Egypt faces $16 bln in foreign debt servicing in 2022/23, including $2 bln to IMF. However, the interest payments will be equivalent to 45% of state revenue Higher interest rates, a weak currency and broader [ More … ]
Saudi finance minister says kingdom will also draw down up to $32bn from its reserves to finance deficit caused by twin crises Kingdom of Saudi Arabia (KSA) could be forced to borrow around $26bn more [ More … ]
A source from the Ministry of Finance revealed Egypt’s plan for early 2018 to return to the international financial markets and borrow $4bn to cover a budget deficit. The source told Bloomberg that the ministry [ More … ]
BY: Abdel Hafez Al-Sawi* The state budget is the most prominent example of social contract between citizens and the state, where the citizens get assured of the nature of economic policies, the burdens that they [ More … ]
Sugar shortage is the latest among the Egyptian goods’ crises. The Egyptian market began to witness a growing shortage in the supply of sugar that led to a sharp increase in its price up to [ More … ]
The Egyptian Foreign Ministry has dispatched a cable, of which Mada Masr obtained a copy, to all the Egyptian diplomatic missions aboard. The cable said that the August salary will be postponed as “the payroll has not [ More … ]
Egyptian officials started talks in Cairo with the International Monetary Fund (IMF) ahead reaching an agreement over a loan to help finance the government’s economic program. Egypt is seeking $12 billion over three years. The [ More … ]
The 33 pct year-on-year fall reduces the deficit to $2.86B in May from $4.27B a year earlier Turkey’s current account deficit was down by one-third in May, the Turkish Central Bank said Thursday, according to [ More … ]
Egypt’s economic reform has been highlighted in a number of international economic financial events and government policies, but there are great measures and standards that need to be accomplished according to the International Monetary Fund. [ More … ]
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