IMF | Egypt Oil & Gas - Part 5
IMF: Egypt on Positive Trajectory but Inflation Threatens Stability
Egypt has made a “strong start” on its reform program, but high inflation threatens macroeconomic stability, according to the recent IMF report, Egypt Oil & Gas reports. Fiscal and regulatory reforms have improved...
IMF Supports Egyptian Reforms, Approves New Tranche
The International Monetary Fund (IMF) supports the economic reform program adopted by Egypt, IMF’s Chief for Egypt, Chris Jarvis, stated, according to Amwal Al Ghad. “Measures taken by the Egyptian governm...
El Molla: Fuel Subsidies Cut is a Must
Egypt’s Minister of Petroleum and Mineral Resources, Tarek El Molla, stated that there is no alternative to increasing fuel prices, especially since the cost of petroleum products’ subsidies will exceed EGP 100b...
Egypt Pays $750m to IOCs
The Central Bank of Egypt’s (CBE) Assistant Deputy Governor, Rami Aboul Naga, stated that Egypt paid total $1.5b in arrears to international oil companies (IOCs) in May and June, reported Al Ahram Newspaper. Abul-Naga...
El Sisi Meets with IMF’s Chief
The Egyptian President, Abd El Fattah El Sisi, met with the International Monetary Fund’s (IMF) Managing Director, Christine Lagarde, to discuss the IMF aiding funds, Al Mal News reported. During the meeting, El...
IMF Supports Mozambique’s Fuel Price Increase
The International Monetary Fund (IMF) supports the Mozambican government decision to increase fuel prices as the IMF believes the step will help the African country in facing its struggles with foreign debt, Zitamar r...
Egypt to Reprice Electricity Following Increased Fuel Quota
The spokesman for The Electricity Ministry, Ayman Hamza, said that the ministry is repricing electricity following the increase in fuel prices as a result of the EGP flotation. The move comes as the government is dete...
Egypt Spent EGP 14b in Fuel Subsidies
Egypt’s petroleum subsidies reached EGP 14b in the first quarter of currently fiscal year 2016/2017, which started in July. This came as a result that Brent is trading at a higher price than the $40/b used in st...
