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Ursula von der - 1 Mohamed Maait - 1 Abdel Fattah al - 1 Egypt's - 1 Patrick Werr - 1 Philip Blenkinsop - 1 Renee Maltezou - 1 Aidan Lewis - 1
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4 mentions found


☆ EU to Bolster Egypt Ties With Billions in Funding
  + stars: | 2024-03-16 | by ( March | At P.M. | ) www.usnews.com   time to read: +4 min
The agreement is designed to enhance cooperation in areas including renewable energy, trade, and security while delivering grants, loans and other funding over the next three years to support Egypt's faltering economy. War in Israel and Gaza View All 222 ImagesInflation has been running close to record highs and many Egyptians say they struggle to get by. Of that, funding from the European Union is expected to total $5-6 billion, Finance Minister Mohamed Maait told Asharq Business. Egyptian officials say Egypt deserves recognition for hosting an estimated nine million foreign residents and largely shutting off irregular migration from its north coast since 2016. CROSSINGS VIA LIBYABut there has been a surge in Egyptians trying to cross to Europe via Libya, and the European Union is already providing funding aimed at reducing those flows.
Persons: Ursula von der, Mohamed Maait, Abdel Fattah al, Egypt's, Patrick Werr, Philip Blenkinsop, Renee Maltezou, Aidan Lewis, Nick Zieminski Organizations: IMF, Diplomats, Cypriot, European, Asharq Business, Rights Watch Locations: CAIRO, Egypt, Cairo, Israel, Gaza, Sudan, Qatar, United States, European Union, LIBYA, Europe, Libya, Crete, Gavdos, Bangladesh, Pakistan, Tunisia, Mauritania, U.S
☆ Egypt nears staff-level agreement with IMF on terms of its programme
  + stars: | 2022-10-16 | by ( ) www.reuters.com   time to read: +2 min
The International Monetary Fund (IMF) headquarters building is seen in Washington, U.S., April 8, 2019. REUTERS/Yuri Gripas/File PhotoOct 16 (Reuters) - Egypt has finalised a staff-level agreement with the international monetary fund (IMF) on the components of its programme, and will issue an announcement "very soon," the country's finance minister said on Sunday. In its own parallel statement on Saturday, the IMF said it had agreed with Egyptian authorities to finalise work to reach a staff-level agreement "very soon." The policies discussed, according to the IMF statement, included monetary and exchange rate policies that "would enable Egypt to gradually and sustainably rebuild foreign reserves," public debt reduction, social safety net expansion, and increasing competitiveness in the economy. Register now for FREE unlimited access to Reuters.com RegisterReporting by Moataz Mohamed; writing by Nafisa Eltahir; Editing by Louise HeavensOur Standards: The Thomson Reuters Trust Principles.
☆ Egypt seeking to push forward critical IMF deal in Washington
  + stars: | 2022-10-12 | by ( Patrick Werr | ) www.reuters.com   time to read: +6 min
IMF managing director Kristalina Georgieva said on Oct. 3 that Egypt and the fund were close to a deal. Egypt's newly appointed central bank governor, Hassan Abdalla, and long-servicing finance minister Mohamed Maait are leading the talks in Washington, where a number of countries squeezed by global pressures are seeking support. The central bank has been tapping into its own reserves and borrowing from local banks to support the pound against the dollar. As of the end of June, the government had a total of $155.7 billion in foreign debt. Egypt had made good progress on three likely IMF demands, said James Swanston of Capital Economics.
☆ Egypt's 2021/22 natural gas and LNG export revenue hits $8 bln - cabinet
  + stars: | 2022-09-25 | by ( ) www.reuters.com   time to read: +1 min
REUTERS/Amr Abdallah DalshSept 25 (Reuters) - Egypt's natural gas and liquefied natural gas (LNG) export revenue reached $8 billion in its 2021/22 fiscal year after volumes increased by 7.2 million tonnes, the Egyptian cabinet said on its Facebook page on Sunday. Egypt earns about $500 million monthly from natural gas exports and aims to raise that figure to $1 billion "in the coming period", Finance Minister Mohamed Maait said in a statement last week. Egypt has been pushing to maximise its exports of natural gas to generate foreign currency revenue after coming under financial pressure due to the impact of the war in Ukraine. The government says gas exports have been boosted after the it introduced an electricity rationing plan in August. Register now for FREE unlimited access to Reuters.com RegisterReporting by Moataz Mohamed; Editing by David Clarke and David EvansOur Standards: The Thomson Reuters Trust Principles.
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