{"id":578309,"date":"2022-12-22T04:00:54","date_gmt":"2022-12-22T04:00:54","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2022\/12\/22\/govt-discusses-imports-support-measures-as-it-prepares-to-lift-curbs\/"},"modified":"2022-12-22T04:00:54","modified_gmt":"2022-12-22T04:00:54","slug":"govt-discusses-imports-support-measures-as-it-prepares-to-lift-curbs","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2022\/12\/22\/govt-discusses-imports-support-measures-as-it-prepares-to-lift-curbs\/","title":{"rendered":"Gov\u2019t discusses imports, support measures as it prepares to lift curbs"},"content":{"rendered":"

<\/a> Getting imported goods into the country:<\/strong> That was the subject of a meeting yesterday between Prime Minister Moustafa Madbouly, Central Bank of Egypt chief Hassan Abdalla, the finance and trade ministers, and the head of the Customs Authority, according to a statement<\/a> released by the cabinet following the discussion.<\/p>\n

Why this matters: The government\u2019s import controls could be coming to an end before the end of the month.<\/strong> Authorities have pledged to scrap the requirement for businesses to use letters of credit to finance imports by the end of this month<\/a> as part of its agreement with the IMF to transition to a flexible exchange rate.<\/p>\n

The IMF sent a public reminder about this commitment earlier this week:<\/strong> In an interview with Reuters, the IMF mission chief for Egypt said that the Fund will be watching closely<\/a> in the new year to assess whether the country has transitioned to a fully floating exchange rate. Egypt agreed to \u201cpermanently\u201d adopt a flexible exchange rate in return for obtaining a USD 3 bn loan from the IMF.<\/p>\n

Authorities are readying assistance from the beginning of next month: <\/strong>State-owned companies will start selling discounted goods to the public from the beginning of January under a directive issued by the prime minister<\/a> yesterday. This came during a meeting with the supply and local development ministers, who will work with the Interior Ministry and military-owned companies to provide discounted goods until the end of Ramadan in April.<\/p>\n

Why this matters: Inflation is set to accelerate in the new year. <\/strong>Adopting a flexible exchange rate is going to mean a more intense spell of inflation, heaping pressure on people on lower incomes. Some analysts are expecting inflation to accelerate into the high 20s<\/a> during the first quarter of next year<\/p>\n","protected":false},"excerpt":{"rendered":"

