Flexible exchange rate helps stabilize commodity prices, avoid random pricing: Expert

Thu, 12 Jan 2023 - 10:11 GMT

The US dollar price started with a surge recording LE 32, and then decreased to LE 29.67 on Wednesday.

IMF expects Egypt's economy to grow by 5.9% in 2025/2026

Wed, 11 Jan 2023 - 02:01 GMT

The International Monetary Fund expected Egypt's economy will grow by 5.9% in 2025/2026

UPDATED: Dollar price records unprecedented rise, drop during Wednesday trading

Wed, 11 Jan 2023 - 12:10 GMT

While the Central Bank leaves prices setting according to the mechanisms of supply and demand, without any intervention to support the value of the local currency.

IMF approves $3B extended credit facility for Egypt

Fri, 16 Dec 2022 - 11:21 GMT

The first installment of the loan value, which amounts to about $750 million, will be delivered within days.

Egypt hopes to obtain $750M of IMF loan during December

Sun, 04 Dec 2022 - 12:37 GMT

Egypt hopes to receive 25 percent of the total value of the financial support program that was recently approved by fund experts at an amount of $3 billion.

PM reviews developments of bailout program with IMF

Tue, 22 Nov 2022 - 08:03 GMT

Prime Minister Mostafa Madbouli on Tuesday chaired a meeting of the Ministerial Economic Committee to follow up on the developments of a bailout program with the IMF to support the national economy.

Easy repayment plan for Egypt loan with a grace period of 10 years: IMF

Mon, 07 Nov 2022 - 03:15 GMT

Georgieva added in a TV interview after her meeting with President Abdel Fattah El-Sisi on Sunday that the payment terms for the loan are that Egypt will obtain a 10-year grace period, provided that it will take another 10 years to repay the principal. and interest.

Egyptian president meets IMF managing director on sidelines of COP 27

Sun, 06 Nov 2022 - 01:27 GMT

The meeting was attended by Egypt's prime minister, governor of the central bank, and the ministers of planning, finance, and international cooperation.

Egypt back to Reform Track

Mon, 31 Oct 2022 - 01:50 GMT

Egypt announced reform procedures followed by announcing securing financing packages worth $9 billion.

Egypt's deal with IMF to enhance ability to withstand external shocks: CBE governor

Thu, 27 Oct 2022 - 03:07 GMT

Addressing a press conference held with the IMF Thursday at the Cabinet's premises, Abdullah said that the CBE began to improve and enhance the efficiency of monetary policy and exchange rate market performance.

Egypt reaches 46-month expert-level agreement with IMF worth $3B

Thu, 27 Oct 2022 - 11:46 GMT

The new financing aims to protect macroeconomic stability and debt sustainability, improve Egypt's resilience to external shocks, strengthen its social safety net, and intensify reforms that support private sector-led growth and job creation.

Egypt finalizes agreement with IMF at level of experts, announcement "very soon"

Sun, 16 Oct 2022 - 11:40 GMT

Maait explained that very fruitful bilateral discussions were held with IMF experts on the sidelines of the annual meetings of the IMF and the World Bank in Washington, and significant progress was made in all policies.

IMF raises forecast for growth of Egyptian economy to 6.6% in 2021/2022, lowers projection of next fiscal yr to 4.4%

Tue, 11 Oct 2022 - 04:46 GMT

The International Monetary Fund (IMF) raised its forecast for the growth of the Egyptian economy to 6.6 percent in the current fiscal year, according to its World Economic Outlook released Tuesday.

Agreement with IMF may take a month or two: Finance Minister

Thu, 22 Sep 2022 - 05:27 GMT

Maait added that the government is also exploring financing options that include affordable loans from China and Japan.

Negotiations for Egypt to obtain new financing progressing according to set schedule: IMF

Mon, 19 Sep 2022 - 03:51 GMT

Azour explained in a TV interview, that after reaching an agreement with Lebanon in April, there is a set of measures that the government must expedite to take in order for this program to be presented to the Fund's management, and negotiations with Tunisia have begun during the past months and are continuing and progressing.

IMF did not ask to cut subsidies on bread, food commodities: Finance min.

Tue, 30 Aug 2022 - 04:02 GMT

Maait said that the State achieved a primary surplus for the fifth year in a row, at a value of LE 100 billion, at a rate of 1.3 percent of GDP.

PM: IMF welcomes Egypt's social protection program, does not force state to take measures harming citizens

Thu, 25 Aug 2022 - 07:39 GMT

The International Monetary Fund (IFM) welcomes the government's social protection programs and does not force the state to take measures that harm Egyptian citizens, affirmed Prime Minister Moustafa Madbouli on Thursday.

Egypt in final stage of talks with IMF on new funding: PM

Mon, 22 Aug 2022 - 02:59 GMT

The Egyptian government is in the final stage of talks with the International Monetary Fund on a new funding, Prime Minister Mostafa Madbouli said during the Logos Coptic Youth Forum on Monday.

IMF maintains Egypt's growth rate at 5.9% in 2022, lowers it to 4.8% in 2023

Tue, 26 Jul 2022 - 04:58 GMT

In its July update of the World Economic Outlook released today, the IMF expected that the Egyptian gross domestic product (GDP) in 2023 would register a growth of 4.8 percent.

CBE's Tarek Amer to chair October meeting of WB, IMF

Thu, 26 May 2022 - 04:37 GMT

Amer will address the opening meeting as well as the presidents of the WB and IMF.