First Independent Mena Newspaper
An International Monetary Fund delegation is expected in Cairo this weekend to discuss a multibillion-dollar support program for cash-strapped North African country. The Egyptian economy has been hit badly by terror attacks and political unrests. The country has been suffering from severe foreign currency shortage since the beginning of the year. This was mainly because […]
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 European Parliament on Wednesday approved a plan to lend Tunisia €500 million on favorable terms to help it reduce its external debt and consolidate its democratic mechanisms. The plan was backed by 561 votes to 76, with 42 abstentions. Rapporteur of the debate Marielle De Sarnez (ALDE,FR) emphasized that it is “a loan which […]
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 […]
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 […]
Morocco’s macroeconomic situation continues to improve. After declining to 2.4 pc in 2014, growth is expected to reach 4.7 pc in 2015 thanks to a good agricultural season and improvements in construction activity, said the International monetary fund (IMF). However, non-agricultural growth remains sluggish, including in sectors related to tourism, which are affected by geopolitical […]
Egypt is seeking to get $1.5 billion loans from the World Bank and the African Development Bank as fears increase that the Egyptian pound would be devalued if the dwindling foreign currency reserves go below $15 billion. The country has been struggling since 2011 to stabilize its economy and finances shaken by the protests that […]