Getting imported goods into the country: That was the subject of a meeting yesterday between Prime Minister Moustafa Madbouly, Central Bank of Egypt chief Hassan Abdalla, the finance and trade ministers, and the head of the Customs Authority, according to a statement released by the cabinet following the discussion. Why this matters: The government\u2019s import […]<\/p>\n","protected":false},"author":1,"featured_media":578310,"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":[104,1419,72,272,182,281],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-578309","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-economy","tag-economy","tag-egp","tag-enterpriseam","tag-imf","tag-inflation","tag-moustafa-madbouly","wpautop","entry"],"acf":{"mongo_id":"37d0db98-5b0f-4dcb-837e-b51d86878ecb","is_powered_by":true,"story_type":"1","photo_url":"https:\/\/ent.news\/2022\/12\/481.jpg","photo_position":"above","related_issue":[578304],"teaser":"","voice_url":""},"yoast_head":"\nGov\u2019t discusses imports, support measures as it prepares to lift curbs - 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\/12\/22\/govt-discusses-imports-support-measures-as-it-prepares-to-lift-curbs\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Gov\u2019t discusses imports, support measures as it prepares to lift curbs\" \/>\n<meta property=\"og:description\" content=\"Getting imported goods into the country: That was the subject of a meeting yesterday between Prime Minister Moustafa Madbouly, Central Bank of Egypt chief Hassan Abdalla, the finance and trade ministers, and the head of the Customs Authority, according to a statement released by the cabinet following the discussion. Why this matters: The government\u2019s import […]\" \/>\n<meta property=\"og:url\" content=\"https:\/\/enterpriseam.com\/egypt\/2022\/12\/22\/govt-discusses-imports-support-measures-as-it-prepares-to-lift-curbs\/\" \/>\n<meta property=\"og:site_name\" content=\"EnterpriseAM Egypt\" \/>\n<meta property=\"article:published_time\" content=\"2022-12-22T04:00:54+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/i0.wp.com\/ent.news\/2022\/12\/481.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\/2022\/12\/22\/govt-discusses-imports-support-measures-as-it-prepares-to-lift-curbs\/#article\",\"isPartOf\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2022\/12\/22\/govt-discusses-imports-support-measures-as-it-prepares-to-lift-curbs\/\"},\"author\":{\"name\":\"enterpriseam admin\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/#\/schema\/person\/ca597032db7e4db868359c123cec256d\"},\"headline\":\"Gov\u2019t discusses imports, support measures as it prepares to lift curbs\",\"datePublished\":\"2022-12-22T04:00:54+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2022\/12\/22\/govt-discusses-imports-support-measures-as-it-prepares-to-lift-curbs\/\"},\"wordCount\":306,\"publisher\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/#organization\"},\"image\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2022\/12\/22\/govt-discusses-imports-support-measures-as-it-prepares-to-lift-curbs\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/i0.wp.com\/ent.news\/2022\/12\/481.jpg?fit=%2C&ssl=1\",\"keywords\":[\"economy\",\"EGP\",\"EnterpriseAM\",\"IMF\",\"inflation\",\"Moustafa Madbouly\"],\"articleSection\":[\"Economy\"],\"inLanguage\":\"en-US\"},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2022\/12\/22\/govt-discusses-imports-support-measures-as-it-prepares-to-lift-curbs\/\",\"url\":\"https:\/\/enterpriseam.com\/egypt\/2022\/12\/22\/govt-discusses-imports-support-measures-as-it-prepares-to-lift-curbs\/\",\"name\":\"Gov\u2019t discusses imports, support measures as it prepares to lift curbs - 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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":548806,"url":"https:\/\/enterpriseam.com\/egypt\/2022\/08\/23\/imf-talks-in-final-stages-says-madbouly\/","url_meta":{"origin":578309,"position":2},"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":577375,"url":"https:\/\/enterpriseam.com\/egypt\/2022\/11\/21\/central-bank-to-end-support-for-subsidized-loans\/","url_meta":{"origin":578309,"position":3},"title":"Central bank to end support for subsidized loans","author":"enterpriseam admin","date":"21 November 2022","format":false,"excerpt":"The Central Bank of Egypt is going to stop providing funding for subsidized loans and pass the responsibility to the housing, finance and tourism ministries, under a decree issued by Prime Minister Moustafa Madbouly in the Official Gazette yesterday. Refresher: For the past couple of years, the CBE has run\u2026","rel":"","context":"In "Policy"","block_context":{"text":"Policy","link":"https:\/\/enterpriseam.com\/egypt\/category\/policy\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2022\/11\/315.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":549729,"url":"https:\/\/enterpriseam.com\/egypt\/2022\/09\/28\/an-imf-agreement-could-be-sealed-before-the-end-of-the-month-according-to-goldman\/","url_meta":{"origin":578309,"position":4},"title":"An IMF agreement could be sealed before the end of the month, according to Goldman","author":"enterpriseam admin","date":"28 September 2022","format":false,"excerpt":"IMF program by the end of this month? EGP to 24? A mood of \u201ccautious optimism\u201d? These are some of the suggestions in a new report from Goldman Sachs, which recently sent a team to Egypt to talk to figures from the private- and public-sectors \u2014 including the Finance Ministry,\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\/9\/402.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":577899,"url":"https:\/\/enterpriseam.com\/egypt\/2022\/12\/08\/last-nights-talk-shows-madbouly-has-a-plan-to-solve-fx-woes\/","url_meta":{"origin":578309,"position":5},"title":"Last Night\u2019s Talk Shows: Madbouly has a plan to solve FX woes","author":"enterpriseam admin","date":"8 December 2022","format":false,"excerpt":"It was a slow night on talk shows yesterday \u2014 sans Lamees Hadidi and Amr Adib","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\/2022\/12\/159.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]}],"_links":{"self":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/578309","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=578309"}],"version-history":[{"count":0,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/578309\/revisions"}],"acf:post":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/issue\/578304"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media\/578310"}],"wp:attachment":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media?parent=578309"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/categories?post=578309"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/tags?post=578309"},{"taxonomy":"brand","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/brand?post=578309"},{"taxonomy":"newspack_spnsrs_tax","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/newspack_spnsrs_tax?post=578309"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}