Thndr Claps
  • U.S.
  • Egypt
  • Saudi
  • Thinkers
  • Arabic
No Result
View All Result
Thndr Claps

Thndr Claps » EGY Claps » Economy 🏙 » Summary of IMF’s meeting about Egypt’s loan

Summary of IMF’s meeting about Egypt’s loan

by Omar El Shorafa
January 10, 2023

The Clap
The IMF announced its position on many issues related to the Egyptian economy. Here’s a summary of its most important points:

  • The IMF lowered its forecast for the growth of the Egyptian economy during the current fiscal year from 4.4% to 4%.
  • The IMF also said that the CBE is committed to a flexible exchange rate, but it can intervene in times of volatility.
  • An agreement has been reached with the CBE regarding further tightening of monetary policy to control inflation.
  • It is expected that Egypt will collect $2.5bn from the sale of shares of companies that will go to the pre-IPO fund in mid-2023, which will help reduce its debts.

So What
The loan that Egypt took will be issued in 8 equal installments at a value of $347 million twice a year until September 2026. One installment was already issued, which means that 7 installments remain.

Now What
The IMF does not expect Egypt to control inflation until two years from now, with the possibility of inflation declining to 7% in the fiscal year 2024-2025.

  • Click to share on Facebook (Opens in new window)
  • Click to share on Twitter (Opens in new window)
  • Click to share on LinkedIn (Opens in new window)
  • Click to share on WhatsApp (Opens in new window)

Related Posts

Economy 🏙

Gulf funds eye stake in seven hotels in Egypt

by Shams Abbas
January 24, 2023
Summary of IMF’s meeting about Egypt’s loan
Economy 🏙

Goldman Sachs: Egypt’s on the right track

by Shams Abbas
January 23, 2023
Economy 🏙

Russia to allow exports to Egypt in exchange for Russian ruble

by Shams Abbas
January 23, 2023
Economy 🏙

ITFC offers $1.5 billion in financing to Egypt

by Shams Abbas
January 23, 2023
Orascom Financial continues to buyback shares💸
Economy 🏙

The “Forbes International Tower” right here in Egypt

by Shams Abbas
January 22, 2023
Economy 🏙

Hot money makes its way back to Egypt

by Shams Abbas
January 22, 2023

Website

Community

Blog

Learn

© Thndr. All rights reserved

No Result
View All Result
  • U.S.
  • Egypt
  • Saudi
  • Thinkers
  • Arabic

Disclaimer: Thndr does not provide investment advice, individual investors are responsible for their own decisions or can seek independent advice. The value of investments can go up and down. Thndr is a trading name of Thndr Securities Brokerage which is authorised and regulated by the Financial Regulatory Authority (FRA). Registered in Egypt (no. 804)..© Thndr. All rights reserved

 

Hello👋 We want you to be able to express your opinions on anything and everything finance and economics related to the Egyptian and US markets.

This is why we introduced Thndr Thinkers💭

Let’s go through some housekeeping notes before you jump into publishing your article to all Thndr Claps readers!

Type of Content📝 We want to see market-relevant content that shows good analysis, please! Base your articles on facts 

Don’t be shy, explain🗣 Flex your knowledge to us, and we’ll share it with all the readers!

Be Original🙏 Please don’t copy. No one likes a copycat. All submissions are welcome as long as they’re yours 

Make your title attractive🤩 A title is like the cover of your book. Attractive enough to make you look at the book but also clear enough to tell you what the book is about.

Clean🧹 We’re all humans and we all make mistakes. But please try and clean up the article so it’s clear for all the readers 

No promotional content🚫 We don’t publish promotional content.

Any questions about becoming a Thndr Thinker? Email thndrclaps@thndr.app and we’d be happy to help!

Normally, your article will be published within 24 hours of submission (if you followed the guidelines)