The update given by the Egyptian Planning Minister after talks with the International Monetary Fund has raised eyebrows. Minister Ashraf El-Araby described the talks as being “positive” but added that the “economic situation has become worrisome and quick measures are needed.” The minister hopes that a deal in principle will be made within a fortnight. [...]
Egypt’s search for funding has been given another facelift as the African Development Bank (ADB) decides to help the country get over its troubles. The bank has tentatively agreed to provide Egypt with a biennial plan with an amount of US$2.5 billion. The money will be given to the country over the following two years [...]
The Tunisian government has received $ 500 million loan from the World Bank to enable the North African country carry out key reforms, boost economic growth and create jobs. “The reforms which this financing supports will help Tunisia improve employment opportunities while ensuring better social services and more transparent government”, says Inger Andersen, Vice President [...]
Morocco has received a loan from the African Development Bank to be invested in its renewable energy programs. The 800 million dollar loan will allow the country to develop a Concentrated Solar Power (CSP) plant located in the southern town of Ouarzazate and its Integrated Wind/Hydro and Rural Electrification Program according to a statement released [...]
The IMF has praised the austerity measures of the government but asked for the tax collection to be improved in order to subsidize its oil revenue losses. It also commended the actual situation of the economy. “The picture is much, much brighter than it was in June (before the austerity plan was launched),” Paul Jenkins, [...]
The newly formed Egyptian government has managed to get a $2 billion loan from the oil-rich emirate of Qatar, the second country after Saudi Arabia supporting the Egyptian ailing economy since the fall of former President Hosni Mubarak in a popular uprising in 2011. The loan was announced following a meeting in Cairo between the [...]
The Jordanian government will receive a $ 2 billion financial assistance from the International Monetary Fund (IMF) to enable the Hashemite Kingdom carry out its ambitious political & socioeconomique reform program in a tumultuous middle east. This lifeline loan, which has been approved in principle by the IMF staff, still needs the endorsement of the [...]
China announced on Wednesday that it would offer Africa new loans worth $20 billion over the next three years to support infrastructure, the manufacturing industry and the development of small businesses in the continent. The announcement was made by President Hu Jintao at the opening of the 5th ministerial meeting of the Forum on China-Africa [...]
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