{"id":544866,"date":"2022-03-24T03:46:20","date_gmt":"2022-03-24T03:46:20","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2022\/03\/24\/here-we-go-egypt-imf-confirm-talks-over-new-program\/"},"modified":"2022-03-24T03:46:20","modified_gmt":"2022-03-24T03:46:20","slug":"here-we-go-egypt-imf-confirm-talks-over-new-program","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2022\/03\/24\/here-we-go-egypt-imf-confirm-talks-over-new-program\/","title":{"rendered":"Here we go: Egypt, IMF confirm talks over new program"},"content":{"rendered":"

<\/a> It\u2019s official: The government has requested support from the IMF<\/strong> to mitigate the impact of the war in Ukraine on its economy. Statements from the IMF<\/a> and cabinet<\/a> yesterday confirmed that the two sides are in talks on a new program, though it remains unclear what kind of assistance the Fund is willing to offer.<\/p>\n

It could include a new loan:<\/strong> Egypt is negotiating a \u201cprogram of support and technical advice\u201d that \u201cmay include additional financing,\u201d said cabinet spokesperson Nader Saad.<\/p>\n

The IMF said it is \u201cworking closely with the authorities to prepare for program discussions\u201d<\/strong> and that \u201ca set of macroeconomic and structural policy measures\u201d would be required to offset the economic shock caused by the conflict. The statement did not disclose further details.<\/p>\n

Analysts were expecting this: <\/strong>Analysts \u2060\u2014 including at JPMorgan, Goldman Sachs, Moody\u2019s and Capital Economics \u2060\u2014 have been floating<\/a> the possibility of a fresh IMF program after the CBE devalued the currency and hiked interest rates<\/a>, and the government announced new fiscal stimulus measures<\/a>. It is not clear if these were preconditions to landing support from the Fund, or mature policy moves that are expected to make the talks go smoother.<\/p>\n

Our policy actions received the IMF\u2019s seal of approval: <\/strong>The Madbouly government\u2019s move this week to devalue the EGP and shore up the social safety net was a \u201cwelcome step,\u201d it said. \u201cContinued exchange rate flexibility will be essential to absorb external shocks and safeguard financial buffers during this uncertain time.\u201d<\/p>\n

And it\u2019s all because\u2026<\/strong> fallout from the Ukraine conflict has combined with existing supply chain issues to send commodity prices soaring, leaving Egypt \u2014 a major commodities importer \u2014 exposed to a level of inflation the cabinet described as \u201cunprecedented.\u201d Rising interest rates around the world are also increasing the costs of financing, the cabinet said, a particular problem for countries such as Egypt which have sizeable amounts of USD-denominated debt. It also acknowledged that \u201cpanic among investors has led to the decline and exit of their investments from many emerging countries\u201d<\/p>\n

A reform pledge:<\/strong> The government will \u201ccontinue efforts to implement economic and structural reforms\u201d to ensure sustainable economic growth and increase the private sector\u2019s role in the economy, the cabinet said. Egypt will continue to cooperate with international partners and institutions, including the IMF, to achieve that, he said, adding that the Egyptian authorities have been in regular contact and consultation with the fund.<\/p>\n

To quote Yogi Berra, is it deja vu all over again?<\/strong> In November 2016, the EGP was devalued after the CBE floated the currency to meet a key demand by the IMF to secure aUSD 12 bn Extended Fund facility<\/a> over three years to stabilize our economy.<\/p>\n

We\u2019ve turned to the IMF twice more since:<\/strong> In 2020, Egypt borrowed USD 5.2 bn<\/a> under a standby agreement and USD 2.8 bn<\/a> under a rapid financing instrument following the outbreak of covid.<\/p>\n

Egypt is eligible for each of the three programs<\/strong>, a source familiar with discussions told Reuters<\/a> earlier this week. Egypt has exceeded its IMF borrowing quota, so any financial assistance will be lent under exceptional access criteria, meaning that the government will face greater scrutiny from the Fund, they said.<\/p>\n

