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IMF likely to approve final $2bn of Egypt’s loan next Wednesday
The IMF’s board approval of fifth review will allow Egypt to receive the last $2bn tranche of its loan.
Egypt’s GDP grows 5.6%, budget deficit registers 8.2% in FY 2018/19
The ongoing fiscal reforms managed to reduce the budget deficit to 8.2% in FY 2018/19, in continuation to the ongoing down trend from 9.8% in the FY 2017/18 and 12.5% in FY 2015/16.
Why AMF is a good idea and what can be done to get it going?
In our view the AU leaders should also use their meeting to reinvigorate their efforts to create an African Monetary Fund (AMF).
As Egypt’s reforms almost come to an end, Deutsche Bank foresees growth picking 5.9% in FY 20, EGP, private consumption strengthening
Institutional weaknesses, unfavourable external backdrop may weigh in on growth, inflationary pressure to rise, says the bank
G20 finance leaders agree trade tensions have ‘intensified’
International Monetary Fund chief Christine Lagarde said trade tension was the “major” headwind facing the global economy, telling Japan’s Nikkei daily it was a “significant risk on the horizon.”
IMF to remain involved in Egypt’s reform, financing needs remain threat: Standard Chartered
Bank foresees inflation averaging 11.1% in FY 2019/20, further interest rate cuts by CBE
IMF mission completes final review of Egypt’s reform programme for $2bn loan tranche
Fund calls on improving access to finance, industrial land allocation, competition, transparency, management of state-owned enterprises
IMF mission praises Egypt’s tourism structural reform programme
During the meeting, Al-Mashat highlighted the importance of the tourism sector for the growth of countries’ economies, explaining that in Egypt the tourism sector contributes to providing job opportunities for more than three million people and represents 20% of the GDP.
Egypt reaps rewards of structural reforms: OBG
Noteworthy, Egypt has been implementing economic reforms as part of a $12bn three-year programme agreed with the International Monetary Fund (IMF) in November 2016, including the cuts to energy subsidies and pound floatation, as well as the introduction of the value-added tax.
IMF’s mission to conclude by new subsidy cut, no taxes, job creation
The International Monetary Fund’s (IMF) delegation has arrived in Cairo on Monday to conduct the sixth and final review before disbursing the last $2bn tranche of a $12bn extended fund facility. The visit lasts for 10 days, in which the IMF’s delegation will hold meetings with the leaders of the ministry of finance to discuss …
Investing in people helps to share in benefits of economic growth, technological progress
Only 1.7% of country’s public investment are injected in infrastructure, says Lagarde
IMF fourth review confirms economic programme on right track: Pharos
Pharos Holding For Financial Investments issued a report commenting on the International Monetary Fund’s (IMF) fourth review of Egypt’s economic reform programme, stating that the programme is broadly on right track. All of the June and December 2018 performance criteria and indicative targets were fully met, with the exception of June’s target on public debt. …
Egypt has discipline, adheres to economic reforms with no need for another IMF loan: Ghali
‘I am trying to solve the problems and cases raised against me and I hope to return to Egypt,’ says Egypt’s ex-Finance Minister
Egypt made great progress under its reform programme: Lagarde
Egyptian people sacrificed a lot to restore stability, says IMF
Egypt’s economic indicators improved in last two years: Azour
Egypt should focus on non-petroleum sectors to attract FDIs, says IMF Director of Middle East
IMF prides itself on success of Egypt’s economic reform programme: IMF Executive Director
Fund ready to help Egypt in the future, says Beblawi
Egypt signs agreement with Euroclear to facilitate purchase of government debt instruments: Moeit
State increased government investments in national projects by 40% in FY 2019/20
IMF assures helping Egypt to go forward to maintain stability, growth: Lagarde
Al-Sisi requests Lagrade’s assistance to promote young people’s entrepreneurship, give them space, freedom to operate to contribute to Egypt’s economic development
Spring meetings: IMF urges policymakers to prepare for slower growth through smart decisions, cooperative work
Washington, DC- Thousands of delegates and officials have arrived in Washington, DC, for the spring meetings of the International Monetary Fund (IMF) and World Bank, which is taking place from 8 to 14 April. The spring meetings of the boards of governors of the World Bank Group and the IMF bring together central bankers, ministers of …
IMF has always helped countries during economic difficulties: Lagarde
Washington DC– IMF has helped the countries through their economic difficulties, said Christine Lagarde Managing Director of the International Monetary Fund (IMF) on Wednesday. Lagarde added that after 75 years of cooperation since the IMF was established systems have changed and adapted from exchange rates of currency to the gold standards system in 70th to reform …
Emerging market bond indices have quadrupled in past 10 years to $800bn: IMF
House price hikes in Egypt due to currency devaluation, inflation, correction expected, says IMF’s financial counsellor
Lagarde praises Egypt’s success in implementing economic reform measures
Al-Sisi to continue his tour and expected to land in Ivory Coast
World economic growth projected to pick up in H2 of 2019: IMF
Global growth softened to 3.6% in 2018, predicted to decline further to 3.3% in 2019, says Gopinath
Egyptian economy growing at very reasonable rate: IMF
Washington DC – Gian Maria Milesi-Ferretti, the deputy director in the Research Department of the International Monetary Fund (IMF), told Daily News Egypt that Egypt’s economy is doing well as it is growing at a very reasonable rate. Milesi-Ferretti noted that, however, it was a difficult moment for emerging markets earlier in 2018 due to capital …
Egypt’s economic growth to record 5.5% in 2019: IMF
Washington, DC – Egyptian economy will grow by 5.5% this year, the International Monetary Fund (IMF) said in its World Economic Outlook (WEO) April 2019, unchanged from its expectations in October 2018. Further, the IMF expected that the country’s economic growth will reach 5.9% in 2020. However, Egypt’s economic growth forecast was estimated at 6% in …
Egypt’s economy on right track, fuel subsidy reform advancing: IMF fourth review
Authorities to reform its pension system by end of June, new tax regime for SMEs to be approved by parliament
Egyptian parliament delays approval of CBE Law
IMF assists Egypt to modernise CBE, banking sector
More measures to be done to make Egypt attractive private investment destination: IMF
FDIs likely to record $9.5bn in FY 2018/19
EGP’s abrupt depreciation may adversely affect public debt: IMF
Risks increase with recent tightening of global financial conditions
Egyptian authorities express readiness to make additional reforms
Targets were met except for end-June accumulation of budget sector debt