Egypt, IMF Reach Staff-Level Agreement for $2B Loan Disbursement

• Thursday, 1st November 2018
• by Sarah Samir

The International Monetary Fund (IMF) reached a staff-level agreement with the Egyptian government on October 30, paving the way for the release of the fifth loan tranche of $2 billion.

Germany to Extend $250M Loan to Egypt

• Tuesday, 10th October 2017
• by Sarah Samir

The German government will provide a $250 million loan next year to help finance Egypt’s budget

Fuel Prices to Increase by 25%

• Sunday, 16th October 2016
• by Sarah Samir

Egypt will lift fuel subsidies and subsequently increase selling prices of petroleum derivatives by 20% to 25%.

IMF Board to Review Egypt’s Loan

• Sunday, 9th October 2016
• by Sarah Samir

The $2.5b first tranche of the IMF's $12b loan will be made available to Egypt after the IMF’s executive board reviews the program, with the country’s funding package be presented to the fund’s executive board by the ...

Egypt Secured $6b IMF Funding Requirement

• Thursday, 8th September 2016
• by Sarah Samir

Egypt has managed to primarily secure the additional funding required to proceed in the International Monetary Fund (IMF) loan. Efforts exerted by both the CBE and Egyptian government resulted into securing the reque ...

Ismail: Egypt’s Power, Gas Reserves Sufficient until 2026

• Monday, 22nd August 2016
• by Sarah Samir

Egyptian Prime Minister, Sherif Ismail, stated in a meeting with editors-in-chief of national newspapers, that Egypt's strategic reserves of gas and electricity are sufficient to address domestic demand till 2026.

Moody’s Affirms Egypt’s B3 Rating

• Monday, 22nd August 2016
• by Egypt Oil & Gas

Moody’s Investor service affirmed Egypt’s long term and senior unsecured bond rating at a stable B3 in which credit risks face deep structural concerns such as weak government reserves, weak external payment position ...

IMF Agrees to $12b Loan to Egypt

• Sunday, 14th August 2016
• by Sarah Samir

The International Monetary Fund (IMF) has agreed to lend $12b to Egypt to be paid out over three years, yet the agreement is subject to approval by IMF’s Executive Board in few weeks, according to IMF's website.

Egypt Evaluates Gas Prices in Market Liberalization Efforts

• Wednesday, 10th August 2016
• by Sarah Samir

The Egyptian Minister of Petroleum and Mineral Resources, Tarek El Molla, stated that the Egyptian General Petroleum Corporation (EGPC) gives priority to reforms within the gas market in order to guarantee that energ ...