The story is getting coverage all over the business press<\/strong>: Reuters<\/a>| AFP<\/a> | Bloomberg<\/a> | FT<\/a> | The National<\/a>.<\/p>\n","protected":false},"excerpt":{"rendered":"

It\u2019s official: The government has requested support from the IMF to mitigate the impact of the war in Ukraine on its economy. Statements from the IMF and cabinet yesterday confirmed that the two sides are in talks on a new program, though it remains unclear what kind of assistance the Fund is willing to offer. […]<\/p>\n","protected":false},"author":1,"featured_media":544867,"comment_status":"closed","ping_status":"open","sticky":false,"template":"single-feature.php","format":"standard","meta":{"_acf_changed":false,"newspack_ads_suppress_ads":false,"newspack_popups_has_disabled_popups":false,"newspack_sponsor_sponsorship_scope":"","newspack_sponsor_native_byline_display":"inherit","newspack_sponsor_native_category_display":"inherit","newspack_sponsor_underwriter_style":"inherit","newspack_sponsor_underwriter_placement":"inherit","ep_exclude_from_search":false,"_primary_brand":0,"newspack_featured_image_position":"","newspack_post_subtitle":"","newspack_article_summary_title":"Overview:","newspack_article_summary":"","newspack_hide_updated_date":false,"newspack_show_updated_date":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[7206],"tags":[1433,271,838,104,72,260,272,891,1324,1341],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-544866","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-economy","tag-capital-economics","tag-central-bank-of-egypt","tag-devaluation","tag-economy","tag-enterpriseam","tag-goldman-sachs","tag-imf","tag-madbouly-government","tag-moodys","tag-russia-ukraine-conflict","wpautop","entry"],"acf":{"mongo_id":"f0975edf-53e6-4124-90c6-965a54f7fc41","is_powered_by":true,"story_type":"1","photo_url":"https:\/\/ent.news\/2022\/3\/336.jpg","photo_position":"above","related_issue":[544862],"teaser":"","voice_url":""},"yoast_head":"\nHere we go: Egypt, IMF confirm talks over new program - EnterpriseAM Egypt<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/enterpriseam.com\/egypt\/2022\/03\/24\/here-we-go-egypt-imf-confirm-talks-over-new-program\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Here we go: Egypt, IMF confirm talks over new program\" \/>\n<meta property=\"og:description\" content=\"It\u2019s official: The government has requested support from the IMF to mitigate the impact of the war in Ukraine on its economy. Statements from the IMF and cabinet yesterday confirmed that the two sides are in talks on a new program, though it remains unclear what kind of assistance the Fund is willing to offer. […]\" \/>\n<meta property=\"og:url\" content=\"https:\/\/enterpriseam.com\/egypt\/2022\/03\/24\/here-we-go-egypt-imf-confirm-talks-over-new-program\/\" \/>\n<meta property=\"og:site_name\" content=\"EnterpriseAM Egypt\" \/>\n<meta property=\"article:published_time\" content=\"2022-03-24T03:46:20+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/i0.wp.com\/ent.news\/2022\/3\/336.jpg?fit=%2C&ssl=1\" \/>\n<meta name=\"author\" content=\"enterpriseam admin\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"enterpriseam admin\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"3 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2022\/03\/24\/here-we-go-egypt-imf-confirm-talks-over-new-program\/#article\",\"isPartOf\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2022\/03\/24\/here-we-go-egypt-imf-confirm-talks-over-new-program\/\"},\"author\":{\"name\":\"enterpriseam admin\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/#\/schema\/person\/ca597032db7e4db868359c123cec256d\"},\"headline\":\"Here we go: Egypt, IMF confirm talks over new