Latest in Tag: Loan Highlight
Latest in Tag: Loan
Egypt to receive first instalment of Turkey’s pledged $2bn loan
The Turkish loan to Egypt has triggered a political crisis in Turkey.
Egypt close to agreement with IMF
An agreement on the proposed $4.8 billion loan to Egypt could be reached by mid-November, according to director of the International Monetary Fund (IMF), Christian Lagarde. Lagarde spoke to Egyptian reporters on Thursday in a press briefing that was held during the joint meeting of the IMF and the World Bank in Tokyo. “As you …
Morsy and IMF chief confirm independence of Egypt’s economic policy making
By Noah Chasek-Macfoy International Monetary Fund Director Christine Lagarde confirmed on Saturday that there are no preconditions placed on Egypt before the expected arrival of an IMF delegation at the beginning of next month to discuss Egypt’s request for $4.8 loan. Lagarde’s comments were made after attending a meeting with GCC countries in Riyad. Egypt …
Egypt Discusses a New Loan with the World Bank
By Mohamed Salah The Egyptian government has started negotiating loan with the World Bank to finance the privatisation and restructuring of the public sector. The former International Monetary Fund’s assistant managing director, Dr. Fakhry El-Fekky, said the government may have to continue the privatisation process started by the previous governments. He said there are indicators …
Turkish loan signals strengthening ties
President Mohamed Morsy signed a $1 billion loan agreement as the first step in a financing deal that comes amid high-level cooperation between the two countries.
Morsy’s Turkey meeting could signal new partnership
AKP party a potential role model for development
Government will not wait for an elected parliament to sign IMF loan agreement
Cabinet spokesperson: “President Morsy currently has legislative authority in the absence of the People’s Assembly and can ratify international agreements”
The Economist: Egypt third most indebted nation in the world
By Hend El-Behary Egypt is the third most indebted country in the world, according to the Economist magazine. Egyptian public debt currently stands at US$206.999 billion, which amounts to 82 per cent of GDP. The current economic status could drive Egypt into full financial crisis, the magazine reported. Spain and Greece were the first equal …
Leftist groups march for “the rights of Egyptians”
Saturday march from Tala’at Harb Square focus on five demands
Turkey bolsters Egypt’s coffers
The Turkish government has agreed to inject US two billion into Egypt’s ailing economy following the visit of an Egyptian delegation to Istanbul for the purpose of strengthening Turkish-Egyptian economic ties. The government’s quest to bridge the state budget deficit and promote economic growth was recently manifested by a request to increase the proposed International …
Morsy in Brussels seeking EU aid
The EU is Morsy’s second destination after China as he seeks foreign funding
Review: columnists observe Morsy’s attitude, IMF loan, and Coptic community
Egyptian opinion writers have explored a variety of topics that relate to President Morsy’s surprising moves, starting from his first trip to Saudi, to his latest in Iran. Many columnists continue to dissect Egypt’s internal platform with regards to the growing fears of the Coptic community in the country. Others criticise the acceptance of the …
Three strikes and you’re out
Teachers, factory workers, and engineers hold three separate protests in front of cabinet
Tour guides call for restoring security
Protest in front of Egyptian Museum calling for the restoration of security at tourist sites
Khaled Ali sues President Morsy to reveal IMF loan information
Khaled Ali defends people’s right to know about IMF loan in a lawsuit against President Morsy
Ministry of Finance to present its economic platform to the IMF shortly
MOF finalising the economic platform necessary for obtaining the $4.8b IMF loan
Accepting the IMF Loan: an Exception or Economic Policy?
Logically speaking, a more transparent treatment of the loan deal would have allowed for a general discussion on all of the deal’s implications on the public realm
Morsy’s visit to China yields fruitful outcome
Seven co-operation agreements, $70m grant, are the major achievements of the visit
Debate over IMF loan persists
By Islam Serour Fears of negative consequences attached to the IMF loan is fuelling debate among Egypt’s business and economic community. Some worry the loan could worsen national debt if the Egyptian pound were to be devalued, while others debate whether the government should focus more on the country’s domestic fiscal position rather than relying …
IMF loan, reforms ‘both vital for Egypt’
IMF to yield positive results, shall Morsy enact reforms, say analysts
Ministry of Finance issues treasury bills and bonds worth EGP 135 billion
By Islam Serour The Ministry of Finance announced Saturday an issue of treasury bills and bonds with a total value of EGP 135.228 billion, which was auctioned by the Central Bank of Egypt (CBE) between April and June, in the final quarter of the 2011-2012 financial year. According to the statement by the Ministry, the …
Lagarde on IMF loan: No discussions over details
Presidential spokesman Yasser Ali: Morsy has officially requested to increase loan from $3.2 billion to $4.8 billion
Protests against IMF chief visit to discuss loan.
Revolutionary socialists reject $4.8bn IMF loan, criticise Lagarde visit to Egypt
IMF Managing Director arrives in Cairo
Lagarde to meet Hesham Qandil, Morsy to discuss economic and reform programme
IMF Managing Director to visit Egypt
By Islam Serour Managing Director of the International Monetary Fund (IMF), Christine Lagarde, is scheduled to visit Cairo on 22 August for further discussions with President Mohamed Morsy over a possible IMF loan to Egypt. It has been reported that an IMF mission, led by Masood Ahmed, the IMF director for Middle East and Central …
National Bank for Development aids the completion of new electricity plant
The National Bank for Development (NBD) called on banks holding Islamic licenses to participate in granting an Islamic loan of $120 million to the East Delta Electricity Production Company (EDEPC). Some of the banks expected to participate in the loan include Alwatany Bank of Egypt, the Egyptian Gulf Bank and United Bank. The loan’s period …
Banks lend more attention to financing the private sector
The significant reduction in bank loans to the petroleum and electricity sectors has opened up the chance for other economic sectors in need of financing.
€50m French loan to expand electricity grid
By Islam Zayed The French Ambassador to Egypt, Nicolas Galey, and Pierre Marcelli, director of the French Development Agency (FDA)’s office in Cairo, signed an agreement to provide a €50m soft loan to the Egyptian government. The loan will be provided in cooperation with the World Bank, the European Investment Bank, and the German …
Islamic Trade lends Egypt USD 1bn to meet rising demand of consumer goods
The Egyptian government signed a final agreement with the International Islamic Trade Finance Corporation (ITFC), a member of the Islamic Development Bank group, for a one billion dollar loan to finance Egypt’s hydrocarbon and consumer goods. Minister of Planning and International Cooperation, Fayza Aboul Naga, considered the terms of the loan favourable, as the ITFC …
IMF ‘ready to support Egypt’ under new leadership
International Monetary Fund is ready to help Egypt to restart growth