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HomeIMF loan

IMF loan

Egypt Latest News

IMF approves $5.2bn as a new loan for Egypt!

June 27, 2020 MEO Staff

The loan will focus first on health and social spending The IMF noted Cairo had ‘a strong track record’ of implementing economic reforms! The IMF board on Friday approved a one-year, $5.2 billion financing package [ More … ]

Egypt Latest News

Egypt opposition rejects the IMF deal and accuses regime of drowning Egypt with debts

May 11, 2020 MEO Staff

The Executive Board of the IMF approved Egypt’s request for emergency financial assistance of US$ 2.772 billion to meet the urgent balance of payments needs stemming from the outbreak of the COVID-19 pandemic. Following the [ More … ]

Egypt Latest News

Egyptian Opposition Figures Reject New IMF Loan

May 10, 2020 MEO Staff

Egyptian opposition figures at home have announced their complete rejection of the new loan that Cairo intends to obtain from the International Monetary Fund (IMF) to face the economic repercussions resulting from the outbreak of [ More … ]

Egypt Latest News

Egypt’s Annual Inflation Reaches 12.2%

February 11, 2019 Ahmed Rashed

Egypt’s annual urban consumer price inflation increased to 12.7 percent in January from 12.0 percent in December, as recorded by the CAPMAS statistics agency, though the data was unlikely to quell speculation the central bank [ More … ]

Egypt Latest News

Bloomberg: Satisfying the IMF Won’t Solve Egypt’s Economic Problems

February 1, 2019 Ahmed Rashed

When the Egyptian government signed an agreement with the International Monetary Fund in November 2016, it committed to the all-too-familiar austerity measures of subsidy cuts and tax hikes, in addition to the flotation of the [ More … ]

Egypt Latest News

Despite Its Fragile Economy, Egypt’s Arms Sales Hiked Under Al-Sisi’s Rule

October 10, 2018 Ahmed Rashed

A new report released by Stratfor -an American geopolitical intelligence platform-highlight Egypt’s spendings in arms sales during Al-Sisi’s rule despite the north African country’s wrecked economy. The report reads that over the past few years,” Egypt has opened the [ More … ]

Egypt Latest News

Egypt’s Hiring Freeze Sparks Concern Among Young Workers

October 8, 2018 Ahmed Rashed

An announcement by the Egyptian government that it will not hire any staff for the next five years has sparked anger among civil servants.  Government workers said the tactic was a heavy-handed, cost-cutting measure that [ More … ]

Egypt Latest News

Despite Rages from Austerity Measures, Al-Sisi Still Sees Egypt on the Right Track

July 3, 2018 Ahmed Rashed

After years of instability that had nearly brought the North African country to its knees, Abdel Fattah al-Sisi claims that the country is on its right track through his rule years. Two days ago, al-Sisi said [ More … ]

Egypt Latest News

Egypt’s Angry Civil Servants Say that Pay Raise Not Enough for New Price Hikes

June 23, 2018 Ahmed Rashed

Egyptian civil servants have warned the government that increases in their salaries will not help them avoid the devastating impact of tough new austerity measures. Earlier this month the national Parliament approved a draft law [ More … ]

Egypt Latest News

Egypt Police Arrest Protesters Against Hikes in Metro Fares

May 13, 2018 Ahmed Rashed

Egyptian police arrested 21 people for taking part in protests against the government’s surprise decision to hike fares on Cairo’s subway as part of austerity measures meant to restore the economy, officials said on Saturday. [ More … ]

Egypt Latest News

Only in Egypt: One Day off From Country Workers to Donate Monthly From Payroll !

March 20, 2018 Ahmed Rashed

Egypt’s Kafr el-Sheikh Governor asked workers to donate one day off from their monthly payroll for “Tahya Masr” government Fund . On phone interview with CBC (pro-government)channel, Major General Nasr Nasr, governor of Kafr El-Sheikh, said [ More … ]

Egypt Latest News

Egypt receives final $1.25bn of IMF loan

July 19, 2017 MEO Staff

Egypt received today the final installment of the first $4 billion tranche of the $12 billion International Monetary Fund (IMF) loan, the state-run Middle East News Agency (MENA) reported. An official source at the Central [ More … ]

Egypt Latest News

The Poor in Egypt Endure Hardships of IMF Loan Conditions

May 9, 2017 Ahmed Rashed

Reliance on state-subsidized supplies rises after Cairo signs $12bn package with IMF, according to a Financial Times report, titled:  “Egypt’s loan conditions leave poor on the bread line”. While Zeinab Ahmed and her friend are waiting [ More … ]

Egypt Latest News

Egypt Expects to Receive the Second Installment of the IMF Loan in June

May 8, 2017 Ahmed Rashed

Egypt expects to receive a second installment, worth $1.2 billion, of a three-year International Monetary Fund loan in the second half of June. At a press conference, Finance Minister Amr el-Garhy announced that negotiations with [ More … ]

Egypt Latest News

Washington Cuts Off Economic Aid to Egypt by Half

May 3, 2017 Ahmed Rashed

Sources in Washington predicted that the US administration would reduce its economic aid to Egypt by half, registering $75 million instead of $150 million annually, while US military aid will stay at the same level, [ More … ]

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