May 23, 2022
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HomeIMF

IMF

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 … ]

Egypt Latest News

Egypt; Former Investment Minister slams recent IMF loan to Egypt as “political support to Sisi”

May 12, 2020 MEO Staff

The International Monetary Fund on Monday said its executive board approved $2.77 billion in emergency financing to help Egypt grapple with the new coronavirus pandemic that has brought tourism to a standstill and triggered major [ More … ]

Egypt Latest News

Egyptian National Action Group accuses IMF of Entangling Egypt in Debts

April 29, 2020 MEO Staff

The Egyptian National Action Group (ENAG) on Wednesday accused the International Monetary Fund (IMF) of implicating Egypt in more debts. The Egyptian National Action Group, including opposition figures from across the Egyptian political spectrum both [ More … ]

Egypt Latest News

Egypt request a new loan from the IMF amid virus-inflicted downturn!

April 27, 2020 MEO Staff

The impact of previous IMF-required economic reforms has been hardest on the poor in a country where one in three lives below the poverty line The Egyptian government is seeking an aid package from the [ More … ]

Egypt Latest News

Egypt’s Sisi Denies Videos Alleging Corruption

September 16, 2019 Ahmed Rashed

Egypt’s Abdel Fattah al-Sisi said on allegations of corruption within the army and government were “lies and slander”, in his first public response to graft accusations that have gone viral online. “I swear to God, [ More … ]

Egypt Latest News

Egypt’s Domestic Debt Surges 4.108 Trillion Pounds in 2018

May 22, 2019 Ahmed Rashed

The domestic public debt of Egypt reached EGP 4.1049tn at the end of December 2018, against EGP 3.887tn at the end of September 2018, up by EGP 220bn (5.66%), according to the Central Bank of [ More … ]

Egypt Latest News

Egypt to Cut Out Subsidies As It Nears End of the IMF Programme

April 6, 2019 Ahmed Rashed

Egypt will remove subsidies on most energy products by June 15, it told the International Monetary Fund in a January letter released by the IMF on Saturday as part of a review of Cairo’s three-year, [ More … ]

Egypt Latest News

Egyptians suffer under austerity as Sisi splashes cash on the military

November 26, 2018 MEO Staff

As the Egyptian president prepares for the country’s first arms expo, analysts say Egyptian citizens do not benefit from lavish state spending In early December, the world’s arms companies are set to descend on Egypt. [ More … ]

Column

Reduction of Subsidy and Egypt’s Financial Situation

August 9, 2018 MEO Staff

By: Abdel-Hafez Al-Sawi*  Subsidy in Egypt, a thorny issue, is usually addressed in light of government decisions to reduce it, which accordingly leads to raising the prices of goods and services. But subsidy is not [ More … ]

Egypt Latest News

Egypt’s Foreign Debt Rises to $88.2 Billion in the Third Quarter of 2017-2018

August 7, 2018 Ahmed Rashed

Egypt’s foreign debt rose to $88.2 billion in the third quarter of the 2017-2018 fiscal year, up from $73.9 billion in the same period the previous year, central bank data showed on Monday. Egypt’s fiscal [ More … ]

Analysis

Column: Why President Morsi Rejected IMF Conditions?!

August 6, 2018 Ahmed Rashed

On July 1, 2012, when the Egyptian military junta – theoretically – handed over power to the elected authority, the foreign reserves then was only $ 15.5 billion against $ 36 billion early 2011 when [ More … ]

Egypt Latest News

Washington Post: Egypt’s Al-Sisi Is Facing Unusual Dissent over Hiking Prices

July 21, 2018 Ahmed Rashed

Egypt’s al-Sisi is confronting one of the toughest challenges he has faced since seizing power five years ago, as rising prices linked to economic austerity measures take a toll on his core middle-class supporters, according [ More … ]

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Latest

Egypt: Jailed activist ‘Alaa Abdel Fattah’ moved to a new prison

Egypt Latest News
May 22, 2022

U.S. approves large arms sales to Egypt, most recently anti-tank missiles

Egypt Latest News
May 21, 2022

Egypt: Family of acquitted detainee ‘Waheed Hassan’ calls for his release

Egypt Latest News
May 20, 2022

Egypt: Concerns about direction of proposed dialogue, while Gov. promises to sell off state assets

Egypt Latest News
May 18, 2022

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

Egypt Latest News
May 18, 2022
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