{"id":571315,"date":"2020-05-07T04:00:42","date_gmt":"2020-05-07T04:00:42","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2020\/05\/07\/imf-expected-to-approve-usd-2-7-bn-in-fresh-funding-for-egypt-on-monday\/"},"modified":"2020-05-07T04:00:42","modified_gmt":"2020-05-07T04:00:42","slug":"imf-expected-to-approve-usd-2-7-bn-in-fresh-funding-for-egypt-on-monday","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2020\/05\/07\/imf-expected-to-approve-usd-2-7-bn-in-fresh-funding-for-egypt-on-monday\/","title":{"rendered":"IMF expected to approve USD 2.7 bn in fresh funding for Egypt on Monday"},"content":{"rendered":"

<\/a> The IMF is expected to approve USD 2.7 bn in new funding for Egypt when it <\/strong>meets on <\/strong>Monday<\/strong>, Bloomberg reports<\/a>, citing an official familiar with the matter. Egypt applied last month for new funding via a one-year rapid financing instrument (RFI) and a stand-by arrangement (SBA) to help support its balance of payments and maintain its reform momentum. \u201cThe IMF staff is in discussions with the authorities and expects to present the RFI request to the board on 11 May,\u201d IMF Mission Chief for Egypt Uma Ramakrishnan told Bloomberg. A report in the local press earlier this week<\/a> claimed that Egypt could receive the first tranche of funding by Monday, citing an unnamed central bank official.<\/p>\n

The <\/strong>calendar page<\/a><\/strong> for the IMF\u2019s executive board for Monday shows only one agenda <\/strong>item: <\/strong>a discussion of Egypt\u2019s request for an RFI.<\/p>\n

We\u2019re still not clear on how much we\u2019re going to get via the SBA: <\/strong>The agreement will, like the RFI, last for one year and will be accompanied with a sovereign bond issuance to shore up Egypt\u2019s current account, the official said, without providing a figure. The Institute of International Finance (IIF) said in a research note this week that, overall, we could receive up to USD 8.4 bn (or 300% of our quota) under both arrangements, but this would depend on financing needs, repayment capacity, and our track record in using previous IMF funds.<\/p>\n","protected":false},"excerpt":{"rendered":"

