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Established in 2006 as a Community of Reality

Welcome to the Neno's Place!

Neno's Place Established in 2006 as a Community of Reality


Neno

I can be reached by phone or text 8am-7pm cst 972-768-9772 or, once joining the board I can be reached by a (PM) Private Message.

Established in 2006 as a Community of Reality

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Established in 2006 as a Community of Reality

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Egypt gets a fourth tranche of $ 2.02 billion from the IMF loan

rocky
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Egypt gets a fourth tranche of $ 2.02 billion from the IMF loan Empty Egypt gets a fourth tranche of $ 2.02 billion from the IMF loan

Post by rocky Sat 30 Jun 2018, 3:20 am

Egypt gets a fourth tranche of $ 2.02 billion from the IMF loan


Egypt gets a fourth tranche of $ 2.02 billion from the IMF loan 8676


The International Monetary Fund (IMF) said it had approved a fourth tranche of $ 2.02 billion in a loan under the economic reform program.
Thus, the total amount received by Egypt from the Fund amounted to $ 8.06 billion under a 12 billion-year loan program for three years.
Under the IMF program, Egypt is undertaking economic reforms, including the liberalization of the exchange rate in November 2016, the reduction of fuel and electricity subsidies, tax increases and the introduction of investment-friendly legislation.
The IMF praised Egypt's economic measures, although ordinary Egyptians say they continue to suffer from low spending because of currency depreciation and rising electricity prices.
President Abdel Fattah al-Sisi's government this month announced a cut in fuel subsidies days after it announced it would raise electricity prices by 26 percent on average while drinking water prices would rise by about half.
Many economists hailed the financial cuts they said would help bring the Egyptian economy back on track after years of turmoil. Others argue that the implementation of many cuts at the same time could lead to an unexpected rise in inflation and reduce consumption and the reluctance of potential investors.

rocky
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Egypt gets a fourth tranche of $ 2.02 billion from the IMF loan Empty The IMF gives Egypt the fourth tranche of a $ 12 billion loan

Post by rocky Sat 30 Jun 2018, 12:24 pm


The IMF gives Egypt the fourth tranche of a $ 12 billion loan

19:30 - 30/06/2018
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Egypt gets a fourth tranche of $ 2.02 billion from the IMF loan %D8%A7%D9%84%D9%86%D9%82%D8%AF-%D8%A7%D9%84%D8%AF%D9%88%D9%84%D9%8A-696x392
Information / follow-up ...
The International Monetary Fund has approved the disbursement of the fourth tranche of a $ 12 billion loan over three years to Egypt as part of an economic reform program.
The total value of this tranche is $ 2.2 billion, bringing the total amount received by the Egyptian government to about $ 8 billion. You will get the rest of the loan on two payments.
The Executive Board's approval of the fourth tranche came after the third review of the economic reform program carried out by the IMF mission during its visit to Egypt in May.
The Egyptian Minister of Finance, Mohammad Maait, said in a statement that the disbursement of the fourth tranche comes in the light of what he described as positive economic developments in Egypt, and "the success of the government in implementing the economic and social reform program and its strong results, especially in terms of restoring financial stability , Improving growth rates and liberating the underlying economic forces. "
The IMF praised the reforms implemented by the Egyptian government, but many Egyptians complain of the collapse of their purchasing power after the devaluation of the currency, and high prices of electricity, fuel and transportation.


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