Saudi Arabia has launched its first-ever International Artificial Intelligence Olympiad (IAIO) in Riyadh, drawing participants from over 25 countries in a major global event organized by the Saudi Data and Artificial Intelligence Authority (SDAIA).
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The International Monetary Fund (IMF) has released its staff report addressing the discussions and the results of the third review of the Extended Fund Facility (EFF) loan programme that was approved for Egypt in December 2022.
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Minister of Planning, Economic Development, and International Cooperation Rania Al-Mashat underscored the importance of Egypt’s collaboration with the EU, highlighting the robust and evolving partnership.
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Egypt's external debt has declined during the first quarter (1Q) of 2024 by approximately $7.4 billion, recording $160.6 billion compared to $168 billion at the end of December 2023, according to data published by the Central Bank of Egypt (CBE).
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Egypt has met all the commitments required for the completion of the third review of its $8 billion loan program with the International Monetary Fund (IMF), the IMF's mission chief for Egypt, Ivanna Vladkova Hollar, said in response to a series of questions from Ahram Online during a virtual roundtable Tuesday.
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The International Monetary Fund (IMF) has completed the third review of the Extended Fund Facility (EFF) loan programme for Egypt, which allows the country to receive a tranche of $820 million, the fund announced on Monday.
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Egypt’s overall debt declined by the end of FY2023/2024, which ended on 30 June 2024, to 89 percent of the GDP, down from 95.7 percent posted at the end of the FY2022/2023, according to July's fiscal monthly report published by the Ministry of Finance.
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Egypt is scheduled on the calendar of the International Monetary Fund's (IMF) Executive Board on Monday to discuss the third review of the current Extended Fund Facility (EFF) $8 billion loan programme, which concludes in September 2026.
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The Monetary Policy Committee (MPC) of the Central Bank of Egypt (CBE) opted to maintain the overnight deposit rate, overnight lending rate, and the rate of the main operation. The discount rate was also held steady at 27.25 percent, 28.25 percent, 27.75 percent, and 27.75 percent, respectively.
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Egypt’s House of Representatives has declared its trust in the new government under Prime Minister Mostafa Madbouly's leadership and the programme it adopts till FY2026/2027, according to a report issued by the parliamentary committee that discusses and assesses the programme.
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The International Monetary Fund has revised down its projection for Egypt’s real GDP growth by 0.3 percent in both the recently concluded FY2023/2024 and the current FY2024/2025 to 2.7 percent and 4.1 percent, respectively, according to an update to its World Economic Outlook (WEO) report released on Tuesday.
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BMI, a Fitch Solutions company, expected the Central Bank of Egypt (CBE) to keep its monetary tightening policy on hold, which means keeping the current key interest rates unchanged till the end of 2024 in response to the downturn path of the country’s inflation.
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Egypt’s headline annual inflation rate kept its downturn path in June, for the fourth consecutive month, decelerating to 27.1 percent compared to 27.4 percent seen in May, the Central Agency for Public Mobilization and Statistics (CAPMAS) announced on Wednesday.
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The International Monetary Fund (IMF) has rescheduled its Executive Board meeting to discuss the third review of Egypt’s ongoing Extended Fund Facility (EFF) $8 billion loan programme to 29 July, IMF’s Mission Chief for Egypt Ivanna Vladkova Hollar told Ahram Online on Tuesday.
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Revenues from Egypt’s Suez Canal shrank by 57.2 percent in the third quarter (January-March) of the FY2023/2024, which ended on 30 June, due to a drop in transit receipts, revealed a statement on the country's current account performance by the Central Bank of Egypt (CBE) on Monday.
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Egyptian expats' remittance inflows rose in May for the third consecutive month by 73.8 percent (YoY) to reach around $2.7 billion, up from around $1.6 billion posted in May 2023, the Central Bank of Egypt (CBE) announced on Monday.
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Egypt's net international reserves (NIRs) rose to $46,3 billion at the end of June, the highest level since the COVID-19 pandemic outbreak in March 2020, up from $46.1 posted a month earlier, the Central Bank of Egypt (CBE) announced on Sunday.
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Small and medium-sized enterprises (SMEs) acquire 98 percent of the private sector landscape in Egypt, employing over 47 million of the country’s population who are eligible to work.
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Egypt's external debt declined 4.4 percent (around $7.4 billion) reaching approximately $160.6 billion in the first quarter of 2024, according to data from the Central Bank of Egypt (CBE) in March.
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The Saudi-listed ACWA Power Company has received the commercial operation certificate for Egypt’s Kom Ombo for Energy project, the company announced in a disclosure to the Saudi Stock Exchange “Tadawul.”
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