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IMF approves 4th $2bn tranche of Egypt’s loan

The Executive Board of the International Monetary Fund (IMF) approved today the disbursement of the fourth tranche of the IMF loan to Egypt worth $2bn, as part of the extended $12bn loan facility over three years. The IMF’s approval followed the completion of the third review of the IMF’s economic reform programme, during their visit …

Nevine Kamel

Loans: Who is to blame?      

The government borrows money to meet its short- or long-term needs when there is a budget deficit. This is called debt. So, debt is a bill paid by coming generations in cases of obtaining loans for the purpose of narrowing a budget deficit without aiming to finance development projects. Or it may be a bill …

Ahmed Ezz

IMF completes Egypt’s third review mission, agrees to disbursement of $2bn instalment

The International Monetary Fund (IMF) delegation has reached a staff-level agreement—subject to approval by the IMF’s Executive Board—on the second $2b tranche disbursement of the $12bn loan, bringing total disbursements under the programme to $8bn. The agreement came after the fund’s third review of Egypt’s economic reform programme during the delegation’s visit to Cairo from …

Mohamed Samir

Egypt: Turning potential into performance

The revival of Egypt’s economic fortunes over the past few years has been nothing short of dramatic. The Arab world’s most populous country has devalued its currency and carried out a series of bold, but necessary, reforms to stabilise its economy, stimulate growth, and increase employment. A $12bn loan from the International Monetary Fund (IMF) …

Salah Shamma

IMF Mission Chief For Egypt Subir Lall

Egyptian IPO programme helps attract equity financing for the companies: IMF

IMF Mission Chief for Egypt Subir Lall welcomed the Egyptian authorities’ announcement regarding the initial public offerings (IPO) programme for a number of state-owned companies. On 18 March, Prime Minister Sherif Ismail said that Egypt plans to offer shares of 20 state-owned companies in the next one and half years, 10 of which are already …

Hagar Omran

4 years of fluctuating macroeconomic indicators

The Egyptian economy has gone through a wide range of changes in the past four years, implementing a reform programme backed by a $12bn loan from the International Monetary Fund (IMF) is a turning point. For many Egyptians, 3 November 2016 was an historical day, as the Central Bank of Egypt (CBE) announced the pound’s …

Hagar Omran

IMF negotiates to involve real estate developers in economic housing

Chairperson of the Real Estate Development Chamber Tarek Shoukry revealed that the International Monetary Fund (IMF) is negotiating with real estate developers to encourage involving private developers in providing economic governmental housing. On Tuesday, the IMF began negotiation meetings with key real estate developers to discuss the possibility of participating in an economic housing programme …

Shaimaa Al-Aees