The IMF is expected to approve USD 2.7 bn in new funding for Egypt when it meets on Monday, Bloomberg reports, citing an official familiar with the matter. Egypt applied last month for new funding via a one-year rapid financing instrument (RFI) and a stand-by arrangement (SBA) to help support its balance of payments and […]<\/p>\n","protected":false},"author":1,"featured_media":571316,"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":[8572],"tags":[107,7106,72,2380],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-571315","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-speed-round","tag-covid-19","tag-debt","tag-enterpriseam","tag-speed-round","wpautop","entry"],"acf":{"mongo_id":"6a6e2b8c-d828-4a7c-b218-b1aeeac53552","is_powered_by":true,"story_type":"1","photo_url":"https:\/\/ent.news\/2020\/5\/71.jpg","photo_position":"above","related_issue":[571310],"teaser":"","voice_url":""},"yoast_head":"\nIMF expected to approve USD 2.7 bn in fresh funding for Egypt on Monday - 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\/2020\/05\/07\/imf-expected-to-approve-usd-2-7-bn-in-fresh-funding-for-egypt-on-monday\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"IMF expected to approve USD 2.7 bn in fresh funding for Egypt on Monday\" \/>\n<meta property=\"og:description\" content=\"The IMF is expected to approve USD 2.7 bn in new funding for Egypt when it meets on Monday, Bloomberg reports, citing an official familiar with the matter. Egypt applied last month for new funding via a one-year rapid financing instrument (RFI) and a stand-by arrangement (SBA) to help support its balance of payments and […]\" \/>\n<meta property=\"og:url\" content=\"https:\/\/enterpriseam.com\/egypt\/2020\/05\/07\/imf-expected-to-approve-usd-2-7-bn-in-fresh-funding-for-egypt-on-monday\/\" \/>\n<meta property=\"og:site_name\" content=\"EnterpriseAM Egypt\" \/>\n<meta property=\"article:published_time\" content=\"2020-05-07T04:00:42+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/i0.wp.com\/ent.news\/2020\/5\/71.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=\"1 minute\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2020\/05\/07\/imf-expected-to-approve-usd-2-7-bn-in-fresh-funding-for-egypt-on-monday\/#article\",\"isPartOf\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2020\/05\/07\/imf-expected-to-approve-usd-2-7-bn-in-fresh-funding-for-egypt-on-monday\/\"},\"author\":{\"name\":\"enterpriseam admin\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/#\/schema\/person\/ca597032db7e4db868359c123cec256d\"},\"headline\":\"IMF expected to approve USD 2.7 bn in fresh funding for Egypt on Monday\",\"datePublished\":\"2020-05-07T04:00:42+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2020\/05\/07\/imf-expected-to-approve-usd-2-7-bn-in-fresh-funding-for-egypt-on-monday\/\"},\"wordCount\":249,\"publisher\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/#organization\"},\"image\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2020\/05\/07\/imf-expected-to-approve-usd-2-7-bn-in-fresh-funding-for-egypt-on-monday\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/i0.wp.com\/ent.news\/2020\/5\/71.jpg?fit=%2C&ssl=1\",\"keywords\":[\"covid-19\",\"debt\",\"EnterpriseAM\",\"SPEED ROUND\"],\"articleSection\":[\"Speed Round\"],\"inLanguage\":\"en-US\"},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2020\/05\/07\/imf-expected-to-approve-usd-2-7-bn-in-fresh-funding-for-egypt-on-monday\/\",\"url\":\"https:\/\/enterpriseam.com\/egypt\/2020\/05\/07\/imf-expected-to-approve-usd-2-7-bn-in-fresh-funding-for-egypt-on-monday\/\",\"name\":\"IMF expected to approve USD 2.7 bn in fresh funding for Egypt on Monday - 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The IMF disbursed the funding last month, a day after it was approved. The RFI will help\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":[]},{"id":571948,"url":"https:\/\/enterpriseam.com\/egypt\/2020\/06\/07\/imf-gives-initial-nod-to-usd-5-2-bn-in-fresh-funding-to-egypt\/","url_meta":{"origin":571315,"position":2},"title":"IMF gives initial nod to USD 5.2 bn in fresh funding to Egypt","author":"enterpriseam admin","date":"7 June 2020","format":false,"excerpt":"IMF gives initial nod to USD 5.2 bn in fresh funding to Egypt: The IMF reached a staff-level agreement to provide Egypt with a one-year, USD 5.2 bn stand-by arrangement (SBA) to help the country withstand the economic fallout from the covid-19 pandemic, according to a statement on Friday. The\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\/2020\/6\/71.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":571434,"url":"https:\/\/enterpriseam.com\/egypt\/2020\/05\/12\/imf-greenlights-usd-2-8-bn-in-pandemic-aid-to-egypt\/","url_meta":{"origin":571315,"position":3},"title":"IMF greenlights USD 2.8 bn in pandemic aid to Egypt","author":"enterpriseam admin","date":"12 May 2020","format":false,"excerpt":"IMF greenlights USD 2.8 bn in pandemic aid to Egypt: The International Monetary Fund\u2019s executive board signed off yesterday on the USD 2.77 bn rapid financing instrument (RFI) the Madbouly government asked for last month to help support its balance of payments as Egypt grapples with fallout from covid-19. \u201cThe\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\/2020\/5\/115.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":571518,"url":"https:\/\/enterpriseam.com\/egypt\/2020\/05\/14\/egypt-wants-usd-9-bn-in-funding-from-imf-other-intl-lenders\/","url_meta":{"origin":571315,"position":4},"title":"Egypt wants USD 9 bn in funding from IMF + other int\u2019l lenders","author":"enterpriseam admin","date":"14 May 2020","format":false,"excerpt":"Egypt is lining up another USD 9 bn from int\u2019l lenders to plug budget deficit, shore up reserves: The Madbouly government is in talks with international lenders for an additional USD 9 bn to help it plug its budget deficit as it spends bns to fight covid-19, Bloomberg reports, citing\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\/2020\/5\/154.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":571722,"url":"https:\/\/enterpriseam.com\/egypt\/2020\/05\/21\/with-fresh-imf-funding-in-place-and-more-to-come-finmin-could-cut-back-on-local-borrowing-to-curb-the-cost-of-servicing-its-debt\/","url_meta":{"origin":571315,"position":5},"title":"With fresh IMF funding in place and more to come, FinMin could cut back on local borrowing to curb the cost of servicing its debt","author":"enterpriseam admin","date":"21 May 2020","format":false,"excerpt":"With fresh IMF funding in place and more to come, FinMin could cut back on local borrowing to curb the cost of servicing its debt: The Finance Ministry could cut down on the number of bids it accepts in EGP-denominated bond sales until the end of FY2019-2020, which wraps on\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\/571315","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=571315"}],"version-history":[{"count":0,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/571315\/revisions"}],"acf:post":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/issue\/571310"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media\/571316"}],"wp:attachment":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media?parent=571315"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/categories?post=571315"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/tags?post=571315"},{"taxonomy":"brand","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/brand?post=571315"},{"taxonomy":"newspack_spnsrs_tax","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/newspack_spnsrs_tax?post=571315"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}