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The IMF’s board approval of fifth review will allow Egypt to receive the last $2bn tranche of its loan.
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.
In our view the AU leaders should also use their meeting to reinvigorate their efforts to create an African Monetary Fund (AMF).
Institutional weaknesses, unfavourable external backdrop may weigh in on growth, inflationary pressure to rise, says the bank
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.”
Bank foresees inflation averaging 11.1% in FY 2019/20, further interest rate cuts by CBE
Fund calls on improving access to finance, industrial land allocation, competition, transparency, management of state-owned enterprises
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.
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.
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 …
Only 1.7% of country’s public investment are injected in infrastructure, says Lagarde
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. …
‘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
Egyptian people sacrificed a lot to restore stability, says IMF
Egypt should focus on non-petroleum sectors to attract FDIs, says IMF Director of Middle East
Fund ready to help Egypt in the future, says Beblawi
State increased government investments in national projects by 40% in FY 2019/20
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
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 …
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 …
House price hikes in Egypt due to currency devaluation, inflation, correction expected, says IMF’s financial counsellor
Al-Sisi to continue his tour and expected to land in Ivory Coast
Global growth softened to 3.6% in 2018, predicted to decline further to 3.3% in 2019, says Gopinath
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 …
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 …
Authorities to reform its pension system by end of June, new tax regime for SMEs to be approved by parliament
IMF assists Egypt to modernise CBE, banking sector
FDIs likely to record $9.5bn in FY 2018/19
Risks increase with recent tightening of global financial conditions
Targets were met except for end-June accumulation of budget sector debt