Reform
A session titled "Recovering Stronger, Rebuilding Better: Pathways for a More Secure, Resilient, and Prosperous Africa" was held.
Minister of International Cooperation, Dr. Rania Al-Mashat, participated in a virtual session organized by the World Bank Group, where she referred to the importance of structural reforms and how it helped in achieving an economic recovery that is flexible and sustainable that enabled it to absorb the shocks of the COVID-19 pandemic.
Egypt Economic summit kicked off Tuesday, Nov. 12, in Cairo, under the auspices of Prime Minister Mostafa Madbouli.
"Egyptians' loyalty to Egypt and their rejection of any attempt to erase their national identity are facts that do not change by time," Sisi said.
The prime minister said that cooperation in that sector has been going well so far, stating that he looks forward to including other sectors.
International Monetary Fund experts has recommended the disbursement of the 6th and last tranche of $2 billion to Egypt in their review to its economic reform program.
In his two-day visit to Egypt, Malpass has inspected a number of Egypt's mega-projects, including Benban Solar Park, world’s largest solar park, in Aswan, the statement said.
Two thirds of parliamentarians voted in favor of the proposal to be further discussed.
The ambassador unveiled that charter flights between Lyon and Hurghada will be launched in 2019.
The Trade Minister said the media's active and positive participation contributes to promoting for comprehensive economic development plans.
First Deputy Managing Director of the International Monetary Fund (IMF) David Lipton said growth is at the highest rate since 2008.
A delegation from the IMF is currently visiting Egypt to review progress on economic reforms.
The Planning Minister said the government adopted a comprehensive program for economic and social reform, based on the 2030 Egypt vision.
Egypt targets eight percent industrial growth annually, an equivalent of investments worth LE 150 billion a year, Trade Minister said on Saturday.
The IMF delegation will carry out the third revision of the economic reform program.
Egypt’s foreign reserves stood at $44.029 billion at the end of April for the first time in history, the Central Bank of Egypt (CBE) announced on Thursday.
An International Monetary Fund (IMF) delegation will arrive in Cairo next week to review Egypt’s progress on economic reforms.
The decline also reflects stability in commodity prices, which were largely impacted by the flotation of the Egyptian pound, the Finance Minister said.
The bank agreed to change IBRD’s lending rules to charge higher rates for developing countries with higher incomes, to discourage them from excessive borrowing.
A wrap-up of the most prominent business news of the day.
