President Sisi meets IMF Managing Director in Dubai on sidelines of COP28

Thu, 30 Nov 2023 - 08:00 GMT

Egypt’s President Abdel Fattah al Sisi met on Thursday upon his arrival in Dubai, to participate in the COP28 Summit, the Managing Director of the International Monetary Fund, Kristalina Georgieva.

Georgieva, the IMF is “seriously considering” augmenting Egypt’s $3B loan

Sun, 19 Nov 2023 - 11:18 GMT

Georgieva’s comments, during the Asia Pacific Economic Cooperation Summit on Friday, backed up media reports in October that stated that Egypt and the IMF were discussing implementing an increase of up to $5 billion

Gaza war impact on Egypt and neighbors “already visible,” IMF chief Georgieva

Wed, 25 Oct 2023 - 11:26 GMT

Highlighting the possible impact on tourism-dependent countries, Georgieva stressed that the uncertainty was a “killer” for tourist revenue inflows

Standard Chartered revises prediction for pound devaluation, says not likely before 2024

Sun, 15 Oct 2023 - 04:56 GMT

The revision comes in light of recent comments by the International Monetary Fund’s Managing Director, Kristalina Georgieva, and Egyptian officials over the past week

Egypt reportedly in talks with IMF to increase current loan to $5B

Sun, 15 Oct 2023 - 11:42 GMT

According to people familiar with the discussions, Egypt is aiming to increase its Extended Fund Facility (EFF) loan from $3 billion to $5 billion, adding that the government is confident that it can address any obstacles related to the current package

Egypt achieves progress on economic fronts: IMF

Thu, 12 Oct 2023 - 05:11 GMT

"Egypt has succeeded. We are currently identifying the challenges to ensure its ability to make further progress and set a date for the review."

IMF lowers Egypt's 2023/2024 growth forecast to 3.6%, expects 4.2% for 2022/23

Tue, 10 Oct 2023 - 11:41 GMT

The IMF anticipates that consumer prices in Egypt will increase from 13.2 percent in the fiscal year ending in 2022 to 35.7 percent 2022/2023, followed by a decrease to 25.9 percent in 2023/2024.

Egypt and IMF agree to merge 1st and 2nd reviews, Reuters

Sun, 24 Sep 2023 - 02:02 GMT

Citing an official statement, Reuters reported that both the IMF and Egypt agreed to merge the reviews and expect a scheduled date before the end of 2023

IMF delays September review says sources

Mon, 18 Sep 2023 - 12:32 GMT

The original date for the first review was initially set for March but was pushed to the end of June, with the second review originally slated for September

IMF allegedly to delay upcoming loan review again, might mean EGP devaluation

Mon, 04 Sep 2023 - 03:30 GMT

This is not the first time the IMF has delayed the review, which was originally slated for March 15, 2023. The source added that, while a new date hasn’t been scheduled, the review will be taking place sometime this year

Egypt’s economy and IMF agreement amid exchange rate uncertainty

Tue, 15 Aug 2023 - 03:43 GMT

Egypt’s economic agreement with the IMF faces delays as the government seeks dollar liquidity and encounters challenges in meeting agreed requirements.

IMF applauds Egypt’s progress with IPO program and measure to address FX shortage

Sun, 16 Jul 2023 - 12:08 GMT

Julie Kozack, Head of the IMF's Communication Department, spoke during a hybrid press briefing held on Thursday, welcoming the progress and emphasizing the significance of divestment in the Extended Fund Facility (EFF)-supported program

Antoinette Sayeh, IMF’s Deputy MD, to visit Cairo next week to discuss reform program

Thu, 08 Jun 2023 - 01:42 GMT

The deputy MD is set to attend the launch of IMF paper “Managing Fiscal Risks in the Middle East and North Africa” on Sunday. The launch is organized by the Ministry of Finance, the Economic Research Forum, and the IMF

EGX gains reflect continued investor optimism in the Egyptian economy

Wed, 10 May 2023 - 02:02 GMT

These gains reflect the continued optimism among investors about the performance of the Egyptian economy.

Egypt 'serious' about adopting flexible exchange rate: IMF official

Wed, 03 May 2023 - 05:17 GMT

“Egypt is working to restore investor confidence in an economy that was damaged by the repercussions of the Russian invasion of Ukraine,” according to Azour’s televised statements.

IMF’s Georgieva says pace of state projects may affect Egypt’s macroeconomic stability

Sun, 16 Apr 2023 - 05:12 GMT

Egypt is preparing for a review of its $3 billion IMF loan in order to receive its second tranche under the Extended Fund Facility (EFF), however, Egypt and the IMF have yet to agree on a review date

IMF expects Egypt's economy to grow 3.7% in 2022/23, 5% in 23/24

Tue, 11 Apr 2023 - 04:22 GMT

In its report on global economic prospects, issued Tuesday, the IMF expected that inflation rates in Egypt would reach 21.6 percent during 2022/2023, declining to 18 percent in 2023/2024.

Egypt's Al-Mashat participates in 2023 Spring Meetings of WBG, IMF in Washington

Mon, 10 Apr 2023 - 03:38 GMT

The Egyptian Minister is scheduled to speak at a number of events and discussion sessions, and to hold a number of bilateral meetings with multilateral and bilateral development partners.

Egypt awaits disbursement of IMF loan's 2nd tranche

Tue, 14 Mar 2023 - 05:09 GMT

It is scheduled that the value of the second tranche of the loan will be the same as the value of the first tranche, which is $347 million.

Offering gov’t companies on EGX ‘positive step’: IMF

Tue, 14 Feb 2023 - 04:43 GMT

Egypt is "one of the innocent countries that were injured by mistake, and that the government did a good job in reforming the country's economy.


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