{"id":620275,"date":"2024-05-19T00:00:00","date_gmt":"2024-05-19T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2024\/05\/19\/the-future-of-the-ras-el-hekma-funds-in-question\/"},"modified":"2024-05-19T00:00:00","modified_gmt":"2024-05-19T00:00:00","slug":"the-future-of-the-ras-el-hekma-funds-in-question","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2024\/05\/19\/the-future-of-the-ras-el-hekma-funds-in-question\/","title":{"rendered":"The future of the Ras El Hekma funds in question"},"content":{"rendered":"<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Last night\u2019s talk shows zeroed in on the way forward following the Ras El Hekma <\/strong><strong>agreement<\/strong> and buzzed with rebuttals against Israeli media reports claiming that Egypt is scrapping plans to join South Africa\u2019s case against Israel at the ICJ.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Egypt <\/strong><strong><a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/4461a6ec-f67a-45d9-b396-b6b1f6533a35\/\" style=\"\" rel=\"noopener\">last week secured the full USD 35 bn<\/a><\/strong><strong> from the Ras El Hekma agreement, now <\/strong><strong>what?<\/strong> Egypt should form a national committee to follow up on the recommendations laid out by the IMF to ensure it doesn\u2019t repeat the mistakes it made after it inked the initial loan agreement in <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/c374319e-e849-44f6-bf5a-8179fb41caf5\" style=\"\" rel=\"noopener\">December 2022<\/a>, Economist Medhat Nafei told El Hekaya\u2019s Amr Adib (<a target=\"_blank\" href=\"https:\/\/www.youtube.com\/watch?v=a6rnQKnBRqo\" style=\"\" rel=\"noopener\">watch, runtime: 22:49<\/a>). This committee could be given the power to negotiate with the Fund on key terms, Nafie added. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The government\u2019s trajectory is so far unclear:<\/strong> There are no clear indications that the government is using the proceeds wisely or that there are concrete plans for sustained reforms, Nafei said.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The EGP is currently undervalued<\/strong>, Nafei said, explaining that while it\u2019s possible for the currency to appreciate, a gradual adjustment is preferable to avoid a flight of hot money from the local market. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Shutting down the rumor mill:<\/strong> Reports by Israeli media claiming that Egypt plans to withdraw from its bid to join <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/aaaa6238-b564-4e33-9daf-0260d54bba79\/budget-discussions-continue-at-the-house\" style=\"\" rel=\"noopener\">South Africa\u2019s genocide case<\/a> against Israel at the International Court of Justice are untrue, <a target=\"_blank\" href=\"https:\/\/alqaheranews.net\/news\/80609\/%D9%85%D8%B5%D8%AF%D8%B1-%D8%B1%D9%81%D9%8A%D8%B9-%D8%A7%D9%84%D9%85%D8%B3%D8%AA%D9%88%D9%89-%D9%85%D8%B5%D8%B1-%D9%84%D9%86-%D8%AA%D8%AA%D8%B1%D8%A7%D8%AC%D8%B9-%D8%B9%D9%86-%D8%A7%D9%84%D8%A7%D9%86%D8%B6%D9%85%D8%A7%D9%85-%D9%84%D8%AF%D8%B9%D9%88%D9%89-%D8%A7%D9%84%D8%A5%D8%A8%D8%A7%D8%AF%D8%A9-%D8%A7%D9%84%D8%AC%D9%85%D8%A7%D8%B9%D9%8A%D8%A9-%D8%B6%D8%AF-%D8%A5%D8%B3%D8%B1%D8%A7%D8%A6%D9%8A%D9%84\" style=\"\" rel=\"noopener\">Al Qahera News<\/a> quoted a high-ranking source as saying yesterday. The denial made the rounds on Kelma Akhira (<a target=\"_blank\" href=\"https:\/\/www.youtube.com\/watch?v=QKUSu0D5ED4\" style=\"\" rel=\"noopener\">watch, runtime: 0:58<\/a>), Masa\u2019a DMC (<a target=\"_blank\" href=\"https:\/\/www.youtube.com\/watch?v=RKFllFkUZxg\" style=\"\" rel=\"noopener\">watch, runtime 0:42<\/a>), and Al Hayah Al Youm (<a target=\"_blank\" href=\"https:\/\/www.youtube.com\/watch?v=S2qarnrdOyA\" style=\"\" rel=\"noopener\">watch, runtime: 2:15<\/a>).