Latest in Tag: debts Highlight
Latest in Tag: debts
Egypt’s external debt rises to $125.3bn in September 2020
Long-term dues account for 90.2% of country’s total external debt
Egypt benefits from debt swap programmes with Italy, Germany: Deputy Planning Minister
Debt swap is effective measure to reduce debt burden on countries and simultaneously achieve SDGs, said Ahmed Kamali
EGP 9.9bn worth of debt waived under initiative to settle individual debts less than EGP 1m
940,000 thousand customers are covered by the initiative, their total debts amount to EGP 11.308bn, value of marginal returns reaches EGP 4.25bn
EGP 33bn of public sector companies’ bad debts settled
MoU to be signed soon between El Nasr Automotive, a Chinese company for EV manufacturing
International institutions acquired 30.7% of Egypt’s debts by end-June 2018
Debts to Arab countries reached $23.1bn or 24.9% of total external debts: CBE
Defaulting clients visiting government banks to settle their debts
Initiative benefits 1,635 companies,17,000 individuals in NBE with total debt of EGP 700m, says Aboul Fotouh
Nasr calls for taking necessary measures, relieving developing countries’ debts
World faces several risks, challenges that may hinder achieving the 2030 strategy goals, says minister
CBE launches initiative to settle debts of 3,500 companies, 337,000 individuals
Initiative to benefit NBE, Banque Misr, Banque du Caire, Export Development Bank, EALB, ABE, UBE, IDWBE clients
CBE provides banks $420m to cover companies’ flotation debts
The Central Bank of Egypt (CBE) provided $420m to local banks to cover the debt, which occurred by the different foreign currencies exchange rate due to flotation. This offer is valid for companies with debts of less than $5m and whose sales do not exceed EGP 500m. This came after the CBE’s governor Tarek Amer …
Electricity Ministry covers EGP 21.2bn of its debts to Petroleum Ministry
President meets with Shaker, follows up on projects’ implementation
Will Egypt follow the example of Brazil or Argentina in dealing with the IMF?
Following the implementation of all of the International Monetary Fund’s (IMF) preconditions for the three-year, $12bn loan Egypt is bent on receiving, the government submitted a letter of intent to the IMF executive board two days ago. A letter of intent outlines one or more agreements between the two parties before the conclusive agreement is …
CBE decides to defer tourism sector debts to banks for 3 years
CBE will create unit to contribute to restructure the debts of tourism sector
Dana Gas to discuss collecting receivables in Egypt this week
Board of directors’ meeting will discuss company’s 2015 mid-year budget and Q1 financial statements
Banque du Caire eyeing Economic Summit projects
State-owned Banque du Caire aims to finance several projects the government will present in the March Economic Summit, said the bank’s Vice-Chairman Mohamed Taha. Taha said his bank has a large liquidity enabling it to expand in funding national projects, noting the bank will attend the Summit, and will study all proposed projects. In late …
Tourism sector asks banks to postpone debt repayment to end of 2015
Banking system owed EGP 10bn from tourism sector, workers hope to postpone debt repayment to end of 2015
Investment ministry in EGP32bn asset-debt swap with National Bank of Egypt, Banque Misr
Meeting to be held soon regarding payment of outstanding EGP 1.6bn owed to banks, says minister
Upcoming period is busy time for petroleum industry: Petroleum minister
Although there will be a $2bn in debts to foreign partners by year end, ministry has paid back $11.2bn to foreign companies during FY 2013/2014
Tourism industry to remain unaffected by subsidy cuts: Experts
The number of tourists in 2013 was 10.6 million, a reduction of 16.7% on 2012. The total number of nights spent by tourists also declined to a drop of 27.9% from the same period during 2013.
B-/B ratings affirmed, Al-Sisi expected to win: Standard and Poor’s
S&P notes that violence may escalate if “social elements” are radicalised, which will result in the continuous weakening fiscal and external accounts
Banks reschedule debts of 32 Red Sea hotels and resorts
The Central Bank of Egypt has extended the deadline till July 2014
Central Bank launches new initiative to boost tourism sector
Amr Shetta, from Orascom Hotels and Development, said that ‘it is not the Central Bank’s role’ to help the sector, which is a matter of ‘government concern’
NBE targets EGP 1.1 billion reduction in bad debts portfolio
Four years ago, bad debts portfolio represented 30 per cent of the total credit portfolio