Tag: International Monetary Fund
Egypt’s credit score downgraded by Fitch Ratings to ‘B-‘
The ratings agency said it expects Egypt to face a significant rise in external debt maturities in fiscal years ending June 2024 and June 2025
Egypt inks $1.5 billion financing agreement with ITFC
Egypt has signed a $1.5 billion financing agreement with the International Islamic Trade Finance Corporation (ITFC) to fund the country’s trading, including imports of...
Egypt’s President Sisi banks to help clear import backlog within days
Egypt’s President Abdel-Fattah El-Sisi said Monday that banks will help secure the necessary dollars to clear a backlog of imports, which is estimated to...
Egypt secures $500 million from the World Bank to expand social security
The World Bank has approved $500 million in new development financing to expand and strengthen Egypt’s social safety net and protection programme as the...
Egypt’s non-oil private sector shrinks further in November after devaluation
Egypt witnessed a deterioration in business conditions in November, the sharpest since the outbreak of the pandemic in early 2020, as inflationary pressures undermined...