{"id":543364,"date":"2022-01-30T13:44:15","date_gmt":"2022-01-30T13:44:15","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2022\/01\/30\/this-evening-our-debt-wont-become-euroclearable-before-2h2022-eu-files-challenge-against-egypt-at-wto-over-compulsory-import-registration-requirements\/"},"modified":"2022-01-30T13:44:15","modified_gmt":"2022-01-30T13:44:15","slug":"this-evening-our-debt-wont-become-euroclearable-before-2h2022-eu-files-challenge-against-egypt-at-wto-over-compulsory-import-registration-requirements","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2022\/01\/30\/this-evening-our-debt-wont-become-euroclearable-before-2h2022-eu-files-challenge-against-egypt-at-wto-over-compulsory-import-registration-requirements\/","title":{"rendered":"THIS EVENING: Our debt won\u2019t become Euroclearable before 2H2022 + EU files challenge against Egypt at WTO over compulsory import registration requirements"},"content":{"rendered":"

Good afternoon, ladies and gentlemen.<\/strong> Welcome to a new week, and a holiday drought that is sticking around until late April, when Sham El Nessim rolls around. We hope you made this most recent long weekend really count.<\/p>\n

<\/a> THE BIG STORIES TODAY<\/strong><\/p>\n

#1- Our debt won\u2019t become Euroclearable before 2H2022<\/strong>, CNBC<\/a> quotes Finance Minister Mohamed Maait as saying, signaling that the process of meeting the European clearinghouse\u2019s requirements is taking longer than anticipated. Maait had said in September<\/a> that Egypt had already satisfied 95% of the requirements, signaling we could reach a final agreement that would allow our local debt to be cleared in Europe by March of this year. Enterprise is reaching out to the Finance Ministry for more details.<\/p>\n

#2- The EU has filed a challenge against Egypt at the World Trade Organization (WTO)<\/strong> over our <\/strong>compulsory import registration requirements<\/strong>, saying these requirements are \u201carbitrary,\u201d the bloc said in a statement<\/a> on Wednesday. Egypt and the EU have 60 days to try to reach a resolution for the matter through the dispute settlement consultations the EU has requested. If these consultations fail, the EU can request that the WTO set up a panel to rule on the matter. Enterprise is reaching out to the Trade Ministry for further information.<\/p>\n

^^ We\u2019ll have more on these stories in tomorrow\u2019s edition of EnterpriseAM.<\/strong><\/p>\n

Also, today: FRA donates EGP 500 mn to Decent Life, \u201cDifferently Abled\u201d<\/strong> initiatives:<\/strong> The Financial Regulatory Authority is donating EGP 500 mn from its budget surplus to the Sisi administration\u2019s Decent Life initiative and the program to support individuals with disabilities, in a bid to support the government\u2019s social intervention programs, according to a statement (pdf)<\/a>.<\/p>\n

HAPPENING NOW-<\/strong><\/p>\n

<\/a> Amendments to the Real Estate Registry Act are currently being discussed at the House<\/strong> of Representatives<\/strong>, where a joint committee of the House Constitutional and Legislative Committee and the House Planning and Budgeting Committee are looking at the bill. The proposed changes, which the Madbouly Cabinet approved in November<\/a>, are expected to significantly trim the painstaking registration process by waiving the need to obtain pre-approval at the real estate registry office prior to obtaining the final seal and putting a time ceiling on the entire process.<\/p>\n

** CATCH UP QUICK<\/strong> on the top stories from today\u2019s EnterpriseAM<\/strong>:<\/p>\n