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 … ]
Despite Egypt’s economic problems and the austerity policies announced by the government ahead of the IMF loan agreement, the regime is ready to spend almost half a million dollars on building a museum. Japan has [ More … ]
The Finance Minister Amr El Garhy and the Governor of the Central Bank of Egypt (CBE)Tarek Amer are currently in Washington, DC, for a round of talks with senior executives of the IMF on the [ More … ]
The International Monetary Fund has approved a $723 million loan facility to Jordan in a three-year program to support economic and financial reforms aimed at lowering public debt and accelerating growth, according to an IMF statement on [ More … ]
Experts believe that the recent suggestions issued in the Egyptian parliamant to draft a law to permanently close money exchange bureaus to resolve distortions in the exchange rate system might be harmful to the already [ More … ]
Two government sources said that Egypt has reached a preliminary agreement with the International Monetary Fund after nearly two weeks of talks to secure a $12 billion (9.25 billion pounds) lending programme and will make [ More … ]
The Central Bank of Egypt said that the foreign-currency reserves dropped in a great amount reaching $15.537 bn in the end of July after it was $17.546bn at the end of June. The drop in Egypt’s [ More … ]
Egypt is in negotiations with the International Monetary Fund (IMF) to finalize $12 billion loan over the next three years. The Egyptian economy has been struggling as it faced one of the harshest downfalls in [ More … ]
Egyptian officials started talks in Cairo with the International Monetary Fund (IMF) ahead reaching an agreement over a loan to help finance the government’s economic program. Egypt is seeking $12 billion over three years. The [ More … ]
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