Latest in Tag: International Monetary Fund Highlight
Latest in Tag: International Monetary Fund
Government to adopt new economic stimulus package
Minister of Finance says package would focus on industry, housing and construction, communication and tourism sectors
Egypt still in need of financial assistance: International Monetary Fund
Financial aid could come from Gulf countries, the IMF or other financial institutions, says IMF’s chief of mission in Egypt
IMF’s Egypt strategy ill-suited to realities on the ground: ECESR
Regional economic experts say fund’s demands for near-term subsidy cuts not viable
G20 vows to add $2tn to world economy to lift growth
US Treasury Secretary Jack Lew stressed at a press conference that the G20 had left the austerity debate behind and was fully focused on growth.
IMF delegation to visit Egypt in January
The delegation will resume talks about Value Added Tax draft law
IMF reaffirms support for Egypt amid criticism from CBE governor
William Murray, the deputy spokesman at the IMF could not expound on the topic but asserted that the IMF’s relationship with Egypt remains strong.
IMF studies Egypt’s economy and development
IMF: The political uncertainly Egypt underwent has clouded the economic outlook and impacted the policy performance.
Egypt cuts IMF delegation in political protest
PM Hazem El-Beblawi says negotiations are ongoing over whether IMF will recognise current government
Finance minister promises no new taxes
Galal announced that no property taxes or income taxes would be modified “in order to not harm the economy.”
IMF waiting for the “right time” for loan negotiations
The global lender said all discussions are being held with the technical team from the Central Bank of Egypt and the Ministry of Finance
IMF expects Egypt economy to slow next fiscal year
The report predicted that annual inflation rates would increase by the end of this year to 10.8%, compared to 8.4% in the previous fiscal year
Inflation hikes to 8.1% in April on currency slide
Egypt’s Central Bank decided to keep overnight deposit and lending rates unchanged at 9.75% and 10.75%, respectfully
New $12bn bonds programme announced
The prospectus tasked HSBC Holdings and QNB Global with the rights to organise and administer the programme
The IMF conundrum: austerity and unrest
Accepting the International Monetary Fund loan in Egypt means testing the public’s willingness to endure a harsh economic climate
IMF: Tax reforms to increase Egypt’s GDP by 0.75%
The IMF expected Egypt’s GDP to grow 2% over the next year as opposed to 2.2% in 2012
IFC launches Women’s Finance Hub
Online initiative helps women entrepreneurs gain access to financing
IMF cuts world growth forecast
“We are in a better place but… we’re not out of the woods,” said Olivier Blanchard, IMF chief economist
IMF delegation meets with Al-Wafd Party
Party suggests delaying economic reform programme for one year, tells IMF they ‘do not trust government’
El-Badawi repeats his party’s demands
Al-Wafd Party chairman calls for replacement of the prosecutor general and the formation of a new government before elections and dialogue
Ashton meets president, opposition figures
The EU High Representative for Foreign Affairs and Security Policy Catherine Ashton says she is concerned about sectarian violence in Egypt
Economic experts condemn cooking gas cylinder price rises
One expert warns Egypt already in midst of ‘a revolution of the hungry’, another calls the price rises ‘a ticking time bomb which will explode in the face of the government’
Balance of payments deficit drops 93% in 2012-13
The Central Bank of Egypt cited increased remittances from Egyptians working abroad this year as the main reason for the drop in the deficit
IMF not satisfied with Egypt’s economic reform plans
A government source revealed last week that the IMF is displeased with Egypt’s implementation of its economic and social reform programme, raising concerns of further negotiations over the loan
IMF loan talks to resume in March
IMF loan negotiations with Egypt are to resume early March after talks were postponed due to the country’s political turmoil and economic slump, Morsi’s recent austerity measures aim to make Egypt eligible for the loan
Government to discuss final draft of economic programme next week
The country’s cabinet will then send a letter to the IMF with details of the revised programme in order to resume negotiations over the pending $4.8bn loan
EFG Hermes: Egypt’s economy will grow 3.5% in 2013
The acceptance of Egypt’s pending IMF loan will have a positive effect on the economy and there will be an increase in tourism and FDI throughout the year, says EFG
Government sets quotas on subsidised fuel
Egypt’s government is currently undergoing a subsidies reform program in order to help close its budget deficit and secure the obtainment of its pending $4.8bn International Monetary Fund (IMF) loan
Moody’s downgrades Egyptian government bonds to B3
The credit-rating agency is maintaining the rating on review for possible further downgrade
IMF loan will not be included in next year’s budget
Budget will not take into account the loan or other international aid that depends on it, since the deal has yet to be ratified
Bernardino León concludes visit to Egypt
Before his departure León reiterated the EU’s commitment to aiding the democratic transition in Egypt