<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Last night\u2019s talk shows zeroed in on the way forward following the Ras El Hekma agreement and buzzed with rebuttals against Israeli media reports claiming that Egypt is scrapping plans to join South Africa\u2019s case against Israel at the ICJ. Egypt last week secured the full USD 35 bn from the Ras El Hekma agreement, [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":620276,"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":[72,106,7388],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-620275","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-last-nights-talk-shows","tag-enterpriseam","tag-last-nights-talk-shows","tag-ras-el-hekma","wpautop","entry"],"acf":{"mongo_id":"8d39b2ac-4f63-4303-8e1f-b4337a7075f5","order":"13","is_powered_by":false,"story_type":"1","photo_url":"https:\/\/ent.news\/2024\/5\/1417.jpg","photo_position":"above","homepage_title":"","full_issue_title":"The future of the Ras El Hekma funds in question","related_issue":[620253],"teaser":"","voice_url":"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2024\/5\/.dea29192-e51d-4551-95b1-fda52603219a.mp3"},"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v27.1 (Yoast SEO v27.1.1) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>The future of the Ras El Hekma funds in question - 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\/2024\/05\/19\/the-future-of-the-ras-el-hekma-funds-in-question\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"The future of the Ras El Hekma funds in question\" \/>\n<meta property=\"og:description\" content=\"Last night\u2019s talk shows zeroed in on the way forward following the Ras El Hekma agreement and buzzed with rebuttals against Israeli media reports claiming that Egypt is scrapping plans to join South Africa\u2019s case against Israel at the ICJ. Egypt last week secured the full USD 35 bn from the Ras El Hekma agreement, [&hellip;]\" \/>\n<meta property=\"og:url\" content=\"https:\/\/enterpriseam.com\/egypt\/2024\/05\/19\/the-future-of-the-ras-el-hekma-funds-in-question\/\" \/>\n<meta property=\"og:site_name\" content=\"EnterpriseAM Egypt\" \/>\n<meta property=\"article:published_time\" content=\"2024-05-19T00:00:00+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/i0.wp.com\/ent.news\/2024\/5\/1417.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\/2024\/05\/19\/the-future-of-the-ras-el-hekma-funds-in-question\/#article\",\"isPartOf\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2024\/05\/19\/the-future-of-the-ras-el-hekma-funds-in-question\/\"},\"author\":{\"name\":\"enterpriseam admin\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/#\/schema\/person\/ca597032db7e4db868359c123cec256d\"},\"headline\":\"The future of the Ras El Hekma funds in question\",\"datePublished\":\"2024-05-19T00:00:00+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2024\/05\/19\/the-future-of-the-ras-el-hekma-funds-in-question\/\"},\"wordCount\":265,\"publisher\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/#organization\"},\"image\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2024\/05\/19\/the-future-of-the-ras-el-hekma-funds-in-question\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/i0.wp.com\/ent.news\/2024\/5\/1417.jpg?fit=%2C&ssl=1\",\"keywords\":[\"EnterpriseAM\",\"LAST NIGHT\u2019S TALK SHOWS\",\"Ras El Hekma\"],\"articleSection\":[\"LAST NIGHT\u2019S TALK SHOWS\"],\"inLanguage\":\"en-US\"},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2024\/05\/19\/the-future-of-the-ras-el-hekma-funds-in-question\/\",\"url\":\"https:\/\/enterpriseam.com\/egypt\/2024\/05\/19\/the-future-of-the-ras-el-hekma-funds-in-question\/\",\"name\":\"The future of the Ras El Hekma funds in question - 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