Last night’s talk shows zeroed in on Prime Minister Moustafa Madbouly's press conference following the first meeting of the new cabinet. The IMF's delay in discussing the third tranches of Egypt's loan agreement also squeezed in to get a mention on the airwaves.
Madbouly addresses key issues: Lamees El Hadidi praised the prime minister’s press conference, highlighting how Madbouly tackled “all pressing concerns, from power load shedding and its end date, to fuel prices and their expected rise,” (watch, runtime: 3:59). “He also talked about the meds shortage and oil companies' arrears.” El Hadidi added that “this is a good approach, and we hope it continues.”
Why did the IMF push back the third tranche of our loan agreement? “The IMF has not officially disclosed the reasons behind the delay in discussing the disbursement of the USD 820 mn third tranche of its USD 8 bn loan to Egypt, now set for 29 July instead of today. However, there are several potential reasons,” economist Medhat Nafei told Yahduth Fi Masr’s Sherif Amer (watch, runtime: 7:04). Nafie went on to list the potential reasons, naming “the economic ministerial group reshuffle, or the country's failure to meet several key conditions of the program, possibly including fuel price hikes.”
ALSO ON THE AIRWAVES- EGX’s new dialogue platform: After the EGX unveiled plans to launch an online platform to “to receive suggestions and community dialogue,” EGX head Ahmed El Sheikh joined Osama Kamal to explain that how “launching an electronic platform to receive suggestions expands community dialogue by reaching non-members of the stock exchange” (watch, runtime: 11:55).