Egypt: Central bank holds special auction
The obligation to provide basic imported commodities has forced the Egyptian central bank to auction $600 million. Despite such an amount, foreign exchange dealers believe […]
Egypt
Egypt and the IMF: towards a bigger loan?
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 […]
Libya, Egypt & Sudan Mull Setting Up Mining Fund
Libya, Egypt & Sudan are considering the possibility of setting up a joint mining fund destined to finance projects in Arab countries and to study […]
Egypt: European MPs Tie Financial Support to Democracy, IMF Loan not Coming yet
While Egypt is in dire need of foreign assistance to take up the various challenges triggered by the severe downturn of its economy, Members of […]
Egypt: Cuts on Necessary Expenditures
The dwindling of Egypt’s foreign reserve is forcing the state to cut down on necessary expenditures. The foreign reserve fell by $105 million in February […]
Egypt says IMF arriving soon
Egyptian Prime Minister Hisham Kandil said on Thursday that he expected an International Monetary Fund team to visit this month for talks on a loan […]
Egypt’s foreign currency reserves going down
Egypt is on the verge of running out of dollars as a run on its pound has left foreign currency in short supply and driven […]
Egypt: Qatar offers IPO package
Government officials from Qatar and Egypt are currently discussing the details of a $2.5bn Qatari aid package, by way of special IPO agreements in dollars. […]
Egypt gets Qatar’s billions before IMF
Qatar gave Egypt an economic lifeline by lending the country another $2 billion and given it an extra $500 million outright to help control its […]
Egypt auctions US dollars
As the Egyptian pound reaches 6.1858 to a dollar, its lowest in 8 years, the central bank is urging Egyptians to “ration” their foreign currency […]