program\",\"datePublished\":\"2022-03-24T03:46:20+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2022\/03\/24\/here-we-go-egypt-imf-confirm-talks-over-new-program\/\"},\"wordCount\":557,\"publisher\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/#organization\"},\"image\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2022\/03\/24\/here-we-go-egypt-imf-confirm-talks-over-new-program\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/i0.wp.com\/ent.news\/2022\/3\/336.jpg?fit=%2C&ssl=1\",\"keywords\":[\"Capital Economics\",\"Central Bank of Egypt\",\"devaluation\",\"economy\",\"EnterpriseAM\",\"Goldman Sachs\",\"IMF\",\"Madbouly Government\",\"Moody\u2019s\",\"Russia-Ukraine conflict\"],\"articleSection\":[\"Economy\"],\"inLanguage\":\"en-US\"},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2022\/03\/24\/here-we-go-egypt-imf-confirm-talks-over-new-program\/\",\"url\":\"https:\/\/enterpriseam.com\/egypt\/2022\/03\/24\/here-we-go-egypt-imf-confirm-talks-over-new-program\/\",\"name\":\"Here we go: Egypt, IMF confirm talks over new program - EnterpriseAM Egypt\",\"isPartOf\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2022\/03\/24\/here-we-go-egypt-imf-confirm-talks-over-new-program\/#primaryimage\"},\"image\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2022\/03\/24\/here-we-go-egypt-imf-confirm-talks-over-new-program\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/i0.wp.com\/ent.news\/2022\/3\/336.jpg?fit=%2C&ssl=1\",\"datePublished\":\"2022-03-24T03:46:20+00:00\",\"breadcrumb\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2022\/03\/24\/here-we-go-egypt-imf-confirm-talks-over-new-program\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/enterpriseam.com\/egypt\/2022\/03\/24\/here-we-go-egypt-imf-confirm-talks-over-new-program\/\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2022\/03\/24\/here-we-go-egypt-imf-confirm-talks-over-new-program\/#primaryimage\",\"url\":\"https:\/\/i0.wp.com\/ent.news\/2022\/3\/336.jpg?fit=%2C&ssl=1\",\"contentUrl\":\"https:\/\/i0.wp.com\/ent.news\/2022\/3\/336.jpg?fit=%2C&ssl=1\"},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2022\/03\/24\/here-we-go-egypt-imf-confirm-talks-over-new-program\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\/\/enterpriseam.com\/egypt\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"Here we go: Egypt, IMF confirm talks over new program\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/#website\",\"url\":\"https:\/\/enterpriseam.com\/egypt\/\",\"name\":\"EnterpriseAM\",\"description\":\"The State of the Nation\",\"publisher\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/#organization\"},\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\/\/enterpriseam.com\/egypt\/?s={search_term_string}\"},\"query-input\":{\"@type\":\"PropertyValueSpecification\",\"valueRequired\":true,\"valueName\":\"search_term_string\"}}],\"inLanguage\":\"en-US\"},{\"@type\":\"Organization\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/#organization\",\"name\":\"EnterpriseAM\",\"url\":\"https:\/\/enterpriseam.com\/egypt\/\",\"logo\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/#\/schema\/logo\/image\/\",\"url\":\"https:\/\/ent.news\/internal\/240894.svg\",\"contentUrl\":\"https:\/\/ent.news\/internal\/240894.svg\",\"caption\":\"EnterpriseAM\"},\"image\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/#\/schema\/logo\/image\/\"}},{\"@type\":\"Person\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/#\/schema\/person\/ca597032db7e4db868359c123cec256d\",\"name\":\"enterpriseam admin\",\"sameAs\":[\"http:\/\/enterpriseam.testing.projectsarea.com\"],\"url\":\"https:\/\/enterpriseam.com\/egypt\/author\/enterpriseam\/\"}]}<\/script>\n<!