debt

Finance Ministry: Deficit climbed to US$13 bn in last five months
Business

Finance Ministry: Deficit climbed to US$13 bn in last five months

The state budget deficit climbed to LE80.7 billion (US$13.1 billion) in the first five months of the 2012/2013 fiscal year,…
Central Bank denies governor’s referral to Illicit Gains Authority
Egypt

Central Bank denies governor’s referral to Illicit Gains Authority

The Central Bank denied on Tuesday a report that Central Bank Governor Farouk al-Oqda had been referred to the Illicit…
Egypt’s IMF loan: More than just borrowing
Opinion

Egypt’s IMF loan: More than just borrowing

As the dust settles following the “Arab Spring,” which unseated some of the Middle East’s longest surviving dictators, elected governments…
Presidency: Domestic, foreign debt expenses LE130 bn
Business

Presidency: Domestic, foreign debt expenses LE130 bn

Egypt’s foreign and internal debt services have accumulated over the past decades and now exceed LE130 billion, presidential spokesperson Yasser…
Egypt public debt reaches record LE1.386 trillion
Business

Egypt public debt reaches record LE1.386 trillion

Domestic public debt in Egypt has reached an unprecedented LE1.386 trillion according to Finance Ministry indices based on a report…
The new Non-Aligned Movement: Multipolar and regional
Opinion

The new Non-Aligned Movement: Multipolar and regional

The 16th Non-Aligned Movement Summit has closed in Tehran, Iran. The conference halls were cleaned up, the delegates have boarded…
US delegation in favor of IMF loan, protesters say no
Business

US delegation in favor of IMF loan, protesters say no

The head of the US economic delegation said Wednesday that United States welcomes Egypt's negotiations with the IMF as the…
Qandil discusses proposed aid package with senior US diplomat
Business

Qandil discusses proposed aid package with senior US diplomat

Prime Minister Hesham Qandil met with the US under secretary of state for economic growth on Tuesday to discuss a…
State bank to drop small farmers’ debts
Business

State bank to drop small farmers’ debts

The state-owned Agricultural Development Bank will drop the debts of some 41,000 farmers as of next week, the bank's director announced Tuesday.…
Egypt budget projects 12.5% higher deficit in 2012/13
Egypt

Egypt budget projects 12.5% higher deficit in 2012/13

Egypt's overall budget deficit will rise 12.5 percent to LE135 billion in the fiscal year that began on 1 July,…
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