First Independent Mena Newspaper
Despite the threatened stability in Egypt, the International Monetary Fund (IMF) is willing to provide loans if it is deemed necessary by authorities in Cairo. Egypt is going through political, economic and financial crisis as political differencescontinues to be the center stage. IMF’s regional director, Massod Ahmed, said they are “keen to support” the North […]
When in January 2013 the chief of the International Monetary Fund (IMF), Christine Lagarde, attended the 5th international conference of finance ministers and central banks governors of the Maghreb countries, she talked about the necessity of boosting growth and employment within the region, while also reminding the distinguished audience that political issues still constitute a […]
A top economic consultant and advisor of the Algerian government, Abdelhak Lamiri, has hinted that the government could be announcing economic reforms which could open the economy to foreign investors after the 2014 elections. In recent times, the government has taken several policies oriented towards liberalization. The current government is gearing up for an immense […]
After he had been elected best Finance Minister for the MENA region for 2012 and Minister of Finance of the year 2012 by the «The Banker», a magazine of the Financial Times press group, Morocco’s former Minister of Economy and Finance, Nizar Baraka, earned another consecration in 2013, this time from the World Bank and […]
Finance Minister Alkilani Abdelkarim al-Jazi has warned that the blockage of oil ports should come to an end as soon as possible because the finances of the state have begun to feel the effects. Oil is Libya’s major revenue and the siege on ports and oilfields especially in the east have almost brought production to […]
Algiers has shifted its attention to agriculture after warnings from the World Bank and the International Monetary Fund of the necessity to diversify its oil based economy. Recent studies have claimed that its reserves are depleting. Agriculture is now the booming sector in the country and provides more employment than the oil industry after hefty […]
Egypt’s Minister of Finance, Dr. Ahmed Galal, has declared that the government will increase its spending or at least maintain it without increasing taxes or imposing new ones. He claimed the government has “multiple resources” to support its budget. Morsi’s government tried to reduce public spending as requirements for a loan from the International Monetary […]
Essam al-Haddad, the closest aide to Mohamed Morsi, has lambasted the IMF for worsening Egypt’s situation. He claimed Egypt has satisfied all the required conditions but the IMF continues to delay the deal. He said the government in a bid to finalize the $4,8 billion loan deal has recently included a phased-out subsidies plan and […]
The Governor of the Egyptian central bank, Hisham Ramez, has said that they have converted $2,5billion into 18-month notes and there are ongoing plans to convert an extra $3 billion into three-year bonds. The monies were provided by Qatar as deposits to the bank as part of its efforts to help Egypt overcome its crisis […]
The popular uprisings and political turmoil rocking the region of North Africa and the Middle-East since 2011 have dealt a hard blow to the sector of tourism that suffered losses going up to $ 15 billion, according to Arab Tourism Organization (ATO). At a meeting held lately in Jeddah (Saudi Arabia), ATO president Bandar Al-Fuhaid […]