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 … ]
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 … ]
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 … ]
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 … ]
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 … ]
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 … ]
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 … ]
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 … ]
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 … ]
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 … ]
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 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 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 … ]
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 … ]
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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