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Finance Minister Mohamed Moeit

IMF approves $2bn loan tranche to Egypt: Minister of Finance

The Executive Board of the International Monetary Fund (IMF) approved the disbursement of $2bn to Egypt as the fifth tranche of its $12 loan, the Minister of Finance, Mohamed Moeit, announced on Monday. So far, Egypt has received $10bn from the extended $12bn loan facility signed in 2016. Moeit said that Egypt is expected to …

Daily News Egypt

IMF staff finalises details required to approve next $2bn for Egypt

The International Monetary Fund’s (IMF) staff team has finalised the details required to present the fourth review for Egypt’s Extended Fund Facility arrangement to the IMF’s Executive Board, the Managing Director of the IMF, Christine Lagarde, said on Friday. “The Board will meet in the coming weeks to discuss the review and I will recommend …

Hagar Omran

Stable outlook for Levant, North Africa in 2019, although slowing reforms point to downside risks: Moody’s

The 2019 stable outlook for sovereign creditworthiness in the Levant and North Africa region reflects support from modest domestic growth and some expected further progress on fiscal consolidation, set against the slowing pace of structural and fiscal reforms in most countries, Moody’s Investors Service said in a report on Tuesday. The report titled, “Sovereigns – …

Daily News Egypt

“Fuel subsidy reform plays a key role in fiscal consolidation”: IMF

In its third review under the extended arrangement in accordance with the Extended Fund Facility issued in July 2018, the International Monetary Fund (IMF) assured that the ongoing energy subsidy reform continues to play a key role in fiscal consolidation. It clarified that the fuel subsidy bill has decreased from 3.3% of the GDP in …

Daily News Egypt