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Business
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Economy
7/9/2024 11:02:00 PM
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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Egypt
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Society
7/8/2024 9:27:19 PM
Prime Minister Mostafa Madbouly pledged Monday that his new cabinet will spare no effort to end the power outage crisis within the first six months of its programme.
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Business
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Economy
7/7/2024 2:49:09 PM
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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Business
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Economy
7/1/2024 5:43:30 PM
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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Business
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Economy
6/30/2024 2:03:00 PM
The Executive Board of the International Monetary Fund (IMF) is scheduled to discuss the completion of the third review of Egypt’s ongoing Extended Fund Facility (EFF) $8 billion loan programme on 10 July, according to the fund’s official website.
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Business
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Economy
6/27/2024 12:21:35 PM
Egypt has repaid $25 billion of its domestic and external public debt since March, representing seven percent of the country’s GDP, the Institute of International Finance (IIF) said in a statement on Tuesday.
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Business
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Economy
6/25/2024 1:51:00 PM
Some state-owned and private banks in Egypt raised on Tuesday the limits of credit cards when being used abroad, improving the availability of hard currency liquidity in the banks.
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Business
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Economy
6/24/2024 6:37:49 PM
The Egyptian pound's performance against the US dollar has fluctuated since the last depreciation of the local currency by the Central Bank of Egypt (CBE) on 6 March in line with its commitments to a flexible exchange rate regime under the $8 billion loan deal with the International Monetary Fund (IMF).
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Al-Ahram Weekly
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Economy
6/12/2024 1:08:00 PM
As the IMF closes its third review of its loan to Egypt, foreign-exchange inflows to the country are showing a marked improvement.
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Business
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Economy
6/10/2024 12:29:43 PM
Egypt's annual headline inflation rate has maintained its downturn trend for the third consecutive month, dropping to 27.4 percent in May from 31.8 percent in April, the Central Agency for Public Mobilization and Statistics (CAPMAS) announced on Monday.
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Business
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Economy
6/7/2024 1:36:25 AM
The International Monetary Fund (IMF) has reached a staff-level agreement on the completion of the third review of the Extended Fund Facility (EFF) loan agreement, the fund said in a statement on Thursday.
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Business
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Economy
6/5/2024 12:36:01 PM
Egypt's Purchasing Managers' Index (PMI) for the non-oil private sector reached 49.6 in May, up from 47.4 in April and the highest level since August 2021, according to latest data from S&P Global.
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Business
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Economy
6/4/2024 10:46:38 PM
Egypt’s House of Representatives has approved the budget plan for the upcoming fiscal year (FY) 2024/2025 with a value exceeding EGP 3 trillion, the Ministry of Finance announced Tuesday.
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Business
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Economy
6/4/2024 3:33:48 PM
Egypt’s net international reserves (NIRs) hit its highest point in more than four years (50 months) to reach $46.1 billion in May, up from $41 billion in April, the Central Bank of Egypt revealed on Tuesday.
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Business
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Economy
6/1/2024 8:37:48 PM
Ministry of Housing, Utilities, and Urban Communities announced on Saturday suspending its recently implemented land allocation system, which was giving priority to applicants paying in US dollars from abroad.
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Business
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Economy
5/23/2024 2:25:50 PM
Egypt’s New Urban Communities Authority (NUCA) has given the green light for the sale of land plots in eight cities to 34 foreign companies, all priced in US dollars, read a cabinet statement on Wednesday.
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Business
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Economy
5/23/2024 1:56:07 PM
Egypt received seven international and local offers to acquire shares in the National Company for Petroleum Products Marketing and Distribution (Wataniya). The winning bid is slated to be announced in the near future, Egypt’s Minister of Planning and Economic Development Hala El-Said stated on Wednesday.
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Business
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Economy
5/23/2024 12:10:00 PM
The Monetary Policy Committee (MPC) of the Central Bank of Egypt (CBE) will convene Thursday to decide on key interest rates for the last time in FY2023/2024, amid expectations that it will maintain the current interest rates as inflation rates have started to take a downward path over the past two months.
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Business
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Economy
5/20/2024 2:41:42 PM
The global inflationary wave has raised Egypt's import bill by $4 billion per month due to the rise in global prices, increased shipping costs, and exchange rate fluctuations, Minister of Finance Mohamed Maait stated on Monday.
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Business
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Economy
5/19/2024 10:43:56 PM
Fitch Ratings has revised its outlook on four Egyptian banks to positive from stable, affirming their long-term issuer default ratings at B-, the US-based credit rating agency announced on Saturday.
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