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Government seeks to complete the development of the Suez Canal on schedule within its efforts to increase resources and reduce unemployment
The country ranks 150 out of 186 countries on the 2013 UNDP’s Human Development Index, which measures countries based on income, life expectancy and education.
Economist writes in report published on IMF website that sustainable and inclusive growth requires both short-term and long-term measures
Government cutting energy subsidies, preparing diesel and gasoline price increases, likely to exacerbate suffering of 26% of Egyptians under poverty line
Minister of Finance says package would focus on industry, housing and construction, communication and tourism sectors
Financial aid could come from Gulf countries, the IMF or other financial institutions, says IMF’s chief of mission in Egypt
Regional economic experts say fund’s demands for near-term subsidy cuts not viable
US Treasury Secretary Jack Lew stressed at a press conference that the G20 had left the austerity debate behind and was fully focused on growth.
The delegation will resume talks about Value Added Tax draft law
William Murray, the deputy spokesman at the IMF could not expound on the topic but asserted that the IMF’s relationship with Egypt remains strong.
IMF: The political uncertainly Egypt underwent has clouded the economic outlook and impacted the policy performance.
PM Hazem El-Beblawi says negotiations are ongoing over whether IMF will recognise current government
Galal announced that no property taxes or income taxes would be modified “in order to not harm the economy.”
The global lender said all discussions are being held with the technical team from the Central Bank of Egypt and the Ministry of Finance
The report predicted that annual inflation rates would increase by the end of this year to 10.8%, compared to 8.4% in the previous fiscal year
Egypt’s Central Bank decided to keep overnight deposit and lending rates unchanged at 9.75% and 10.75%, respectfully
The prospectus tasked HSBC Holdings and QNB Global with the rights to organise and administer the programme
Accepting the International Monetary Fund loan in Egypt means testing the public’s willingness to endure a harsh economic climate
The IMF expected Egypt’s GDP to grow 2% over the next year as opposed to 2.2% in 2012
Online initiative helps women entrepreneurs gain access to financing
“We are in a better place but… we’re not out of the woods,” said Olivier Blanchard, IMF chief economist
Party suggests delaying economic reform programme for one year, tells IMF they ‘do not trust government’
Al-Wafd Party chairman calls for replacement of the prosecutor general and the formation of a new government before elections and dialogue
The EU High Representative for Foreign Affairs and Security Policy Catherine Ashton says she is concerned about sectarian violence in Egypt
One expert warns Egypt already in midst of ‘a revolution of the hungry’, another calls the price rises ‘a ticking time bomb which will explode in the face of the government’
The Central Bank of Egypt cited increased remittances from Egyptians working abroad this year as the main reason for the drop in the deficit
A government source revealed last week that the IMF is displeased with Egypt’s implementation of its economic and social reform programme, raising concerns of further negotiations over the loan
IMF loan negotiations with Egypt are to resume early March after talks were postponed due to the country’s political turmoil and economic slump, Morsi’s recent austerity measures aim to make Egypt eligible for the loan
The country’s cabinet will then send a letter to the IMF with details of the revised programme in order to resume negotiations over the pending $4.8bn loan
The acceptance of Egypt’s pending IMF loan will have a positive effect on the economy and there will be an increase in tourism and FDI throughout the year, says EFG