Latest in Tag: IMF loan Highlight
Latest in Tag: IMF loan
IMF remains committed to supporting Egypt
During his recent visit to Cairo, the director of the Middle East and Central Asia Department of the International Monetary Fund (IMF), Masood Ahmed, held meetings with numerous political figures
Ten new ministers take oath in Cabinet reshuffle
Four new Cabinet ministers are known to be Muslim Brotherhood members
IMF loan talks to resume
This loan will be a certificate of trust for the Egyptian economy, it proves that Egypt can repay its loans, so they can seek more loans
Government mulls over raising water prices
Gradual increase in water prices, taking place over a five-year period starting with January 2013, would seek to control and regulate consumption
Egypt’s credit rating on the slide
S&P cuts Egypt’s credit rating to B-; fourth downgrade in 14 consecutive months
Al-Saeed: Tax reforms are part of a programme to overcome the current crisis
Changes in the tax code had been approved after the ministry had consulted with various business organizations, according to the minister of finance
IMF deal approval delayed
The International Monetary Fund said that Egypt had asked to delay its request for a $4.8 billion loan agreed in November as violent protests mount in Cairo ahead of a referendum on the constitution
Morsy’s actions raise uncertainty over IMF
IMF board to convene on 12 December
IMF loan restores faith in the stock market
The IMF deal has been seen by analysts as the key catalyst of recovery in the stock exchange after the revolution
The IMF loan in the context of economic reform
The air of ambiguity surrounding Egypt’s receipt of the IMF loan provides a distraction from what the loan is really about, and the clandestine nature of the negotiations goes a long way towards substantiating the true objective of the loan. For the sake of dodging bouts of public rage in times when they’re as frequent …
Rights centre demands transparency on IMF loan
Egyptian Centre for Economic and Social Rights files lawsuit
Civil society groups and political parties march against IMF loan
Groups express concern over the consequences of accepting the IMF loan
Rebel economy wrap
IMF “Deal or No Deal.” we won’t produce a Salafi Ahmed Ezz, say Salafis
IMF team back in town
Technical delegation resumes negotiations over loan
Activists protest IMF loan
Protesters from several movements took to the streets in rejection of the IMF loan proposal, days after the IMF chief visited Cairo and met top officials.
IMF lifeline, a test for Morsy
For many Egyptians, life was tough under the former regime of President Hosni Mubarak. Now it’s even tougher and things are likely to get worse before they get better
IMF sees ‘good progress’ on loan deal for Egypt
The Egyptian government and the IMF are negotiating the terms of a $3.2 billion loan.
IMF needs solid Cairo support for loan: Lagarde
By AFP WASHINGTON: IMF chief Christine Lagarde said Thursday that the global lender needs solid support from Cairo’s authorities for a truly viable program if it is to lend Egypt money. “I want to help Egypt, no question about it,” Lagarde told journalists in Washington after being asked what was holding up a $3.2 billion …
Analysis: Egypt’s Brotherhood raises stakes by excluding IMF
By Patrick Werr /Reuters CAIRO: In all but ruling out an early agreement on an IMF loan, Egypt’s Muslim Brotherhood has dramatically raised the stakes in its struggle with the army-led administration for control of a country still reeling from a year of political turmoil. The Brotherhood’s candidate for president, Khairat Al-Shater, said this week the …
Egypt finance minister expects to get IMF loan by end-June
By Reuters CAIRO: Egypt’s government expects to seal a loan from the International Monetary Fund by May 15, allowing the money to be disbursed before a new president is sworn in at the end of June, the country’s Finance Minister Mumtaz Al-Saeed said on Thursday. “We expect to get approval of the IMF loan before …
IMF says Egypt needs to agree on new budget
By AFP WASHINGTON: The International Monetary Fund said Tuesday that Egypt’s divided politicians needed to agree on a new budget before it can offer financial support for the country. In a statement following a staff mission to Cairo, the IMF said Egyptian authorities had made progress on their economic program, which it said “appropriately aims …
Brotherhood holds Egyptian army to ransom on aid
By Una Galani / Reuters Breakingviews DUBAI: Egypt’s Muslim Brotherhood is holding the army to ransom. The moderate Islamist movement, which won almost half the seats in recent parliamentary elections, says it won’t support a $3.2 billion aid deal with the International Monetary Fund. It has demanded new terms, or asked the army to step aside …
Egypt stocks drop to 8-week lows on funding fears
By Tom Pfeiffer and Patrick Werr / Reuters CAIRO: Egyptian stocks fell to eight-week lows on Monday after the Muslim Brotherhood challenged the government to change the terms of an emergency IMF loan, showing political powers remain far apart on how to stave off a payments crisis. Muslim Brotherhood presidential candidate Khairat El-Shater said he had …
Egypt’s Islamist candidate says IMF deal unlikely
By Patrick Werr and Marwa Awad / Reuters CAIRO: Egypt’s Muslim Brotherhood has warned the government it will not support an IMF loan unless the terms are changed or it moves aside and allows a new administration to oversee how the funds are spent, its candidate for president said on Sunday. The government has been negotiating …
No set timeline to conclude Egypt loan talks: IMF
By Reem Abdellatif WASHINGTON: The International Monetary Fund said on Thursday there was no fixed timeline for concluding loan talks with Egypt and insisted that any IMF financing package have the broad support of all political parties in the country. “The timeline for concluding an agreement is not fixed and will depend on how quickly progress …
Parliament, gov’t reach settlement over IMF loan, says report
By Reem Abdellatif CAIRO: After much debate over the $3.2 billion International Monetary Fund (IMF) loan and a year-long stalemate, Egypt’s finance minister finally convinced parliament to accept the loan, official media said. Mumtaz Al-Saeed, Egypt’s minister of finance, has relayed the severity of the country’s economic situation to members of the People’s Assembly convincing the …
Egypt says no IMF agreement until June
By Reuters CAIRO: Egyptian Planning Minister Faiza Abu El-Naga said on Monday that Egypt expected to sign a $3.2 billion financing package with the International Monetary Fund in June, three months later than it had previously hoped. The political and economic turmoil since President Hosni Mubarak was ousted in February 2011 has dragged the country …
Parliament, government disagree on IMF loan
By Aya Batrawy / AP CAIRO: An International Monetary Fund team was due to leave Cairo Wednesday without securing an agreement over a $3.2 billion loan to help boost the nation’s battered economy. Holding up the deal was political wrangling between the Islamist-dominated parliament and the government, an arm of the ruling military. Economists say Egypt …
IMF official says Egypt talks to last a few weeks
By Patrick Werr and Marwa Awad / Reuters CAIRO: Talks over an International Monetary Fund loan for Egypt are continuing and will take a few weeks, rather than days, to conclude, IMF Middle East and Central Asia director Ahmed Masood told Reuters on Monday. Egypt formally requested a $3.2 billion IMF loan earlier this year and …
Egypt hopes for IMF loan; UAE uptrend looks fragile
By Nadia Saleem and Patrick Werr / Reuters DUBAI/CAIRO: After a sharp setback last week, stock markets in the United Arab Emirates have resumed rising in high trading volumes, but some analysts say the rally remains fragile as much of it is speculative and depends on a benign global backdrop. In Egypt, investors will be anxious …