Latest in Tag: Loan Highlight
Latest in Tag: Loan
Raising interest rates shakes markets, disturbs business community
Businesspeople outraged amid expectations that debt payments will increase by EGP 30bn
EGBANK signs $20m loan agreement to finance SMEs
The European Investment Bank is to finance the loan that will be entirely dedicated to SMEs
IMF, Egypt reach a staff level agreement to unlock next loan tranche
A new vote of confidence in local economy to incur more foreign inflows, says Tarek Amer
Egypt to receive 2nd tranche of IMF loan by June: El-Garhy
Egypt to issue international treasury bonds by end of May or beginning of June, says Minister of Finance
Unpredictable future of IMF loan
The IMF is to pay a visit to Egypt on 28 April after postponing it for the third time
Government wants World Bank to accelerate approving loan’s 3rd tranche
Egypt also asked the World Bank to expand its financing for developing projects in Upper Egypt
Industrial sector acquires 27.98% of bank loans
Government institutions are the second largest sector in terms of obtaining bank loans, followed by the services, household, and trade sectors, while agriculture came in last
Nasr negotiates for 3rd tranche of World Bank’s loan
Egypt targets implementing reforms to improve its rank in the next Doing Business Report, says Nasr
Audi Egypt to increase loan portfolio by EGP 4.5bn by end of 2017
We granted EGP 2bn to SMEs and we support the industrial sector, says Fayed
Bank Audi Egypt signs MOU with European Investment Bank for $30m loan
Flotation boosts Bank Audi Egypt profits to EGP 1.88bn at the end of 2016
EG Bank achieves 130% loan portfolio increase and 97% deposit increase
The bank’s total assets rise to EGP 45.16bn by the end of 2016, a 93% increase compared to 2015
Any delays of the IMF’s conditions might negatively affect Egypt: Tawfik
To measure the progress achieved by the Egyptian government, the International Monetary Fund (IMF) is scheduled to pay a visit to Egypt in April. Through this visit, the IMF’s delegation will decide whether or not Egypt would be entitled to receive the second part of the $12bn loan’s first tranche. But what if the delegation …
Increase of EGP 63.8bn in loans, EGP 51bn in deposits at Banque Misr
Bank achieved the highest profits in its history, a total of EGP 10.2bn, pays EGP 4.7bn in taxes
EBRD lends NBD–Egypt $125m to support its capital base and stimulate growth
Emirates NBD-Egypt and the European Bank for Reconstruction and Development (EBRD) signed an agreement for a $125m subordinated loan to augment Emirates NBD Egypt’s capital base and support its growth strategy aimed at becoming a leading private sector bank in Egypt. The subordinated loan qualifies as a tier 2 capital as per the recently modified …
Egypt is making good progress in the loan programme, IMF
Christine Lagarde, head of the International Monetary Fund (IMF), said on Monday that Egypt is making good progress in the $12bn loan programme, noting that the currency is likely to stabilise after months of depreciation. Lagarde said in an interview during a visit to Dubai that the IMF sees good, noticeable progress by the Egyptian …
Egypt to receive 2nd tranche of AFDB loan within two weeks: AFDB
The government also called for AFDB to finance a sewage plant in Abu Rawash
IDWBE negotiates with international companies to reform administrative structure
I assumed chairmanship of the bank in April 2016 with deferred losses of EGP 1.5bn and a supportive loan of EGP 2.5bn from CBE, says Fahmy
6 things to consider when applying for a car loan in Egypt
Here are few things you should consider while applying for a car finance scheme
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
IMF financing alone will not be sufficient to stabilise US dollar: BOFAML
The report issued by BOFAML said that it expects the CBE to consider further rate hikes if US dollar neared EGP 20
Protecting the Vulnerable During Egypt’s Economic Reform
Restoring economic stability is not easy, as Egypt’s President Sisi has said many times. The country faces three interlinked problems: an urgent balance of payments problem—which means more foreign currency has been going out the door than coming in—rising public debt, as well as low growth and high unemployment. With help from the IMF, Egypt has …
Egypt’s foreign debt expected to reach $102bn after implementation of reforms: IMF
Egypt’s foreign debt had reached the $55.7bn mark in fiscal year (FY) 2015/2016
Egypt is moving in a new economic direction, reforms are hard but necessary: Chris Jarvis
Foreign exchange and inflation rates exceeded the IMF’s preliminary predictions; IMF may have miscalculated the foundations of the Egyptian economy
Egypt approves publishing details of $12bn loan next week: IMF
A technical delegation from the fund is in Egypt to follow up on the implementation of the economic reform programme this week, says government sources
IMF deal eases Egypt’s market pressure along with other frontier markets: Fitch Ratings
IMF support has played an important role in reducing external liquidity risks, medium-term default risks in Egypt, and several frontier markets that entered into new programmes in 2016, according to a Fitch Ratings press release on Friday. However, the press release indicates that each country’s compliance with IMF conditions will decide the potential improvement in …
Egypt, Word Bank sign agreement for 2nd tranche of the $3bn loan
The loan will be put towards funding social safety net programmes and promoting small- and medium-sized enterprises
Egypt to receive 2nd tranche of African Development Bank loan
On Monday, the Minister of International Cooperation Sahar Nasr signed an agreement with Leila Mokaddem, resident representative of the African Development Bank (AFDB) to receive $500m as the second tranche of a $1.5bn loan. The loan was agreed on last year. The tranche will be given to Egypt in January 2017, according to Prajesh Bhakta, …
IMF-backed reform programme is Egypt’s best shot but poses high potential risk: FocusEconomics
November was a month of interesting developments for Egypt, from the Central Bank of Egypt’s (CBE) decision to float the national currency, to the International Monetary Fund’s (IMF) approval of the $12bn loan, a correction of external balances, and an expected soaring fiscal deficit. According to FocusEconomics Consensus Forecast for the Middle East and North …
In Cartoon: Egyptians sell the clothes off their backs to the IMF
How should the government pace its reforms after the IMF loan approval?
On 11 November, the executive board of the International Monetary Fund (IMF) approved a $12bn three-year extended fund facility for Egypt, in support of the government’s economic reform programme. Ever since negotiations with the IMF started, the government has implemented a number of economic reforms, including passing the civil service and value-added tax laws, floating …