egypt floated its currency on Thursday, allowing it to fall from its previous peg of EGP 8.88 to the US dollar to between EGP 13 and EGP 16. This is the final push to secure the three-year International Monetary Fund (IMF) programme within days. In another step toward securing $12bn from the IMF, the government …

Hisham Salah

Egypt cannot afford to postpone the IMF loan: expert

  During his meeting with the editors-in-chief of national newspapers on Friday, President Abdel Fattah Al-Sisi talked about the loan that Egypt is seeking from the International Monetary Fund (IMF). This was the first time that the president tackled the country’s negotiations with the IMF, as he ensured that economic reforms will be implemented and …

Hisham Salah

The 3-week challenge: the IMF’s tricky homework for Egypt

When the people of Egypt heard that the government was willing to take a loan from the International Monetary Fund (IMF), they didn’t think that the government had decided to walk down a hard, tiring path. They didn’t know that Egypt would apply austerity measures that would affect their lives, by cutting its subsidies for …

Hisham Salah