Sunday , 3 July 2022

Blog Archives

Egypt asks World Bank for $500 million to buy wheat

The Egyptian government asked the World Bank in late May to obtain $500 million to finance the Emergency Food Security and Resilience Support Program, which is aimed at managing Egypt’s needs for imported wheat in light of the ongoing repercussions of the Russian war in Ukraine on global markets.

Read More »

Egypt’s military economy under threat from the IMF

Less than a month after the Russian invasion of Ukraine, on 21 March 2022, faced with an exceptional rise in food and energy costs, Cairo’s Central Bank raised its base interest rate by 100 points, and devalued the Egyptian pound by some 15% after having spent several days wasting more …

Read More »

Throwing Down the Gauntlet: What the IMF Can Do About Egypt’s Military Companies

Until recently, both the International Monetary Fund (IMF) and the World Bank were wholly reticent to say anything about the involvement of the Egyptian Armed Forces (EAF) and other military agencies in Egypt’s civilian economy. This is a longstanding problem. By turning a blind eye to the diversion of resources …

Read More »

Rights groups call on IMF to link loan to Egypt to more social protection

Seven human rights organisations have called on the International Monetary Fund (IMF) to link the new loan being negotiated with Egypt to the government granting more economic and social rights to its people and strengthening judicial independence.

Read More »

Egypt requests ‘support’ from IMF that ‘could include additional financing’ as economy reels under impact of Russia’s war on Ukraine

Egypt has requested more support from the IMF, the institution said in a Wednesday statement, which was followed by an Egyptian Cabinet statement saying the program “could include additional financing.”

Read More »