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Christine Lagarde’s praise for recovery, strength of Egyptian economy on right track: Egypt’s finance minister
The Egyptian government is continuing to work at full capacity to implement the mandate of President Abdel Fattah Al-Sisi in strengthening resources and rationalising spending and interest in investing in human capital and the development of education and health systems, Moeit said.
Short-term path of reform satisfying, more work needed to reach desired targets: deputy minister of finance
Insuring commodity imports to avoid budget imbalances remains possible, says Kojak
Keeping reform momentum, revolutionising Egypt’s business climate way forward: co-founder and managing director of Qalaa Holdings
ERC to be commercially operational in 2019, plans for next phase of growth across the group
Authorities recommended to regularly assess implementation of IPOs: IMF executive director
Egypt should detain regular reforms regardless of IMF-supported programme
In light of IMF’s third review report, analysts recommend authorities to boost Egyptian exports, refraining risks
Exports are projected to reach $53.1bn in current FY 2018/2019
IMF approves 4th $2bn tranche of Egypt’s loan
The Executive Board of the International Monetary Fund (IMF) approved today the disbursement of the fourth tranche of the IMF loan to Egypt worth $2bn, as part of the extended $12bn loan facility over three years. The IMF’s approval followed the completion of the third review of the IMF’s economic reform programme, during their visit …
Egyptian authorities implementing energy reform wisely: IMF deputy managing director
Armed forces established infrastructure projects, was guarantor of country’s security
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IMF to begin third review of Egyptian reform programme next week
Mission to last 14 days, economic growth conference to kick off Saturday
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) …
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 …
No justification for energy subsidies in Arab world: Lagarde
Priority areas, such as health, education, social protection, marginalised by low spending
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 …
Why IMF cut its estimates of Egyptian economy after first review?
The IMF raises its estimates of inflation and debt and lowers its growth forecast
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Egypt’s stocks under pressure as possible interest rate hike looms
The CBE delayed the meeting of its monetary policy committee to 21 May
IMF’s delegation to visit Cairo on Sunday
The government’s programme aims at achieving GDP growth rate of 5.5% by FY 2018/2019
Unpredictable future of IMF loan
The IMF is to pay a visit to Egypt on 28 April after postponing it for the third time
Egypt must tackle inflation risks: Lagarde
“Other reforms have to continue, but there has to be a special focus on inflation,” says the IMF’s managing director
IMF delegation to review Egypt starting April 28: El-Garhy
IMF to complete their review of the programme in June this year, before releasing the 2nd tranche
The Pound losing ground despite rising stock prices
In November, the Egyptian administration floated the Egyptian pound to secure a loan from the International Monetary Fund (IMF)
Any delays of the IMF’s conditions might negatively affect Egypt: Tawfik
To measure the progress achieved by the Egyptian government, the International Monetary Fund (IMF) is scheduled to pay a visit to Egypt in April. Through this visit, the IMF’s delegation will decide whether or not Egypt would be entitled to receive the second part of the $12bn loan’s first tranche. But what if the delegation …
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 …
Egypt approves publishing details of $12bn loan next week: IMF
A technical delegation from the fund is in Egypt to follow up on the implementation of the economic reform programme this week, says government sources
Loan conditions do not include increasing customs tariffs: IMF
Increasing customs duties on imports is not the optimal policy for improving the payments balance, says Rice
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 …
IMF approves $12bn loan: what’s next for Egypt’s economic reform programme?
These reforms aren’t easy but they will unleash the potential of Egypt’s economy and serve its people, says IMF managing director
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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 …
IMF to decide on fate of Egypt’s $12bn loan Friday: CBE governor
The executive board of the International Monetary Fund (IMF) is set to hold a meeting on Friday, 11 November, to discuss, review, and decide on Egypt’s request for a loan of $12bn over three years, according to a press release from the Central Bank of Egypt (CBE).
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 …
Egypt obtains pledges worth $16.3bn for financing economic reforms during FY 2016/2017
Tarek Amer said that those countries include seven leading industrial countries and Arab countries, in addition to the IMF
Remainder of $6bn in additional funds to be secured in 2 weeks to guarantee IMF loan: El-Garhy
Minister of Finance Amr El-Garhy announced on Monday that Egypt will secure an additional $6bn from foreign institutions to guarantee the agreement for a $12bn loan from the International Monetary Fund (IMF) over a two-week period. In August, the IMF initially agreed to grant Egypt a $12bn three-year loan to support the government’s economic reform …