International Monetary Fund (IMF)
CBE announces $3 bn rise in net foreign reserves on last month
Business
October 3, 2016
CBE announces $3 bn rise in net foreign reserves on last month
The Central Bank of Egypt (CBE) has announced a US$3 billion increase in net foreign reserves in late September compared…
Egypt surges on hope of good news on IMF loan
Business
October 3, 2016
Egypt surges on hope of good news on IMF loan
Egypt's stock market rose sharply in early trade on Monday on hopes that an international financing package for the country…
Iraqi minister’s downfall hurts prospect for financial bailout
Middle East
September 28, 2016
Iraqi minister’s downfall hurts prospect for financial bailout
Last week's dismissal of Iraqi Finance Minister Hoshiyar Zebari, the latest convulsion in Baghdad's increasingly unstable politics, risks delaying billions…
Egypt in talks to obtain $2 bln in financing from China
Egypt
September 19, 2016
Egypt in talks to obtain $2 bln in financing from China
Egypt is in talks with China to obtain $2 billion in financing, Deputy Finance Minister Ahmed Kojak said, without giving…
IMF sees ‘productive’ talks on Egypt loans with China, Saudi Arabia
Business
September 16, 2016
IMF sees ‘productive’ talks on Egypt loans with China, Saudi Arabia
The International Monetary Fund said on Thursday it has held "very productive discussions" with authorities in China and Saudi Arabia…
Egypt’s annual inflation hits 15.5 percent in August
Business
September 8, 2016
Egypt’s annual inflation hits 15.5 percent in August
Egypt's state statistics bureau says the annual inflation rate in urban areas reached 15.5 percent in August, a surge of…
New billboards across Egypt’s capital extol austerity
Egypt
September 3, 2016
New billboards across Egypt’s capital extol austerity
Billboards and street signs have gone up across Egypt's capital extolling austerity and hope, part of a pro-government public relations…
In Egypt, IMF deal brings austerity few can afford
Economy
August 20, 2016
In Egypt, IMF deal brings austerity few can afford
A few years ago Imad would not have imagined himself queuing in the Cairo sun for a weekly ration of…
Egypt to receive $2 bln deposit from Saudi Arabia: minister
Egypt
August 19, 2016
Egypt to receive $2 bln deposit from Saudi Arabia: minister
Egypt signed a deal earlier this year for a $2 billion central bank deposit from Saudi Arabia, International Cooperation Minister…
Egypt’s dollar black market resilient despite new threat of jail terms
Business
August 17, 2016
Egypt’s dollar black market resilient despite new threat of jail terms
Desperate to elude roving financial police and fearful of new jail terms for black-market money-changing, Egypt's currency traders are driving…