Egypt Moves Forward on IMF Loan Deal After Delays

Egypt said it agreed with IMF to merge first two reviews of economic reform program, after delays in first review.
IMF approved $3 billion loan for Egypt in December, but first review scheduled for March has not happened yet.
Egypt finance ministry said negotiations with IMF are going "fruitfully and positively."
Egypt vowed to adopt flexible exchange rate under IMF deal, but official rate has stayed around 30 to dollar.
Egypt president appeared to rule out further devaluation soon, citing concerns over national security and citizens.

reuters.com

Relevant topic timeline:

8/23/2023

Argentina secures $7.5 bln disbursement from IMF

The International Monetary Fund (IMF) has approved the disbursement of $7.5 billion for Argentina after completing the fifth and sixth reviews of their $44 billion program, bringing the total disbursements to $36 billion, with most of the cash being used to pay back the fund for another program.

9/7/2023

IMF, World Bank to step up cooperation on climate, debt, digital transition

The International Monetary Fund (IMF) and World Bank have pledged to increase their cooperation in addressing climate change, debt vulnerabilities, and digital transitions, stating that they are well-positioned to contribute to tackling these challenges.

9/15/2023

Argentina Faces Uncertain Future with IMF Amid Calls for Stricter Reforms

Argentina and the International Monetary Fund (IMF) face challenges as the country enters a recession, misses economic targets, and struggles with inflation, prompting calls for stricter conditions and deeper structural reforms from the IMF.

9/15/2023

IMF to Urge China to Shift to Consumer-Driven Growth, Address Real Estate Risks As It Cuts Global Outlook

The International Monetary Fund (IMF) plans to advise China to boost domestic consumption, address its troubled real estate sector, and rein in local government debt, in order to combat the declining growth in China and the global economy, according to IMF Managing Director Kristalina Georgieva.

9/28/2023

Pakistan to Hold IMF Talks on $3B Loan Next Month, Seeks $710M Disbursement

The caretaker government of Pakistan is set to begin talks with the International Monetary Fund (IMF) next month to review the $3 billion Standby Arrangement, with the second quarterly review due in October and a disbursement of $710 million expected in December. The IMF has emphasized the importance of full and timely implementation of the program for its success in light of the country's economic challenges. The finance minister has also highlighted the need for a consensus among politicians to address economic issues.

10/16/2023

IMF Calls for Economic Reforms in Middle East, North Africa to Spur Growth and Opportunity

The International Monetary Fund (IMF) is urging countries in the Middle East and North Africa to reduce their dominance over their local economies and implement measures such as leveling the playing field between public and private firms, providing more targeted social assistance, and revamping education and training systems. The IMF also called for greater participation of women in the workforce and the use of green investments for job creation.

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Posted 9/23/2023, 5:59:00 PM

Egypt Moves Forward on IMF Loan Deal After Delays

Egypt said it agreed with IMF to merge first two reviews of economic reform program, after delays in first review.
IMF approved $3 billion loan for Egypt in December, but first review scheduled for March has not happened yet.
Egypt finance ministry said negotiations with IMF are going "fruitfully and positively."
Egypt vowed to adopt flexible exchange rate under IMF deal, but official rate has stayed around 30 to dollar.
Egypt president appeared to rule out further devaluation soon, citing concerns over national security and citizens.

reuters.com

Relevant topic timeline:

8/23/2023

Argentina secures $7.5 bln disbursement from IMF

9/7/2023

IMF, World Bank to step up cooperation on climate, debt, digital transition

9/15/2023

Argentina Faces Uncertain Future with IMF Amid Calls for Stricter Reforms

9/15/2023

IMF to Urge China to Shift to Consumer-Driven Growth, Address Real Estate Risks As It Cuts Global Outlook

9/28/2023

Pakistan to Hold IMF Talks on $3B Loan Next Month, Seeks $710M Disbursement

10/16/2023

IMF Calls for Economic Reforms in Middle East, North Africa to Spur Growth and Opportunity