-- \/ Yoast SEO Premium plugin. -->","yoast_head_json":{"title":"Here we go: Egypt, IMF confirm talks over new program - EnterpriseAM Egypt","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/enterpriseam.com\/egypt\/2022\/03\/24\/here-we-go-egypt-imf-confirm-talks-over-new-program\/","og_locale":"en_US","og_type":"article","og_title":"Here we go: Egypt, IMF confirm talks over new program","og_description":"It\u2019s official: The government has requested support from the IMF to mitigate the impact of the war in Ukraine on its economy. Statements from the IMF and cabinet yesterday confirmed that the two sides are in talks on a new program, though it remains unclear what kind of assistance the Fund is willing to offer. […]","og_url":"https:\/\/enterpriseam.com\/egypt\/2022\/03\/24\/here-we-go-egypt-imf-confirm-talks-over-new-program\/","og_site_name":"EnterpriseAM Egypt","article_published_time":"2022-03-24T03:46:20+00:00","og_image":[{"url":"https:\/\/i0.wp.com\/ent.news\/2022\/3\/336.jpg?fit=%2C&ssl=1","type":"","width":"","height":""}],"author":"enterpriseam admin","twitter_card":"summary_large_image","twitter_misc":{"Written by":"enterpriseam admin","Est. reading time":"3 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"Article","@id":"https:\/\/enterpriseam.com\/egypt\/2022\/03\/24\/here-we-go-egypt-imf-confirm-talks-over-new-program\/#article","isPartOf":{"@id":"https:\/\/enterpriseam.com\/egypt\/2022\/03\/24\/here-we-go-egypt-imf-confirm-talks-over-new-program\/"},"author":{"name":"enterpriseam admin","@id":"https:\/\/enterpriseam.com\/egypt\/#\/schema\/person\/ca597032db7e4db868359c123cec256d"},"headline":"Here we go: Egypt, IMF confirm talks over new program","datePublished":"2022-03-24T03:46:20+00:00","mainEntityOfPage":{"@id":"https:\/\/enterpriseam.com\/egypt\/2022\/03\/24\/here-we-go-egypt-imf-confirm-talks-over-new-program\/"},"wordCount":557,"publisher":{"@id":"https:\/\/enterpriseam.com\/egypt\/#organization"},"image":{"@id":"https:\/\/enterpriseam.com\/egypt\/2022\/03\/24\/here-we-go-egypt-imf-confirm-talks-over-new-program\/#primaryimage"},"thumbnailUrl":"https:\/\/i0.wp.com\/ent.news\/2022\/3\/336.jpg?fit=%2C&ssl=1","keywords":["Capital Economics","Central Bank of Egypt","devaluation","economy","EnterpriseAM","Goldman Sachs","IMF","Madbouly Government","Moody\u2019s","Russia-Ukraine conflict"],"articleSection":["Economy"],"inLanguage":"en-US"},{"@type":"WebPage","@id":"https:\/\/enterpriseam.com\/egypt\/2022\/03\/24\/here-we-go-egypt-imf-confirm-talks-over-new-program\/","url":"https:\/\/enterpriseam.com\/egypt\/2022\/03\/24\/here-we-go-egypt-imf-confirm-talks-over-new-program\/","name":"Here we go: Egypt, IMF confirm talks over new program - EnterpriseAM Egypt","isPartOf":{"@id":"https:\/\/enterpriseam.com\/egypt\/#website"},"primaryImageOfPage":{"@id":"https:\/\/enterpriseam.com\/egypt\/2022\/03\/24\/here-we-go-egypt-imf-confirm-talks-over-new-program\/#primaryimage"},"image":{"@id":"https:\/\/enterpriseam.com\/egypt\/2022\/03\/24\/here-we-go-egypt-imf-confirm-talks-over-new-program\/#primaryimage"},"thumbnailUrl":"https:\/\/i0.wp.com\/ent.news\/2022\/3\/336.jpg?fit=%2C&ssl=1","datePublished":"2022-03-24T03:46:20+00:00","breadcrumb":{"@id":"https:\/\/enterpriseam.com\/egypt\/2022\/03\/24\/here-we-go-egypt-imf-confirm-talks-over-new-program\/#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/enterpriseam.com\/egypt\/2022\/03\/24\/here-we-go-egypt-imf-confirm-talks-over-new-program\/"]}]},{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/enterpriseam.com\/egypt\/2022\/03\/24\/here-we-go-egypt-imf-confirm-talks-over-new-program\/#primaryimage","url":"https:\/\/i0.wp.com\/ent.news\/2022\/3\/336.jpg?fit=%2C&ssl=1","contentUrl":"https:\/\/i0.wp.com\/ent.news\/2022\/3\/336.jpg?fit=%2C&ssl=1"},{"@type":"BreadcrumbList","@id":"https:\/\/enterpriseam.com\/egypt\/2022\/03\/24\/here-we-go-egypt-imf-confirm-talks-over-new-program\/#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/enterpriseam.com\/egypt\/"},{"@type":"ListItem","position":2,"name":"Here we go: Egypt, IMF confirm talks over new program"}]},{"@type":"WebSite","@id":"https:\/\/enterpriseam.com\/egypt\/#website","url":"https:\/\/enterpriseam.com\/egypt\/","name":"EnterpriseAM","description":"The