Latest in Tag: debt Highlight
Latest in Tag: debt
We cannot continue with the current deficit and debt rates, and we are working to reduce them, states the Finance Minister
We aim to reduce the deficit to 9%, unemployment to 11.5%, increase growth to 4.6%, says El-Garhy
Borrowing rate will not slow down as debt is set to increase
The finance ministry sold new bonds on international markets worth $3bn
Egypt’s public debt is reaching critical level
Experts believe there are no other options but to ask for more loans, while national and foreign debt is equally dangerous
Banks increase bad debt allocations by EGP 27.2bn due to flotation
Total financial position of banks climbed to EGP 3.99tn at the end of November 2016, increasing by EGP 857.2bn from October
CBE provides $600m to settle dollar debts of about 570 companies
Companies will repay their debts—that resulted from fluctuations of exchange rates after the flotation—at an interest rate of 12% over two years
Egypt’s economy over 6 years
There are three variables in any economy which need to be reduced: inflation, unemployment, and debt; and three others which must be increased, including investment, growth, and export. There are also some intermediate variables that contribute to achieve those six goals, such as increasing the savings which help boosting investment and fighting poverty through reducing …
IMF loan’s first tranche was not used to pay off debts: CBE governor
The total imports in 2016 amounted to $76bn, of which $2.2bn were for maize and beans
Cost of government debt threatens economic reform programmes
The government successfully controls the subsidies and salaries bills, but fails to handle the interest on government debt
2016: an opening for Egypt’s economy to recover or an entryway into a dark tunnel?
International lending is threatened with the fate of Gulf aid, which failed to heal Egypt’s economy
Egypt, IMF to cut budget deficit to 5.5% during 3-year funding programme
Primary agreement between IMF and Egypt; IMF executive board to determine timing of payment tranches
Africa may face unsustainable debt: report
Africa may have a problem with unsustainable debt on its hands if it doesn’t manage to find other ways to finance development and cut off illicit financial flows, a new report from a United Nations trade body has said.
Pace of borrowing will not fall, no alternatives to further external debt: experts
Current pace of borrowing will drive external debt over safe limits within two years; the government lost $100bn of investments at Sharm El-Sheikh conference, says Prime Holding economist
The government asks for money, simply because it can: economics professor
Poor financial planning, using loans in the wrong projects are the largest external debt problems
In Cartoon: Egypt’s debt burden
The Brotherhood v 30 June: more debt to finance growth
Egyptian economy sees insufficient growth to improve quality of living, while government required to increase its resources
German Bund yield drops to historic low
For the first time in modern German history, the yield of the country’s benchmark 10-year debt – also known as Bund – has fallen below zero percent as investors rush to safety ahead of Britain’s Brexit referendum
Despite insecurity, the banking sector remains stable: Moody’s
Moody’s did not upgrade Egypt’s credit rating, but gave a positive outlook owing to stable short- and medium-term indicators
Puerto Rico bargains after default
Puerto Rico has said it’s hoping to avoid some lawsuits against it after the US territory said it would not be able to pay back its debt. The government warned the money was needed to keep critical services functioning.
2.6% decline last week in cost of insuring Egypt’s debt
Beltone asserted that the pound’s devaluation and the increase in the return on treasury bills will increase investors’ confidence
Egypt’s debt burden to see no relief as infusion of debt stimulus to spiral upward
After the EEDC, at least $8.3bn in loans has been agreed to by Egyptian ministries in different development sectors
Banks delay raising interest rates on pound savings until return from debt instruments increases
The banks started to hold intensified meetings on Sunday morning to discuss the future of interest rates on the deposits and loans they handle.
External debt drops $2bn over 3 months
Rate of increase in bank loans outstrips deposits for first time ever
Egypt’s credit risk increased with ailing economy: Moody’s Analytics
One-year External Default Frequency for Egyptian government debt increased from 0.09% in early October to 0.18%
218 prisoners pardoned to mark 6th of October War
The released are non-political detainees, all charged with debt issues
IMF changing tack on Greece
Latin Americans and Asians are happy that they do not need the help of the International Monetary Fund (IMF). But, Europe can no longer function without it. What’s behind the IMF’s interest in Greece?
Al-Sisi meets with BG’s CEO
Egypt’s President Abdel Fattah Al-Sisi met with Helge Lund, the Chief Executive Officer of British Gas (BG), to discuss the company’s current activities in Egypt and its plans to increase its investments. The meeting was also attended by Petroleum Minister Sherif Ismail, according to an official statement by the presidency. The BG executive congratulated the …
Egypt’s debts to Paris Club decrease 18%
Egypt repaid $670m to Paris Club in July, another payment of same amount is expected to follow in January
Update: Egyptian cabinet approves budget draft for FY 2015/2016
Government targets 9.9% budget deficit, 23% increase in revenues and a 5% GDP growth
Public debt increases to 93.8% of GDP, poses risk to economy: Economists
High rate of public debt makes banks unable to fund budget deficit, which increases government’s will to fund deficit from abroad
Availability of foreign currency, public debt growth largest challenges for encouraging investment: World Bank economist
Poverty rates are still high, especially in Upper Egypt