Latest in Tag: debt Highlight
Latest in Tag: debt
Egyptian-Italian debt swap programme begins procedures for fourth tranche
The committee agreed to start the procedures for completing the fourth tranche of the programme, and to work on its innovative implementation to be an unconventional tool for financing, with the participation of the private sector and multilateral development banks, with the aim of doubling the benefit from the amounts that will be allocated in light of this stage, after completing the first and second tranches, and soon Completion of the projects included in the third tranche, in the presence of representatives of the Italian Embassy, the Italian Agency for Development Cooperation, the Technical Support Unit of the Management Committee, and the work team of the Ministry of International Cooperation.
Egypt reduces debt by 20% in last 3 years despite COVID-19
Egyptian economy expects projected EGP 6.4trn in GDP this fiscal year, as country’s credit rating remains stable, says Mohamed Maait
Al-Sisi directs government to reduce number of women imprisoned for debt in Egypt
President asserts that women are role models in various fields
Misr Capital to launch over EGP 7bn worth securitised debt instrument offerings
Two securitised debt instrument offerings worth total EGP 4bn to take place before 2020 end, says Khalil El-Bawab
2021 debt-to-GDP to reach around 65% in emerging markets: IMF
Georgieva mentioned that where debt is unsustainable, it should be restructured without delay. “We should move towards greater debt transparency and enhanced creditor coordination
Egypt to borrow EGP 600bn through T-bills, T-bonds in 3 months
Finance Ministry to issue EGP 499.5bn of T-bills, EGP 100.5bn of T-bonds between July and September 2020
Africa’s COVID-19 infections accelerate; IMF offers debt relief in continent
Total of 15,249 confirmed infections, 816 fatalities across continent so far
Global NFC debt now at 93% of GDP vs. 75% before 2008 financial crisis: IIF
COVID-19 fears prompt sharp downgrades to corporate earnings estimates, raising the risk of fallen angels and fire sales.
MENA records fastest external debt accumulation, Egypt top borrower: WB
Lebanon, Egypt absorbed 90% of net long-term external debt inflows to MENA, according to World Bank report
PHD, CIB sign EGP1.1bn medium-term loan to refinance some existing debt
The Loan is segregated into Tranches A and B, with maturity of five and four years respectively, complemented by a grace period of five months.
Egypt’s Long-term external debt at 87%: Amer
13% of short-term debts are deposits from Arab countries that are renewed every four years
Did IMF-backed reform reduce Egypt’s debt?
The IIF works in a sample of 25 past IMF programmes in developed, emerging, and frontier markets that started with debt to GDP ratios above 75%.
Egypt has no problem in paying off its debts and foreign obligations: CBE
Abulnaga ruled out the impact of interest rate cut on foreign investments in Egyptian debt
Domestic public debt records EGP 4.205tr in end-March
Domestic debt records 79% of GDP, of which 86.4% is owed by the government, 7.3% by public economic bodies and 6.3% by National Investment Bank
Finance Ministry plans to float EGP 160.75bn worth debt instruments during September
Ministry is issuing 16 offerings of EGP 151bn worth T-Bills and 8 T-Bonds offerings of EGP 9.75bn
Egypt repaid $25bn of debt in two years: CBE
The CBE said in a recent report that these debts include $21bn of interest on paid loans and $5bn of debt services.
NREA settles EGP 1.8bn of its 30-year-long accumulated debt
The Minister of Electricity and Energy, Mohammed Shaker, held a meeting with the NREA leaders to review the authority’s measures to improve its financial situation.
Rate cut essential to support growth, reduce debt service burden: Beltone
Research note affirms strong expectations of interest rate cut by 100 bps in September or November
Foreign banks cut investments in government debt instruments by over EGP 13bn in December 2018
Banks’ assets of T-Bills reach EGP 725.92bn, topping list of debt holders, says CBE
Government debt to GDP declines to 97.1% in Q2 2018: IIF
State debt at 84.4%., according to CBE
Debt to remain very high in several countries in particular Egypt: IMF
Countries will need to remain vigilant against rise in inflation
Drowning in debt — Barbados’ predicament offers a warning for small island nations
Barbados has been struggling with weak economic growth over the past decade, putting strains on its public debt and deficit. The ailing economy offers a cautionary tale for other small island nation states in the region.Barbados, an island nation in the North Atlantic, doesn’t usually garner the attention of international media, particularly when it comes …
Egypt’s debt in both petroleum, electricity sectors amount to over EGP 900bn: El-Garhy
Egypt’s Finance Minister Amr El-Garhy, said that the debt in both the petroleum and electricity sectors in the country have exceeded EGP 900bn, during a press conference on the sidelines of a weekly cabinet meeting on Wednesday. El-Garhy said that this situation cannot continue, especially with the challenging news that face the world, including the …
Loans: Who is to blame?
The government borrows money to meet its short- or long-term needs when there is a budget deficit. This is called debt. So, debt is a bill paid by coming generations in cases of obtaining loans for the purpose of narrowing a budget deficit without aiming to finance development projects. Or it may be a bill …
Increasing world debt raises concerns about new global crisis
$233tn world debt may be warning sign of imminent financial crisis
GB Auto’s net debt to reach EGP 4.34bn by end-2018: report
The company likely to suffer slower recovery in passenger car business segment
Industrial sector owes EGAS EGP 7bn in debts
The debts of the industrial sector owed to the Egyptian Natural Gas Holding Company (EGAS) amounted to EGP 7bn, according to a source at the company. According to the source, who asked not to be named, the indebtedness of the industrial sector has increased recently as a result of factories tending to pay only a …
Return on debt instruments hits 12-year high
Different reactions to interest rate, 2% raise in interest rate at CBE
Middle Eastern debt issuance reaches $57.4bn in H1 2017 with 53% increase: Reuters
The largest deal to be announced in 2017 is Tronox’s $2.2bn acquisition of a Saudi titanium dioxide business and is expected to boost inbound M&A to $6.6bn, says IB analysis
United Bank to reduce its troubled debt portfolio to less than EGP 2bn by 2017 end: chairperson
The bank seeks to increase its profits by more than 100% by the end of this year, says El Kadi