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 … ]
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 … ]
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 … ]
In devotion of Robert Springborg’s description of Egypt as “beggar state”, with respect to reliance on foreign support, South Korea announces it will lend Egypt $1bn, as soft loan South Korea has announced that it [ More … ]
Saudi Arabia has deposited $3 billion each in the Central Bank of Egypt, according to the Saudi Press Agency (SPA). The SPA Monday report cited a statement by the Saudi Finance Ministry, saying that Riyadh [ More … ]
The French judiciary is investigating an €8 million loan paid via a bank based in the United Arab Emirates to the French far-right National Rally party, Mediapart has revealed. Formerly known as the National Front, [ More … ]
Saudi Arabia has ended a loan and oil supply to Pakistan due to the latter’s criticism that the Saudi-led Organization of Islamic Cooperation (OIC) is not doing enough to pressure India on the Kashmir issue. [ More … ]
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 … ]
Tunisia is likely to sell stakes in three state-owned banks this year and cut up to 10,000 public sector jobs as part of reforms demanded by the International Monetary Fund (IMF), which has postponed the [ More … ]
Egypt’s Finance Minister Amr El-Garhy said that Egypt will make further cuts to energy subsidies, raise taxes and seek more international financing as it pursues economic reforms this year. In a press conference in Cairo, [ More … ]
Egypt’s Petroleum Minister Tarek el-Molla says Egypt’s debts to foreign oil companies hit $3.6 billion. Tarek el-Molla, the Egyptian Petroleum Minister, said that Egypt’s debts to foreign oil companies have reached $3.6 billion. El-Molla added that the [ More … ]
It has been a hard week for the Egyptian currency. “The Egyptian pound hit a record low against the dollar on the black market after the North African country’s central bank failed to devalue the [ More … ]
Egypt eyes to secure a new deposit from Saudi Arabia worth $2-3 billion as part of about $6 billion in bilateral financing required to secure an IMF loan, the finance minister said in comments published [ More … ]
The Ministry of International Cooperation said that Egypt is expecting to sign agreements with the European Investment Bank worth EUR575 million in the second half of October. According to a statement by the ministry citing [ More … ]
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