Int'l financial institutions should assume bigger role in funding mega development projects: Rania el-Mashat

Fri, 15 Oct 2021 - 02:22 GMT

The international community and financial institutions should assume a bigger role in funding mega infrastructure projects through soft loans and blended and innovative financing, Minister of International Cooperation Rania el-Mashat said Friday.

IMF raises its forecast for Egyptian economy growth to 3.3% in 2021

Tue, 12 Oct 2021 - 04:17 GMT

The report expected an increase in GDP growth rates in Egypt during 2022 to reach 5.2 percent, and then 5.8 percent in 2026.

Egypt's amb. to Beirut meets number of the newly assigned Lebanese ministers

Fri, 01 Oct 2021 - 08:48 GMT

Egypt's Ambassador to Lebanon Yasser Elwi meet on Friday with number of the newly assigned Minsters of the Lebanese government, including Deputy Prime Minister Saadeh Al Shami and Finance Minister Youssef Khalil.

$45B for Arabs.. IMF begins distributing allocations to confront coronavirus

Thu, 02 Sep 2021 - 03:34 GMT

These allocations represent a vaccine injection into the arm of the world, and if used wisely, it will be a unique opportunity to combat this unprecedented crisis, according to a statement by the Fund.

IMF suspends Afghanistan's access to funds amid uncertainty after Taliban takeover

Thu, 19 Aug 2021 - 11:41 GMT

"As is always the case, the IMF is guided by the views of the international community," a spokesperson for the lender said in a statement Wednesday.

International cooperation minister participates in 2021 African Caucus Meeting of Governors

Thu, 05 Aug 2021 - 03:07 GMT

Mashat: Digitization has become a fundamental part of the development strategy across countries and International Financial Institutions

Diversity of the Egyptian economy supports it in the face of crises: IMF

Thu, 15 Jul 2021 - 04:15 GMT

Celine Allard, IMF Mission Chief for Egypt said that over the past 12 months, the authorities’ commitment to prudent policies and their strong performance under the IMF program have helped mitigate the health and social impact of the pandemic while safeguarding economic stability, debt sustainability, and investor confidence. Growth is expected to rebound strongly in FY2021/22 to 5.2 percent, but the outlook is still clouded by uncertainty related to the pandemic, including regarding the full recovery of tourism.

IMF expects Egypt to achieve growth rate 5.2% in 2021

Wed, 30 Jun 2021 - 03:02 GMT

“For the fiscal year 20/21, we still expect a growth of 2.8 percent, and we see that the recovery has begun with expectations of a stronger revival in the next fiscal year, reaching growth to 5.2 percent."

IMF: Egypt has strong capacity to repay foreign currency obligations

Tue, 29 Jun 2021 - 01:42 GMT

Egypt's foreign debt is expected constitute around 36 per cent of GDP by the end of 2021, she noted.

Egypt’s president urges continuing measures to maintain stability of economic indications

Sat, 26 Jun 2021 - 05:18 GMT

This came as he met with the ministerial economic group, in the presence of Prime Minister Mostafa Madbouli and Governor of the Central Bank of Egypt Tarek Amer.

IMF's conclusion of 2nd review of economic program attests to strong performance of economy - Maait

Thu, 24 Jun 2021 - 04:03 GMT

We are moving ahead with our reform and development march through achieving a balance and flexibility among the adopted financial and economic policies, Maait said in a statement Thursday.

IMF praises Egypt's economic performance under Stand-by Arrangement

Thu, 24 Jun 2021 - 03:30 GMT

They commended Egypt’s strong performance under the Stand-by Arrangement, a result of timely policy response to the crisis and steadfast implementation of the program with overperformance in key program targets.

IMF's concludes Egypt's economic program 2nd review, praises economic performance

Thu, 24 Jun 2021 - 03:08 GMT

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).

Growth rates of Egyptian economy to reach 5% in 2021: Executive Director of IMF

Wed, 09 Jun 2021 - 04:12 GMT

"The Middle East region has lost 5 percent of its growth rates due to the pandemic, amid expectations that it will reach 1 percent and increase to 3 percent within two years, which are positive rates, but not high rates," Mohieldin stated.

Egypt expected to receive in June last tranche of IMF $5.2 billion loan: Minister

Fri, 28 May 2021 - 07:44 GMT

Egypt will receive the last tranche of its $5.2 billion loan from the International Monetary Fund (IMF) before the end of June, Minister of Finance Mohamed Maait suggested in remarks to Egypt Today.

Egypt to receive $1.6B from IMF during 2nd half of June

Thu, 27 May 2021 - 03:05 GMT

Abul-Naga clarified this step is a tribute to the economic reform measures undertaken by the Egyptian state since 2016.

Egypt to receive $1.6B from IMF following 2nd review of economic program

Wed, 26 May 2021 - 12:38 GMT

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.

Planning min., IMF delegates discuss surveys of income, expenditure, labor

Tue, 25 May 2021 - 03:47 GMT

Saeed's remarks came during her videoconference meeting with representatives of the International Monetary Fund (IMF) to discuss results of surveys of income, expenditure, and labor, the Planning Ministry said in a statement.

IMF Managing Director says Egypt became one of the fastest growing economies in the world

Tue, 18 May 2021 - 09:42 GMT

International Monetary Fund [IMF] Managing Director Kristalina Georgieva said, Tuesday that Egypt has become one of the fastest growing economies in the world.

IMF raises MENA growth forecast to 4%

Sun, 18 Apr 2021 - 01:14 GMT

Real GDP in the MENA region is now expected to grow 4 percent in 2021, up from the fund’s October projection of 3.2 percent.