{"id":544928,"date":"2022-03-28T03:45:46","date_gmt":"2022-03-28T03:45:46","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2022\/03\/28\/a-mixed-bag-on-the-airwaves-imf-assistance-high-speed-rail-and-more-complaints-about-l-cs\/"},"modified":"2022-03-28T03:45:46","modified_gmt":"2022-03-28T03:45:46","slug":"a-mixed-bag-on-the-airwaves-imf-assistance-high-speed-rail-and-more-complaints-about-l-cs","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2022\/03\/28\/a-mixed-bag-on-the-airwaves-imf-assistance-high-speed-rail-and-more-complaints-about-l-cs\/","title":{"rendered":"A mixed bag on the airwaves: IMF assistance, high speed rail, and more complaints about L\/Cs"},"content":{"rendered":"

<\/a> There was more speculation over what an IMF program might look like on the <\/strong>airwaves last night<\/strong>: MP Fakhri El Feki, head of the House Planning and Budget Committee, offered a few of his own guesses in a phone-in with Kelma Akhira\u2019s Lamees El Hadidi (watch, runtime: 6:09<\/a>). The MP floated the possibility of obtaining a USD 3 bn precautionary and liquidity line or a new extended fund facility under which the IMF lent Egypt USD 12 bn back in 2016. Deputy Planning Minister Ahmed Kamaly also chatted via phone with El Hadidi (watch, runtime: 14:41<\/a>), reiterating that the government is preparing to make spending cuts<\/a> in the coming fiscal year.<\/p>\n

Background: <\/strong>The government has requested support<\/a> from the IMF to mitigate the impact of the war in Ukraine on its economy, though it remains unclear what kind of assistance the Fund is willing to offer.<\/p>\n

High-speed rail: Coming June <\/strong>2024<\/strong>.<\/strong> The first phase of the high-speed electric railway \u2014 connecting Ain Sokhna to Matrouh \u2014 will start operating in June 2024, Transport Ministry Kamel El Wazir told Ala Mas\u2019ouleety\u2019s Ahmed Moussa in a phone-in (watch, runtime: 6:02<\/a>). German rail operator Deutsche Bahn has applied to operate the first line of the high-speed service<\/strong>, and the ticket price will be decided in coordination with the Egyptian government, the minister said (watch, runtime: 4:16<\/a>).<\/p>\n

Background:<\/strong> In September, the government signed a USD 4.5 bn contract<\/a> with Siemens Mobility, Orascom Construction and Arab Contractors to build the first 660-km phase of the line. The entire USD 23 bn project<\/a> will see the line eventually expanded 1.8k km across the country, linking Cairo, Aswan, the North Coast and the Red Sea.<\/p>\n

Clothing manufacturers are the latest to warn of the negative impact of mandatory L\/Cs<\/strong>:<\/strong> Some apparel factories will have to temporarily halt operations due to the repercussions of the Central Bank of Egypt\u2019s decision to require letters of credit for purchases, said Marie Louis, head of the Apparel Export Council, in a phone-in with El Hekaya\u2019s Amr Adib (watch, runtime 3:46<\/a>). As of this month, banks have required most importers to use letters of credit to import goods after the CBE banned the use of documentary collection. Tobacco manufacturers warned<\/a> last week that the rules were forcing companies to hike prices.<\/p>\n","protected":false},"excerpt":{"rendered":"

There was more speculation over what an IMF program might look like on the airwaves last night: MP Fakhri El Feki, head of the House Planning and Budget Committee, offered a few of his own guesses in a phone-in with Kelma Akhira\u2019s Lamees El Hadidi (watch, runtime: 6:09). The MP floated the possibility of obtaining […]<\/p>\n","protected":false},"author":1,"featured_media":0,"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":[7232],"tags":[72,272,7111,1415,106,132,207],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-544928","post","type-post","status-publish","format-standard","hentry","category-last-nights-talk-shows","tag-enterpriseam","tag-imf","tag-infrastructure","tag-l-cs","tag-last-nights-talk-shows","tag-trade","tag-transport","wpautop","entry"],"acf":{"mongo_id":"8d59bb6a-b1fa-481e-8fda-6347ecb8587b","is_powered_by":true,"story_type":"1","photo_url":"","photo_position":"above","related_issue":[544917],"teaser":"","voice_url":""},"yoast_head":"\nA mixed bag on the airwaves: IMF assistance, high speed rail, and more complaints about L\/Cs - 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\/28\/a-mixed-bag-on-the-airwaves-imf-assistance-high-speed-rail-and-more-complaints-about-l-cs\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"A mixed bag on the airwaves: IMF assistance, high speed rail, and more complaints about L\/Cs\" \/>\n<meta property=\"og:description\" content=\"There was more speculation over what an IMF program might look like on the airwaves last night: MP Fakhri El Feki, head of the House Planning and Budget Committee, offered a few of his own guesses in a phone-in with Kelma Akhira\u2019s Lamees El Hadidi (watch, runtime: 6:09). 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The hosts of Kelma Akhira (watch, runtime: 22:51),El Hekaya (watch, runtime: 1:11 | 1:45), Masaa DMC (watch, runtime: 3:58), Al Hayah Al Youm (watch,\u2026","rel":"","context":"In "LAST NIGHT\u2019S TALK SHOWS"","block_context":{"text":"LAST NIGHT\u2019S TALK SHOWS","link":"https:\/\/enterpriseam.com\/egypt\/category\/last-nights-talk-shows\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2023\/12\/590.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":613773,"url":"https:\/\/enterpriseam.com\/egypt\/2024\/01\/21\/the-economy-was-all-everyone-could-talk-about-on-the-airwaves-last-night\/","url_meta":{"origin":544928,"position":1},"title":"The economy was all everyone could talk about on the airwaves last night","author":"enterpriseam admin","date":"21 January 2024","format":false,"excerpt":"Former deputy PM Ziad Bahaa El Din proposed five emergency measures to rectify the economy","rel":"","context":"In "LAST NIGHT\u2019S TALK SHOWS"","block_context":{"text":"LAST NIGHT\u2019S TALK SHOWS","link":"https:\/\/enterpriseam.com\/egypt\/category\/last-nights-talk-shows\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2024\/1\/1667.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":611232,"url":"https:\/\/enterpriseam.com\/egypt\/2023\/12\/04\/could-the-war-on-gaza-help-us-secure-a-larger-imf-loan\/","url_meta":{"origin":544928,"position":2},"title":"Could the war on Gaza help us secure a larger IMF loan?","author":"enterpriseam admin","date":"4 December 2023","format":false,"excerpt":"It was another econ-heavy night on the airwaves, as our favorite talk show host Lamees El Hadidi brought us the latest on our IMF loan agreement. The remaining talking heads were hyperfixed on the presidential elections. War on our border = more money from the IMF? 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