International Monetary Fund

PM: Egypt capable to meet economic obligations despite regional challenges

Wed, 11 Dec 2024 - 02:25 GMT

Madbouly disclosed the government's plans to offer 11 companies for sale during the upcoming year, prominently featuring the military-affiliated Wataniya, Safi, Silo Foods, and ChillOut

PM says Egypt ‘will not repeat past mistakes’ on exchange regime as pound exceeds 49.5 per $1

Sat, 30 Nov 2024 - 07:56 GMT

Madbouly remarked on the historical perception within Egypt that a fixed exchange rate symbolized a state's robustness and endurance and that a flexible exchange rate system should be avoided

Egypt's updated privatization plan to be announced by end of November

Thu, 07 Nov 2024 - 12:02 GMT

Madbouly announced that the Investment Minister will unveil an updated privatization plan later this month

Egypt's PM and IMF Chief discuss economic reform progress

Sun, 03 Nov 2024 - 02:09 GMT

Madbouly announced that the IMF would begin its fourth review of Egypt’s loan program on Tuesday. This process could unlock over $1.2 billion in financing, providing essential support as Egypt continues its economic reform journey

IMF expects Egypt’s inflation rates to reach 17% during coming period

Sun, 03 Nov 2024 - 11:48 GMT

She anticipates that inflation rates could fall to 17 percent in the coming period, a goal backed by the IMF’s support of Egypt’s ongoing economic reforms.

IMF conducting study on impact of reforms on Egyptians before 4th review

Mon, 28 Oct 2024 - 01:51 GMT

New data is expected to reveal the effects of economic reforms on household spending following two years of currency devaluation and rising prices.

Maait accepts role as Arab countries, Maldives representative at IMF

Sun, 27 Oct 2024 - 12:13 GMT

He also thanked Prime Minister Mostafa Madbouly and the Egyptian government for their support during the nomination and voting process.

Egypt loses 70% of Suez Canal revenue due to Gaza war: IMF

Thu, 24 Oct 2024 - 01:57 GMT

She also announced plans to visit Egypt within 10 days to assess the country's economic indicators and review the situation in light of the regional and global developments affecting its economy.

IMF estimates strong recovery for Egypt’s economy in FY2025 in latest report

Wed, 23 Oct 2024 - 11:51 GMT

In the IMF’s latest World Economic Outlook report released on Tuesday, the fund revealed that Egypt recorded a real GDP of 3.8 percent in FY2023/2024, 1.1 percent higher than the IMF's earlier projection of 2.7 percent in July.

Sisi says Egypt to review situation with IMF if escalating burdens persist on people

Sun, 20 Oct 2024 - 02:37 GMT

Sisi said Egypt has lost about $6-7 billion in the last 10 months amidst ongoing regional and global repercussions

IMF announces new measures to reduce borrowing costs for member countries by 36%

Sun, 13 Oct 2024 - 10:48 GMT

These measures, approved by the IMF's Executive Board, are estimated to save member countries an estimated $1.2 billion annually.

IMF softened $8 billion loan program conditions during 3rd review in July

Tue, 27 Aug 2024 - 03:38 GMT

During the completion of its 3rd review of Egypt’s $8 billion loan program, the International Monetary Fund (IMF) adjusted and softened certain conditions attached to the program, providing the country more time to implement key reforms.

Egyptian entities pay LE150B claims to CBE by July 2024: IMF

Tue, 27 Aug 2024 - 12:12 GMT

The IMF emphasized the Ras El-Hekma deal's significance in curbing financing needs and debt levels.

IMF allegedly pushes 4th review data to October: sources

Mon, 26 Aug 2024 - 10:44 GMT

In a recent statement, Prime Minister Mostafa Madbouly shared that a new tax law will be announced next October

Highlights from the IMF’s 3rd review of Egypt’s $8B Extended Fund Facility

Tue, 30 Jul 2024 - 11:40 GMT

With the 3rd review completed, Egypt will receive $820 million in the coming days, meaning it will have obtained $1.64 billion from the $8 billion loan since the agreement’s approval in 2022

IMF predicts 2.7% growth in Egyptian economy during current FY, with slight recovery in FY25

Tue, 16 Jul 2024 - 03:36 GMT

Globally, growth projections remain stable at 3.2 percent for 2024 and 3.3 percent for 2025

IMF postpones disbursement of 3rd tranche of loan to Egypt, pending fulfillment of conditions

Wed, 10 Jul 2024 - 11:22 GMT

This postponement comes as a result of certain conditions that need to be met, as communicated by a government official in an interview with Asharq.

Egypt’s net foreign assets hit LE 174.3B in April: CBE

Sun, 02 Jun 2024 - 01:21 GMT

The Central Bank of Egypt (CBE) reported holding LE 1.883 trillion in foreign assets at the end of April, while commercial banks held LE 1.195 trillion

IMF mission visits Cairo for third review of Egypt's loan program

Thu, 23 May 2024 - 09:23 GMT

The IMF team has been in the Egyptian capital for the past two days to assess the country's progress under the loan agreement, the officials stated. The third review is expected to be completed on or after June 15, 2024, with the fourth review slated for on or after September 15

Egypt in talks to secure $1.2B from IMF's Resilience and Sustainability Facility

Sun, 19 May 2024 - 09:02 GMT

During the meeting, the two parties discussed cooperation mechanisms for environmental and climate policies. Fouad stressed that this meeting was a continuation of the bilateral discussions with the IMF to enhance coordination and cooperation frameworks for environmental and climate policies in Egypt.

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