Doaa A.Moneim's Articles

Egypt’s overall debt to GDP is expected to decline to 82.6 percent of GDP in 2025, from over 90 percent in 2024, and will continue to shrink under the country's loan program with the International Monetary Fund (IMF), the Director of the Middle East and Central Asia Department at the IMF, Jihad Azour, told Ahram Online.

The war in Gaza, Red Sea shipping disruptions, and oil production cuts have exacerbated the high debt and the elevating borrowing cost issues in the Middle East and North Africa (MENA) region, including Egypt, the International Monetary Fund said on Thursday.

The International Monetary Fund (IMF) has approved $46.4 billion for 18 member countries since November 2023, the IMF’s Managing Director’s Global Policy Agenda 2024 revealed on Thursday.

Egypt is committed to reducing the debt-to-GDP ratio to below 80 percent by 2027 through a series of integrated measures, Minister of Finance Mohamed Maait stated.

Egypt’s external debt is projected to rise during the current FY2023/2024 due to the depreciation in the exchange rate, Era Dabla-Norris, the Deputy Director of the Fiscal Affairs Department at the International Monetary Fund (IMF), told Ahram Online.

Beltone Holding, a capital market and financial company, signed a partnership agreement between its subsidiary, Beltone Venture Capital (BVC), and CI Venture Capital, a subsidiary of the UAE-based Citadel International Holdings, an investment management firm headquartered in Abu Dhabi, Beltone announced on Wednesday.

Egypt’s Minister of International Cooperation Rania Al-Mashat, delivered a speech as the Governor of Egypt to the World Bank Group (WBG) during the G24 Governors and Ministers Meeting held in Washington. The address took place at the WBG and the International Monetary Fund (IMF) 2024 Spring Meetings.

Global debt is projected to increase to close to 100 percent of GDP by 2029, driven mainly by the increasing debt levels in the large economies, including China, Italy, the United Kingdom, and the US, with policy action needed to address fundamental imbalances between spending and revenues, according to the Fiscal Monitor Report released on Wednesday.

Egypt’s government plans to complete the privatization of the state-owned companies within a period of 3 to 5 years, Minister of Finance Mohamed Maait stated to Asharq News.

Minister of International Cooperation and Governor of Egypt at the World Bank Rania Al-Mashat met with key representatives of the World Bank Group during the Spring Meetings of the International Monetary Fund and the WB Group in Washington.

Egypt’s real GDP growth is expected to slow down to 2.8 percent in the current FY2023/2024, which ends on 30 June, before rebounding to 4.2 percent in the FY2024/2025 according to the MENA Economic Update released by the World Bank on Monday.

The International Monetary Fund (IMF) has maintained its projection for Egypt’s real GDP growth in 2024 at three percent, declining by 0.8 percent compared to the estimation of 2023.

The budget initial surplus has jumped over 8.5 folds during the first nine months of the current fiscal year (FY) 2023/2024 to EGP 416 billion (three percent of GDP), compared to EGP 50 billion (0.5 percent of GDP) in the same period of FY2022/2023, Minister of Finance Mohamed Maait announced on Monday.

Minister of International Cooperation Rania Al-Mashat recently attended the graduation ceremony for 20 startup companies as part of the Orange Corners programme.

Canon Central and North Africa recently announced its partnership with KidZania Cairo to establish a Canon Photography Studio at KidZania in Cairo, Egypt to offer children aged 8-14 a unique experience to explore the realms of creativity and technology.

IMF Mission Chief for Egypt Ivanna Vladkova Hollar discusses the fund’s agreement with Egypt and expected developments in the local economy with Doaa A. Moneim

Egypt has agreed with the European Union (EU) to host the joint investment conference on 29-30 June with the attendance of President Abdel-Fattah El-Sisi and the President of the European Commission, Ursula von der Leyen, the cabinet announced on Thursday.

The Central Bank of Egypt (CBE) launched on Thursday the "Women for Women in FinTech" initiative to provide innovative solutions for women entrepreneurs across various sectors to help them expand their businesses.

The European Bank for Reconstruction and Development (EBRD), in collaboration with Meridiam and Hassan Allam Utilities (HAU), the investment and development arm of Hassan Allam Holding, announced on Thursday raising capital in the new platform HAU Energy BV established to invest in renewable energy projects in Egypt and potentially in other African countries.

Egypt hosts the Data Science and Artificial Intelligence Conference (DSC MENA 24) for the first time in the Middle East and North Africa in April.

1 2 3 4 5