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31 May 24
Egypt is to quadruple the price of subsidised bread in a move likely to lead to a backlash among a population grappling with poverty and soaring inflation.
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19 Jan 24
A sharp increase in borrowing costs will continue to weaken Egypt’s public finances and contributed to ratings agency Moody’s lowering its credit outlook.
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6 Oct 23
Continued use of foreign reserves and rising borrowing costs have led to Egypt’s credit rating being downgraded by ratings agency Moody’s.
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14 Jul 23
The Egyptian government has agreed to sell almost $2bn of state assets to meet the conditions of an IMF bailout.
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10 May 23
Sustained currency depreciation would make borrowing more expensive for Egypt and take up a higher share of revenues, eventually leading to a future credit rating cut for the government, rating...
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8 Feb 23
Using up foreign reserves to meet soaring costs will restrict Egypt’s ability to service its debt and was named as a major contributor to a cut in its credit rating by ratings agency Moody’s.
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20 Jan 23
To meet borrowing needs, the Egyptian government will have tough decisions to make following the approval of a $3bn International Monetary Fund loan.
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11 Jan 23
Egypt will reduce the state’s role in the economy – including its military, which has grown its footprint rapidly in the decade since a 2013 coup – in a bid to boost growth, the president has agreed...
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8 Nov 22
Central bank reserves in Egypt fell by a fifth in just nine months, leading to ratings agency Fitch warning it could downgrade its judgement of the country.
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28 Oct 22
The Egyptian government has reached an agreement on an $3bn loan from the International Monetary Fund aimed at supporting the budget and pushing forward “deep structural and governance reforms”.
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11 May 22
Governments unable to maintain the economic support they put in place amid Covid-19 to help their citizens deal with rising fuel and food prices face “inevitable” civil unrest, a report has suggested.
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25 Mar 22
Egypt has formally requested a programme deal with the International Monetary Fund to help brace the economy and public finances against the effects of Russia’s invasion of Ukraine.
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7 Sep 21
Egypt must find a way to reduce its debt servicing costs if it is to weather the potential shock of interest rates rising, its government has been warned.
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11 May 21
Egypt’s draft budget for 2021-22 will continue to drive financial and economic reforms, which are “critical” to reducing its high debt burden over the medium term, according to rating’s agency Fitch...
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11 Aug 20
Egypt’s progress on economic reforms has stalled while it responds to Covid-19, leading the IMF to agree a $5.2bn package to help see the government through the crisis.
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19 Jun 20
Egypt is pushing forward with plans to create a universal health insurance system to support its most vulnerable citizens, with the first phase financed by a loan from the World Bank.
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11 Dec 18
Egypt could spend billions more on education and health using its current reforms to attract more private sector finance for infrastructure development, the World Bank has said.
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1 Nov 18
Egypt has secured an extra $2bn payout under its loan agreement with the International Monetary Fund.
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21 Aug 18
The finance ministry of Egypt has started the implementation of a new system to monitor state agencies’ financial transactions.
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26 Jul 18
The US will give $45m to Egypt to help with its economic reforms and give a boost to health, education, governance and agriculture.
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16 Apr 18
The World Bank is to invest $500m in education reforms in Egypt, expanding access to early years education and making greater use of technical innovations.
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7 Dec 17
The World Bank has approved a $1.15bn loan to help Egypt’s economy through reforms to strengthen public finances.
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29 Sep 17
The Egyptian government’s attempt to restore economic stability and higher long-term growth is off to a “good start”, the International Monetary Fund has said.
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19 Sep 17
Egypt will face a $10-12bn budget shortfall for the current 2017-18 fiscal year and plans to issue further foreign debt to overcome it, the country’s finance minister has said.
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8 Nov 16
The World Bank has welcomed economic and social reforms in Egypt, which it said would help to create jobs and revitalise the country’s economy.
31 May 24Egypt is to quadruple the price of subsidised bread in a move likely to lead to a backlash among a population grappling with poverty and soaring inflation.
10 May 23Sustained currency depreciation would make borrowing more expensive for Egypt and take up a higher share of revenues, eventually leading to a future credit rating cut for the government, rating...
11 May 22Governments unable to maintain the economic support they put in place amid Covid-19 to help their citizens deal with rising fuel and food prices face “inevitable” civil unrest, a report has suggested.
19 Jun 20Egypt is pushing forward with plans to create a universal health insurance system to support its most vulnerable citizens, with the first phase financed by a loan from the World Bank.
16 Apr 18The World Bank is to invest $500m in education reforms in Egypt, expanding access to early years education and making greater use of technical innovations.