State of the Nation","publisher":{"@id":"https:\/\/enterpriseam.com\/egypt\/#organization"},"potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/enterpriseam.com\/egypt\/?s={search_term_string}"},"query-input":{"@type":"PropertyValueSpecification","valueRequired":true,"valueName":"search_term_string"}}],"inLanguage":"en-US"},{"@type":"Organization","@id":"https:\/\/enterpriseam.com\/egypt\/#organization","name":"EnterpriseAM","url":"https:\/\/enterpriseam.com\/egypt\/","logo":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/enterpriseam.com\/egypt\/#\/schema\/logo\/image\/","url":"https:\/\/ent.news\/internal\/240894.svg","contentUrl":"https:\/\/ent.news\/internal\/240894.svg","caption":"EnterpriseAM"},"image":{"@id":"https:\/\/enterpriseam.com\/egypt\/#\/schema\/logo\/image\/"}},{"@type":"Person","@id":"https:\/\/enterpriseam.com\/egypt\/#\/schema\/person\/ca597032db7e4db868359c123cec256d","name":"enterpriseam admin","sameAs":["http:\/\/enterpriseam.testing.projectsarea.com"],"url":"https:\/\/enterpriseam.com\/egypt\/author\/enterpriseam\/"}]}},"featured_image_src":"https:\/\/i0.wp.com\/ent.news\/2022\/3\/336.jpg?resize=600%2C400&ssl=1","featured_image_src_square":"https:\/\/i0.wp.com\/ent.news\/2022\/3\/336.jpg?resize=600%2C600&ssl=1","author_info":{"display_name":"enterpriseam admin","author_link":"https:\/\/enterpriseam.com\/egypt\/author\/enterpriseam\/"},"jetpack_featured_media_url":"https:\/\/i0.wp.com\/ent.news\/2022\/3\/336.jpg?fit=%2C&ssl=1","jetpack_sharing_enabled":true,"jetpack-related-posts":[{"id":546412,"url":"https:\/\/enterpriseam.com\/egypt\/2022\/05\/16\/an-agreement-with-the-imf-is-coming-within-months\/","url_meta":{"origin":544866,"position":0},"title":"An agreement with the IMF is coming \u201cwithin months\u201d","author":"enterpriseam admin","date":"16 May 2022","format":false,"excerpt":"A fresh IMF program could be sealed in a few months: The government expects to reach an agreement with the IMF on a fresh support package \u201cwithin months\u201d, Prime Minister Moustafa Madbouly said yesterday at a presser (watch, runtime:2:07:15).What IMF program? The government has been in talks with the IMF\u2026","rel":"","context":"In "Economy"","block_context":{"text":"Economy","link":"https:\/\/enterpriseam.com\/egypt\/category\/economy\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2022\/5\/185.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":546690,"url":"https:\/\/enterpriseam.com\/egypt\/2022\/05\/25\/imf-program-in-2-months\/","url_meta":{"origin":544866,"position":1},"title":"IMF program in 2 months?","author":"enterpriseam admin","date":"25 May 2022","format":false,"excerpt":"Egypt hopes to finalize a fresh assistance program with the IMF \u201cwithin two months,\u201d Prime Minister Moustafa Madbouly told lawmakers yesterday in an address focusing on the government\u2019s response to what he said was the worst global crisis since the Second World War, according to cabinet statements (hereand here). Madbouly\u2026","rel":"","context":"In "Economy"","block_context":{"text":"Economy","link":"https:\/\/enterpriseam.com\/egypt\/category\/economy\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2022\/5\/332.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":544714,"url":"https:\/\/enterpriseam.com\/egypt\/2022\/03\/17\/imf-program-rate-hikes-in-the-cards-as-ukraine-war-pressures-budget-fitch\/","url_meta":{"origin":544866,"position":2},"title":"IMF program + rate hikes in the cards as Ukraine war pressures budget -Fitch","author":"enterpriseam admin","date":"17 March 2022","format":false,"excerpt":"Fitch sees new IMF program, rate hike as Ukraine conflict raises pressure on gov\u2019t finances: Lower tourism inflows, higher food prices and tighter financial conditions driven by the war in Ukraine will put pressure on Egypt\u2019s fiscal position, increasing the likelihood of Egypt taking on new funding from the International\u2026","rel":"","context":"In "Economy"","block_context":{"text":"Economy","link":"https:\/\/enterpriseam.com\/egypt\/category\/economy\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2022\/3\/221.