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Egypt: Turning potential into performance

The revival of Egypt’s economic fortunes over the past few years has been nothing short of dramatic. The Arab world’s most populous country has devalued its currency and carried out a series of bold, but necessary, reforms to stabilise its economy, stimulate growth, and increase employment. A $12bn loan from the International Monetary Fund (IMF) …

Salah Shamma

IMF Mission Chief For Egypt Subir Lall

Egyptian IPO programme helps attract equity financing for the companies: IMF

IMF Mission Chief for Egypt Subir Lall welcomed the Egyptian authorities’ announcement regarding the initial public offerings (IPO) programme for a number of state-owned companies. On 18 March, Prime Minister Sherif Ismail said that Egypt plans to offer shares of 20 state-owned companies in the next one and half years, 10 of which are already …

Hagar Omran

4 years of fluctuating macroeconomic indicators

The Egyptian economy has gone through a wide range of changes in the past four years, implementing a reform programme backed by a $12bn loan from the International Monetary Fund (IMF) is a turning point. For many Egyptians, 3 November 2016 was an historical day, as the Central Bank of Egypt (CBE) announced the pound’s …

Hagar Omran

IMF negotiates to involve real estate developers in economic housing

Chairperson of the Real Estate Development Chamber Tarek Shoukry revealed that the International Monetary Fund (IMF) is negotiating with real estate developers to encourage involving private developers in providing economic governmental housing. On Tuesday, the IMF began negotiation meetings with key real estate developers to discuss the possibility of participating in an economic housing programme …

Shaimaa Al-Aees

IMF launches Opportunity for All in Morocco 

Marrakesh – The International Monetary Fund (IMF) launched on Monday the Opportunity for All in Marrakesh, Morocco to create jobs, promote comprehensive growth in the Arab World, and turn the debate over Arab sustainable growth from recognition into implementation. Egypt participated in the two-day conference on 29 and 30 January, represented by a delegation consisting of …

Nevine Kamel

IMF announces its second review of Egypt tomorrow

On Tuesday, the International Monetary Fund (IMF) will announce the second review report and expert opinion on Egypt’s economic reform programme. Concurrent with the launching of the IMF report, IMF Mission Chief for Egypt Subir Lall will also hold a press conference. In November 2016, the IMF gave the green light for a $12bn loan …

Daily News Egypt

Rania Al-Mashat, deputy governor of the Central Bank of Egypt (CBE Public domain

Rania Al-Mashat: from IMF to Tourism Ministry

The Egyptian Parliament approved on Sunday the appointment of Rania A. Al-Mashat as tourism minister, replacing Yehya Rashid. Al-Mashat previously served as a senior economic adviser to the International Monetary Fund (IMF), which made her the first Egyptian woman to hold the position. Al-Mashat obtained a BA in Economics from the American University in Cairo …

Hossam Mounir

IMF approves disbursement of $2bn third portion of loan to Egypt

The executive board of the International Monetary Fund (IMF) announced Wednesday its completion of the second review of Egypt’s economic reform programme, allowing the disbursement of $2bn, the third portion of the $12bn IMF loan to Egypt approved in November. The third portion brings the total disbursements to about $6.08bn. The IMF delegation completed their …

Mohamed Samir

IMF to convene in December over 2nd part of $12bn Egypt loan

The International Monetary Fund’s (IMF) board of directors is set to convene on 20 December to discuss the second portion of the $12bn loan to Egypt. An IMF mission visited Egypt from 25 October to 9 November to review Egypt’s IMF-supported economic reform programme. According to Subir Lall, IMF mission chief for Egypt, fund experts …

Ahmed Ismail

IMF, World Bank praise Egypt’s economic reform programme

The IMF and the World Bank praised Egypt’s economic reform programme on the sidelines of the annual meeting of the International Monetary Fund (IMF) and the World Bank in Washington, D.C. Meanwhile, World Bank President Jim Yong Kim said that Egypt’s economic reform programme is moving on the right track at a press conference last …

Mohamed Abdel Megeed