As the global economy has contracted in recent months, Egypt has been engaged in talks with the International Monetary Fund to shore up its rocky financial situation.
Egypt will receive a $500 million loan from the World Bank to help finance its wheat purchases as prices skyrocket because of the Russian invasion of Ukraine, the bank said Wednesday.
An Egyptian court ordered, on Saturday, to send a notification to Interpol to issue a red notice against 6 members of the banned group of the Muslim Brotherhood, El Watan newspaper reported.
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.
A court in Egypt has asked Interpol to issue Red Notices to four Egyptian journalists working in Turkiye and hand them over to Egyptian authorities.
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 …
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 …
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.
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.”
G7 members have called on Egypt to explicitly condemn Russia’s unprovoked invasion of Ukraine and support the “territorial integrity and sovereignty of Ukraine”, in a statement issued on Tuesday.