February 8, 2023
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HomeIMF

IMF

Egypt Latest News

Egypt: ‘IMF bailout highlights risks of austerity and corruption’, rights report

February 2, 2023 MEO Staff

A joint report issued by Human Rights Watch (HRW) and Democracy in the Arab World Now (DAWN) warns that the new $3-billion loan agreement concluded between the IMF and Egypt threatens the economic rights of [ More … ]

Egypt Latest News

Egypt: Local currency sees largest single-day fall since IMF deal

January 7, 2023 MEO Staff

The Egyptian pound tumbled last Wednesday in its largest single-day slide since the cash-strapped government agreed to a $3 billion International Monetary Fund deal in mid-December, reported Associated Press, citing authorities. The Egyptian pound fell [ More … ]

Egypt Latest News

IMF approves a $3-billion loan for Egypt to support its ailing economy

December 17, 2022 MEO Staff

The International Monetary Fund early Saturday approved a $3 billion loan for Egypt under a 46-month program. In a statement, the IMF said the arrangement under the Extended Fund Facility (EFF) includes the immediate disbursement [ More … ]

Egypt Latest News

Egypt: Chaos in foreign exchange market, with several prices of US dollar against the pound

December 9, 2022 MEO Staff

Estimates of the volume of transactions in the informal market in Egypt amount to $8 billion, according to Al-Arabiya, citing a banker. The Egyptian economy went through conditions similar to those we are witnessing nowadays, [ More … ]

Egypt Latest News

Egypt’s debt crisis is a sharp expression of a broader global economic crisis, says Counterfire

December 6, 2022 MEO Staff

The exacerbation of Egyptian indebtedness during the reign of Sisi is only a sharp expression of a more extensive global economic crisis, according to Counterfire. “Under the brutal regime of Abdel Fattah al-Sisi, Egypt has [ More … ]

Analysis

“Egypt is not out of the woods after IMF rescue deal”, analysis

November 27, 2022 MEO Staff

Egypt’s finances remain in a precarious state despite two major currency devaluations this year and a brand new $3 billion International Monetary Fund rescue package, economists say. With debt interest payments set to soak up [ More … ]

Analysis

Egypt: Has the country actually fallen under foreign mandate amid its most recent IMF deal?

October 28, 2022 MEO Staff

Egyptians wonder whether their country has officially fallen under international and regional mandate after its most recent deal with the International Monetary Fund, which was announced on 27 October 2022. The International Monetary Fund (IMF) [ More … ]

Egypt Latest News

Egypt owes IMF over $17 billion due in 5 years, report

October 20, 2022 MEO Staff

While the Egyptian government is actively seeking a new loan from the International Monetary Fund (IMF), the country still owes the Fund over $17 billion, due within five years. Egypt had borrowed $20 billion from [ More … ]

Egypt Latest News

‘Governance issues should be addressed in any bailout’ to ease Egypt’s economic crisis, report

August 22, 2022 MEO Staff

While Egypt is seeking ‘exceptional’ treatment by the IMF, the ‘governance issues should be addressed In any coming bailout’ scheme to help government overcome the current economic impasse, states HRW in a report. Egypt is currently [ More … ]

Egypt Latest News

Egypt needs $15 billion from the IMF, US Goldman Sachs states

August 3, 2022 MEO Staff

US Goldman Sachs has estimated that Egypt needs to secure $15 billion from the IMF. However, for Egypt’s Maait, the US bank’s estimate of Egypt’s $15 billion IMF needs, seems too high. Goldman Sachs Group [ More … ]

Egypt Latest News

IMF says Egypt needs “decisive progress on deeper reforms” to allow a new loan

July 28, 2022 MEO Staff

The IMF has announced that Egypt needs to achieve progress on fiscal and structural economic reform as Cairo seeks new support from the fund. The International Monetary Fund (IMF) said in a statement Tuesday that Egypt needs [ More … ]

Egypt Latest News

Egypt facing sharp rise in costs to finance $30 bln. deficit, report

May 18, 2022 MEO Staff

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 … ]

Egypt Latest News

Egypt: Austerity measures looming amid the Russia-Ukraine war

April 1, 2022 MEO Staff

Egypt to introduce new austerity measures as the war between Russia and Ukraine wrecks its economy Amid the Russia-Ukraine war, economists fear new austerity policies will exacerbate suffering of millions of Egyptians already hit by [ More … ]

Egypt Latest News

Egypt in talks with IMF on likely loan amid Ukraine war pressures, report

March 20, 2022 MEO Staff

Ukraine conflict may curb Egypt’s tourism and increase its food import bill, pushing government to talks with the International Monetary Fund on funding. Egypt is in talks with the International Monetary Fund on possible support [ More … ]

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 … ]

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Latest

Sisi calls Erdogan and Assad, offers condolences to victims of destructive earthquake

Egypt Latest News
February 7, 2023

Destructive earthquake leaves 1500+ dead and about 10,000 injured so far in southeast of Turkiye

Turkey Latest News
February 6, 2023

Egypt: Leaks on a 99-year Suez Canal concession deal with an Israeli company

Egypt Latest News
February 5, 2023

Sudan and Israel agree to enhance ‘normalization’ of relations between them

Egypt Latest News
February 3, 2023

Egypt: ‘IMF bailout highlights risks of austerity and corruption’, rights report

Egypt Latest News
February 2, 2023
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