The second review allows the authorities to draw the equivalent of SDR 1,158.04 million (about US$1.7 billion), bringing total purchases under the SBA to SDR 3,763.64 million (about US$ 5.4 billion, 184.8 percent of quota).
This came after an International Monetary Fund (IMF) team led by Celine Allard held a virtual mission from May 4 to 24, 2021 with the Egyptian authorities. The mission held discussions on the 2021 Article IV Consultation with Egypt and the second review of Egypt’s economic program supported by the IMF’s 12-month Stand-by Arrangement.
“The credit profile of Egypt (issuer rating B2) is supported by "a3" economic strength, reflecting the country's large and diversified economy," it added.
The reviews monitor the change in the trading values of the listed shares and the free trading rate, according to the methodologies for each indicator.
Football, a pool table and great food are must-haves for sports bars; and Le Méridien Cairo Airport Hotel has it just right.
First Deputy Managing Director of the International Monetary Fund (IMF) David Lipton said growth is at the highest rate since 2008.
An International Monetary Fund (IMF) delegation will arrive in Cairo next week to review Egypt’s progress on economic reforms.
The florescent language and descriptions are definitely signature Garcia Marquez, but the characters aren’t.
Arguably the most talked-about serial of the year, Sabea Gar (Seventh Neighbor) is stirring up mixed reactions. But is it really holding up a mirror to society as some claim, or just laying on the shock factor to rack up ratings?
A wrap-up for the most prominent business news of the day.
Finance Minister said that meetings with the IMF mission were positive and great progress in the negotiations on the performance review was made.
An IMF delegation is currently in Egypt for a second review of Egypt’s reform program, before it disperses the third installment of the loan program.
Aqua e Luce pays homage to Brazilian cuisine every Thursday, and we couldn’t have asked for a more delicious celebration of flavors.
Governor of the Central Bank of Egypt (CBE) Tarek Amer will also meet Lall during his three-day visit.
Pharos Holding’s economist Ramy Oraby said that the fund has stressed on the importance of taking further structural reforms.
An Italian experience in front of the Egyptian Nile.
Lebanese columnist Jihad Al-Khazen wrote an article on Thursday for Al Hayah newspaper criticizing The Washington Post‘s media coverage of the American decision to cut aid to Egypt.
The title of Ashraf el Sabbagh's latest novel is ambiguous, but once we reach the phrase said by the daring female character seducing our hero in the novel.
When I decided to watch Lisa Azuelos’s movie Dalida, I did not know what to expect exactly
Arab columnists tackled many topics on Monday, covering the Arab-Qatari rift, the 65th anniversary of Egypt’s July 23 revolution.