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":548806,"url":"https:\/\/enterpriseam.com\/egypt\/2022\/08\/23\/imf-talks-in-final-stages-says-madbouly\/","url_meta":{"origin":544866,"position":3},"title":"IMF talks in \u201cfinal stages,\u201d says Madbouly","author":"enterpriseam admin","date":"23 August 2022","format":false,"excerpt":"Egypt and the IMF are in the \u201cfinal stages\u201d of talks for a fresh facility to help shore up the economy, Prime Minister Moustafa Madbouly said in a cabinet statement yesterday. The statement didn\u2019t provide any details about the talks. Madbouly\u2019s statement comes amid growing pressure on the EGP and\u2026","rel":"","context":"In "Economy"","block_context":{"text":"Economy","link":"https:\/\/enterpriseam.com\/egypt\/category\/economy\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2022\/8\/354.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":544835,"url":"https:\/\/enterpriseam.com\/egypt\/2022\/03\/23\/more-chatter-that-we-are-indeed-going-to-talk-to-the-imf-about-a-new-program\/","url_meta":{"origin":544866,"position":4},"title":"More chatter that we are, indeed, going to talk to the IMF about a new program","author":"enterpriseam admin","date":"23 March 2022","format":false,"excerpt":"More analysts are speculating that thefiscal stimulus package and monetary policy measures announced Monday will pave the way for a fresh IMF program as the ongoing commodity price shock puts strain on the economy. Since the start of the war in Ukraine, sporadic reports that the government is in discussions\u2026","rel":"","context":"In "Economy"","block_context":{"text":"Economy","link":"https:\/\/enterpriseam.com\/egypt\/category\/economy\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2022\/3\/310.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":596527,"url":"https:\/\/enterpriseam.com\/egypt\/2019\/07\/01\/imf-says-no-talks-with-egypt-over-new-program\/","url_meta":{"origin":544866,"position":5},"title":"IMF says no talks with Egypt over new program","author":"enterpriseam admin","date":"1 July 2019","format":false,"excerpt":"Finish your plate before asking for a new program, IMF tells Egypt: The International Monetary Fund (IMF) will not open talks with Egypt over new support until the government has finished implementing the current program of economic reforms, IMF assistant communications director Camilla Andersen told a press briefing. \u201cWe\u2019re not\u2026","rel":"","context":"In "Speed Round"","block_context":{"text":"Speed Round","link":"https:\/\/enterpriseam.com\/egypt\/category\/speed-round\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]}],"_links":{"self":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/544866","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/comments?post=544866"}],"version-history":[{"count":0,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/544866\/revisions"}],"acf:post":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/issue\/544862"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media\/544867"}],"wp:attachment":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media?parent=544866"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/categories?post=544866"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/tags?post=544866"},{"taxonomy":"brand","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/brand?post=544866"},{"taxonomy":"newspack_spnsrs_tax","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/newspack_spnsrs_tax?post=544866"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}