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Writers in different newspapers have praised the newly established national revolutionary bloc and its objectives to protect the 25 January Revolution demands. On another level some commentators called upon Egyptians to decide their own destiny, rather than waiting for a devoted leader to come save the country. The national revolutionary movement bloc Mohamed Salmawi …
US officials stated that Egypt’s economic problems can be traced back to the country’s widespread political divisions
IMF has it wrong on Egypt
Hegazy: ‘It is our right to receive the full $4.8bn loan’
IMF may offer a ‘bridge loan’ to Egypt in the meantime as short term financing solution
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
US Ambassador to Egypt Anne Patterson called the deal a ‘down payment on Egypt’s promising future’
Egypt has cut back on a total of nine million barrels of imported oil for the second quarter of the year, without any official explanation
Egypt’s Catch 22
Egypt’s government is currently working with the Central Bank to link foreign currency reserves to the country’s fuel and wheat imports for a period of 3 months, while engaging in negotiations with the IMF over the pending $4.8bn loan.
Kerry said the move represented ‘a good-faith effort to spur reform and help the Egyptian people at this difficult time’
US Secretary of State John Kerry met a number of opposition figures and Egypt’s foreign minister on Saturday and called for all political figures to unite to emerge from the current economic crisis
Standard and Poor’s was the first credit ratings agency to respond to the crisis, cutting Tunisia’s sovereign rating from BB to BB- with a negative outlook, citing “the risk of seeing the political situation deteriorate further”.
Minster of Investment Ossama Saleh said that Egypt hopes to conclude the deal by the end of April
The tax on transactions will have a ‘disasterous’ effect on an already suffering market, they say
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
The credit-rating agency is maintaining the rating on review for possible further downgrade
Budget will not take into account the loan or other international aid that depends on it, since the deal has yet to be ratified
Before his departure León reiterated the EU’s commitment to aiding the democratic transition in Egypt
The global economy faces fewer headwinds in 2013 compared to last year but is likely to experience a period of weak growth, according to experts.
The delegation is discussing progress made on deals struck last November for financial assistance to Egypt
By: Farah Halime Billions of dollars of financing earmarked for Egypt is mounting up behind an International Monetary Fund (IMF) dam. Until Egypt agrees a final deal with the IMF for a $4.8 bn loan package, none of the estimated $14.5 bn in additional financial support and aid will be released. The effects of the …
The government is in the process of updating the economic plan it presented to the International Monetary Fund (IMF) in an attempt to secure the $4.8 billion loan desperately sought by Egypt. “One part is to see, go back and revisit those measures that they had put on hold, which they need to reinstate” and …
McCain meets president after talks with opposition figures over “economic and political developments”
President of the Egyptian-European Council Mohamed Abou El Enein discussed the need to improve security in Egypt, particularly in touristic regions, in addition to increasing the flow of investment into the country by providing incentives to businessmen.
Fixing a mud house in the rainy season
Egypt’s economy has nosedived as investment from abroad has dried up and key revenue-earner tourism has taken a major tumble
By Philip Whitfield Undressing the tree, the Christmas cards tease. Bundle and bung? Or pause wistfully. The ones from Palestine are most inclining. Not from bullyboys or assassins. They hail from everyday folk. One draws most attention. The writer points out that when O little town of Bethlehem is sung seldom think of today’s city …
By Mahmoud Kasas Experts in finance and investment banking agreed that the government’s recent decision to postpone the signing of the $4.8 billion IMF loan will have a negative impact on the country’s economic climate. “Postponing the loan will deter investors seeking to do business in Egypt,” said CEO of CI Capital investment bank, Mahmoud …