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Al-Ahram Weekly
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World
1/18/2023 12:00:00 AM
China’s foreign minister began his tenure by refuting the “debt trap” narrative in Africa and promoting the “exchange of benefits” principle, reports Haitham Nouri
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Business
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Economy
1/16/2023 5:54:53 PM
Egypt has received $925 million in indirect investments in local debt instruments since Wednesday, increasing the country’s reserves of hard currency in addition to an increase from the local market, Egyptian expats remittances, and the tourism sector, the Central Bank of Egypt said on Monday.
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Business
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Economy
1/10/2023 9:22:09 PM
Egypt has committed to the International Monetary Fund (IMF) to endure structural reforms in its macroeconomic schemes, fuel prices and foreign exchange policies (FX) as well as its debt structure among several monetary and fiscal policies, according to the fund staff report released on Tuesday.
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World
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Region
1/7/2023 7:07:14 PM
Director of the Horn of Africa and Sudan Department of the Arab League Zayd Saban said the AL has received an official memorandum from the Iraqi government notifying it that it will cancel part of Somalia’s debts to Iraq.
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World
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War in Ukraine
1/1/2023 10:05:44 AM
A provision in the recently signed defense spending bill mandates that the United States work to ease Ukraine's debt burden at the International Monetary Fund, which could create tensions at the world's lender-of-last-resort over one of its biggest borrowers.
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Business
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Economy
12/29/2022 7:57:49 PM
Egypt's Financial Regulatory Authority (FRA) has increased the installment limit for the mortgage finance schemes to become up to 50 percent of the purchaser's income, instead of 35 percent and 40 percent set previously for different income categories.
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World
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Region
12/27/2022 3:29:49 PM
Tunisia's finance minister unveiled a budget Monday aiming to use new tax revenues to claw the deficit back to near five percent of GDP, as the cash-strapped country awaits an international bailout.
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Business
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Economy
12/26/2022 11:22:00 PM
The COVID-19 pandemic continues to create serious challenges for the Egyptian economy, which has been exacerbated by the repercussions of the Russian-Ukrainian conflict that sparked in March.
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Business
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Economy
12/26/2022 9:22:42 PM
In an interview with Al-Arabiya News channel, UN Climate Change High Level Champion for Egypt Mahmoud Mohieldin said that though global recession is inevitable in 2023 developing countries can find ways to alleviate its impact.
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Business
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Economy
12/22/2022 3:28:45 PM
The World Bank has revised down predictions for Egypt’s real GDP growth in FY2022/2023 to 4.5 percent, down from 4.8 percent it expected in October and below the 6.6 percent the country attained in FY2021/2022.
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Al-Ahram Weekly
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Egypt
12/22/2022 1:47:00 PM
Two devaluations, a new IMF deal, and multi-billion dollars’ worth of asset sales to Gulf investors are some of the features of the economic scene on the year of the war.
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Business
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Economy
12/21/2022 11:36:14 AM
UK state borrowing surged last month on fallout from sky-high inflation, notably government financial help for consumers and businesses struggling to afford soaring energy bills, official data showed Wednesday.
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Egypt
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Foreign Affairs
12/16/2022 8:12:00 PM
In a speech on the third and final day Friday of the US-Africa Leaders’ Summit in Washington, President Abdel-Fattah El-Sisi urged the US to invest in alleviating debt burdens on the most afflicted countries, noting that the debt rate has reached serious levels exceeding 250 percent of their revenues.
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World
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Africa
12/13/2022 3:46:54 PM
Ghana on Tuesday agreed on a $3 billion credit deal with the International Monetary Fund (IMF) as part of the country's battle to end its worst economic crisis in decades.
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Business
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Economy
12/5/2022 3:34:24 PM
Egypt hopes to receive in December the first tranche, worth $750 million, of the $3 billion loan from the International Monetary Fund (IMF), Minister of Finance Mohamed Maait said in statements to Alsharq Bloomberg on Sunday.
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World
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War in Ukraine
12/3/2022 1:48:08 PM
Even as Ukraine celebrates recent battlefield victories, its government faces a looming challenge on the financial front: how to pay the enormous cost of the war effort without triggering out-of-control price spikes for ordinary people or piling up debt that could hamper postwar reconstruction.
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Business
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Economy
12/1/2022 12:11:03 PM
The International Finance Corporation (IFC), a financing arm of the World Bank Group, alongside UAE, Japanese, Dutch, and private sector commercial banking partners, announced on Wednesday a $1.1 billion financing package for Egypt, including debt and equity.
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Business
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Energy
11/22/2022 2:35:37 PM
Germany will have to take on more debt than expected in 2023 to combat an energy crisis that has left Europe's biggest economy facing "great economic uncertainty", Finance Minister Christian Lindner said Tuesday.
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World
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Region
11/19/2022 1:25:37 PM
Leaders of French-speaking countries gathered Saturday on a Tunisian island to discuss debt relief, migration, food and energy shortages, with a soaring cost of living across Africa, Europe and the Middle East due to war in Ukraine as the backdrop.
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COP27
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Climate change
11/9/2022 10:28:36 PM
Pakistan's foreign minister repeated calls for compensation for the unprecedented destruction caused to the country by this summer's flooding, saying debt relief could be a mechanism for doing so.
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