foreign loans

Update: IMF loan violates Sharia, says Nour Party
Egypt

Update: IMF loan violates Sharia, says Nour Party

The government should not borrow from the International Monetary Fund to boost the country’s cash reserve, the Salafi Nour Party…
In new region, EBRD told to proceed with caution
Business

In new region, EBRD told to proceed with caution

Under Hosni Mubarak’s 30-year reign, “the private sector” and “privatizations” became politically laden terms associated with a circle of businessmen…
Interest-based loans for new metro line not banned by Sharia law, says minister
Egypt

Interest-based loans for new metro line not banned by Sharia law, says minister

Fayza Abouelnaga, minister of planning and international cooperation, rejected claims that interest-based loans are prohibited by Sharia law in a…
We do not favor increasing foreign loans, says FJP
Egypt

We do not favor increasing foreign loans, says FJP

The Freedom and Justice Party has yet to announce its official stance concerning borrowing from the International Monetary Fund, said…
World Bank says Egypt requested US$1bn loan
Business

World Bank says Egypt requested US$1bn loan

The World Bank said on Thursday that Egypt has asked for a US$1 billion loan and it will launch talks…
Egypt-Gulf cooperation motivated by strategic interests
Egypt

Egypt-Gulf cooperation motivated by strategic interests

Recent announcements that Qatar and Saudi Arabia have both granted Egypt US$500 million in budget support raised eyebrows among some…
Should Egypt repay its $35 billion debt?
Opinion

Should Egypt repay its $35 billion debt?

Since Mubarak’s fall, steps are being taken to address the widespread corruption that occurred during his 30-year rule. The Illicit…
Japan pushes forward with solar power projects in Egypt
Environment

Japan pushes forward with solar power projects in Egypt

Although the economic slump of past months has stalled most of Egypt’s industrial projects, the Japan International Cooperation Agency (JICA),…
IMF cancels Cairo visit after military council rejects foreign loans
Business

IMF cancels Cairo visit after military council rejects foreign loans

A source close to the International Monetary Fund (IMF) said the fund cancelled a visit to Cairo scheduled for July…
National Wages Council warns of austerity measures affecting labor market
Business

National Wages Council warns of austerity measures affecting labor market

National Wages Council member Abdel Rahman Kheir said on Monday that the austerity measures currently being considered by the government…
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