Latest in Highlight

Advertising Area

Latest in

IMF loan talks to resume

This loan will be a certificate of trust for the Egyptian economy, it proves that Egypt can repay its loans, so they can seek more loans

Liliana Mihaila

IMF deal approval delayed

The International Monetary Fund said that Egypt had asked to delay its request for a $4.8 billion loan agreed in November as violent protests mount in Cairo ahead of a referendum on the constitution

Liliana Mihaila

The IMF loan in the context of economic reform

The air of ambiguity surrounding Egypt’s receipt of the IMF loan provides a distraction from what the loan is really about, and the clandestine nature of the negotiations goes a long way towards substantiating the true objective of the loan. For the sake of dodging bouts of public rage in times when they’re as frequent …

Mohamed El-Bahrawi

Activists protest IMF loan

Protesters from several movements took to the streets in rejection of the IMF loan proposal, days after the IMF chief visited Cairo and met top officials.

Hend Kortam

IMF lifeline, a test for Morsy

For many Egyptians, life was tough under the former regime of President Hosni Mubarak. Now it’s even tougher and things are likely to get worse before they get better

Shahira Amin

IMF needs solid Cairo support for loan: Lagarde

By AFP WASHINGTON: IMF chief Christine Lagarde said Thursday that the global lender needs solid support from Cairo’s authorities for a truly viable program if it is to lend Egypt money. “I want to help Egypt, no question about it,” Lagarde told journalists in Washington after being asked what was holding up a $3.2 billion …


Analysis: Egypt’s Brotherhood raises stakes by excluding IMF

By Patrick Werr /Reuters CAIRO: In all but ruling out an early agreement on an IMF loan, Egypt’s Muslim Brotherhood has dramatically raised the stakes in its struggle with the army-led administration for control of a country still reeling from a year of political turmoil. The Brotherhood’s candidate for president, Khairat Al-Shater, said this week the …


Egypt finance minister expects to get IMF loan by end-June

By Reuters CAIRO: Egypt’s government expects to seal a loan from the International Monetary Fund by May 15, allowing the money to be disbursed before a new president is sworn in at the end of June, the country’s Finance Minister Mumtaz Al-Saeed said on Thursday. “We expect to get approval of the IMF loan before …


IMF says Egypt needs to agree on new budget

By AFP WASHINGTON: The International Monetary Fund said Tuesday that Egypt’s divided politicians needed to agree on a new budget before it can offer financial support for the country. In a statement following a staff mission to Cairo, the IMF said Egyptian authorities had made progress on their economic program, which it said “appropriately aims …


Brotherhood holds Egyptian army to ransom on aid

By Una Galani / Reuters Breakingviews DUBAI: Egypt’s Muslim Brotherhood is holding the army to ransom. The moderate Islamist movement, which won almost half the seats in recent parliamentary elections, says it won’t support a $3.2 billion aid deal with the International Monetary Fund. It has demanded new terms, or asked the army to step aside …


Egypt stocks drop to 8-week lows on funding fears

By Tom Pfeiffer and Patrick Werr / Reuters CAIRO: Egyptian stocks fell to eight-week lows on Monday after the Muslim Brotherhood challenged the government to change the terms of an emergency IMF loan, showing political powers remain far apart on how to stave off a payments crisis. Muslim Brotherhood presidential candidate Khairat El-Shater said he had …


Egypt’s Islamist candidate says IMF deal unlikely

By Patrick Werr and Marwa Awad / Reuters CAIRO: Egypt’s Muslim Brotherhood has warned the government it will not support an IMF loan unless the terms are changed or it moves aside and allows a new administration to oversee how the funds are spent, its candidate for president said on Sunday. The government has been negotiating …


No set timeline to conclude Egypt loan talks: IMF

By Reem Abdellatif WASHINGTON: The International Monetary Fund said on Thursday there was no fixed timeline for concluding loan talks with Egypt and insisted that any IMF financing package have the broad support of all political parties in the country. “The timeline for concluding an agreement is not fixed and will depend on how quickly progress …


Parliament, gov’t reach settlement over IMF loan, says report

By Reem Abdellatif CAIRO: After much debate over the $3.2 billion International Monetary Fund (IMF) loan and a year-long stalemate, Egypt’s finance minister finally convinced parliament to accept the loan, official media said. Mumtaz Al-Saeed, Egypt’s minister of finance, has relayed the severity of the country’s economic situation to members of the People’s Assembly convincing the …


Egypt says no IMF agreement until June

By Reuters CAIRO: Egyptian Planning Minister Faiza Abu El-Naga said on Monday that Egypt expected to sign a $3.2 billion financing package with the International Monetary Fund in June, three months later than it had previously hoped. The political and economic turmoil since President Hosni Mubarak was ousted in February 2011 has dragged the country …


Parliament, government disagree on IMF loan

By Aya Batrawy / AP CAIRO: An International Monetary Fund team was due to leave Cairo Wednesday without securing an agreement over a $3.2 billion loan to help boost the nation’s battered economy. Holding up the deal was political wrangling between the Islamist-dominated parliament and the government, an arm of the ruling military. Economists say Egypt …


IMF official says Egypt talks to last a few weeks

By Patrick Werr and Marwa Awad / Reuters CAIRO: Talks over an International Monetary Fund loan for Egypt are continuing and will take a few weeks, rather than days, to conclude, IMF Middle East and Central Asia director Ahmed Masood told Reuters on Monday. Egypt formally requested a $3.2 billion IMF loan earlier this year and …


Egypt hopes for IMF loan; UAE uptrend looks fragile

By Nadia Saleem and Patrick Werr / Reuters DUBAI/CAIRO: After a sharp setback last week, stock markets in the United Arab Emirates have resumed rising in high trading volumes, but some analysts say the rally remains fragile as much of it is speculative and depends on a benign global backdrop. In Egypt, investors will be anxious …