First Independent Mena Newspaper
Egypt could secure up to $10 billion from the International Monetary Fund (IMF) by agreeing to a structural reform program, the central Bank said on Monday. The announcement follows an earlier comment by a cabinet minister on Monday that Egypt had last week started negotiations with the IMF for a $5 billion loan. Since the […]
The Speaker of the Tunisian parliament, Mohammed Ennaceur, denied reports that Tunis has approved the deployment of a military base in the country after it was designated as a major non-NATO ally of the US by President Obama. Speaking to Russia Today, Ennaceur claimed the reports are “not true” because “there are no such plans.” […]
The International Monetary Fund (IMF) has approved a $2.9 billion Extended Fund Facility (EFF) for Tunisia to help the country carry out its economic and financial reform program. This program aims at promoting stronger and more inclusive growth by consolidating macroeconomic stability, reforming public institutions, facilitating financial intermediation and improving the business climate. According to […]
Deputy Crown Prince Mohammed bin Salman announced Monday a large-scale reform plan dubbed Vision 2030 meant to restructure the kingdom’s economy and ministerial departments, reform the educational system, and give long term residency permits to foreigners, among others. Yet, the most outstanding announcement he made is the creation of a $2 trillion Sovereign Wealth Fund […]
IMF’s economic predictions for Algeria augur no growth for 2016 while forecast for 2017 signals further slump in the country’s economy with GDP expected to go down to 2.9 per cent, with payment balance estimated at 16.2 per cent of the GDP. 2016 predictions for growth of the Algerian economy according to the International Monetary […]
Algeria’s “social model” known for its significant subsidy program is “unsustainable even if oil prices go up because we have a problem of price but also a problem of volume.” The statement was made by Abdelatif Benachenhou, former finance minister and economic adviser to President Abdealziz Bouteflika, who said that the state spends around $45billion […]
Algeria needs to adjust to the shock created by the oil prices collapse by intensifying fiscal consolidation and speeding up implementing some structural reforms. “Opportunity to reshape Algeria’s growth model should be seized now, before a more rapid adjustment becomes unavoidable.” The statement was made by a delegation of the International Monetary Fund (IMF) at […]
The International Monetary Fund (IMF) expects Mauritania’s real GDP growth to reach 4.2 percent in 2016 thanks to a rebound in mining production. After concluding a recent review of the country’s economic situation, the IMF says economic activity in the non-extractive sector is expected to remain subdued, with growth slowing marginally to 2.9 pc in […]
The Executive Board of the International Monetary Fund (IMF) has completed its 3rd and last review of Morocco’s economic performance under a program supported by a two-year Precautionary and Liquidity Line (PLL) arrangement, and reaffirmed Morocco’s continued qualification to access PLL resources. The current two-year PLL arrangement in an amount equivalent to SDR 3.2351 billion […]
The International Monetary Fund (IMF) and the African Development Bank (ADB) have approved this week release of billions in form of loans to Egypt in order to support its weak budget suffering from lack of foreign assistance and a huge domestic debt, reports say. The IFM according to reports has approved the first $1 billion […]