Thursday , 23 March 2023

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Egypt green-lights sweeping privatization strategy following IMF agreement

After more than half a year in the making, Egypt’s President Abdel Fattah al-Sisi finally approved at the end of December a strategic program drawn up by the government that sets out the economic sectors from which the state plans to withdraw in the coming years, and those in which …

To Receive an IMF Loan, Egypt Pledges to End the Unique Status of Its Military Companies

The International Monetary Fund (IMF) released a Staff Report on January 10, 2023, detailing the commitments made by the Egyptian government in return for the award of about $3 billion in new lending, Egypt’s fourth loan since 2016. Although the initial agreement was announced on October 27, 2022, it has …

Egypt: Sisi vows to curb army influence in new IMF bailout

Egypt’s President Abdel Fattah Al-Sisi has vowed to reduce the military’s undue influence over the country’s economy as part of a new $3 billion International Monetary Fund (IMF) bailout. The package of measures that will be introduced will address Cairo’s economic woes including a foreign currency crisis, a weakening pound …