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Al-Ahram Weekly
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Egypt
3/1/2023 9:24:00 AM
Further operations are in store following Egypt’s successful $1.5 billion issue of sovereign sukuk bonds.
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Business
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Economy
2/23/2023 1:13:26 PM
Egypt's entrance into the sukuk market had been on the horizon for some time, and now it is a reality. It will be interesting to see whether Egypt will become a regular sukuk issuer or an infrequent one, Bashar Al-Natoor, the global head of Islamic finance at Fitch Ratings, told Ahram Online.
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Business
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Economy
2/15/2023 1:29:46 PM
Egypt’s external debt receded in the first quarter (1Q) of FY2022/2023 (July-September 2022) to $154.9 billion, down from $155.7 billion at the end of FY2021/2022, reported the Central Bank of Egypt (CBE).
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Business
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Markets & Companies
2/13/2023 9:21:07 PM
Egypt's Prime Minister Mostafa Madbouly said on Monday that a total of EGP 51 billion is needed to settle debts of and upgrade the 1927-founded Egypt's Cotton, Spinning, Weaving and Clothing Holding located in the Nile Delta’s El-Mahalla city.
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Business
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Economy
2/13/2023 2:39:38 PM
Egypt is adopting an economic reform trajectory that contributes to supporting its financial discipline and decreasing debt to GDP ratio and budget deficit, Minister of Finance Mohamed Maait told the Managing Director of the International Monetary Fund (IMF) Kristalina Georgieva on Monday.
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Business
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Economy
2/12/2023 4:00:29 PM
Egypt’s government is helping manage many fiscal risks it is experiencing, including from public guarantees and losses by state-owned enterprises, which could destabilise debt and require drastic cuts to vital spending, the Managing Director of the International Monetary Fund (IMF) Kristalina Georgieva said on Sunday.
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Business
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Economy
2/1/2023 6:30:24 PM
The United States hit its borrowing cap of $31.4 trillion in January, prompting the start of measures to avoid a default as Democrats and Republicans head towards another clash on raising or suspending the country's debt limit.
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Business
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Markets & Companies
2/1/2023 4:21:15 PM
Egypt-based fintech company MNT-Halan announced on Wednesday that it has secured a total of $400 million in finances, including $200 million in equity funding and $140 million in debt, making the company the best-funded start-up in the country.
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World
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Region
1/23/2023 12:33:46 PM
U.S. Treasury Secretary Janet Yellen is in Zambia on the second leg of her African tour, a stop aimed at promoting American investment and ties while she's in a capital city that is visibly dominated by Chinese dollars.
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World
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International
1/19/2023 5:45:58 PM
The US Treasury could start taking "extraordinary measures" Thursday to prevent a default on government debt, as Congress heads towards a high-stakes clash between Democrats and Republicans over raising the borrowing limit.
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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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