{"id":634797,"date":"2018-01-24T04:19:11","date_gmt":"2018-01-24T04:19:11","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2018\/01\/24\/anans-detention-and-the-imfs-review-of-egypts-reforms-dominate-the-airwaves\/"},"modified":"2018-01-24T04:19:11","modified_gmt":"2018-01-24T04:19:11","slug":"anans-detention-and-the-imfs-review-of-egypts-reforms-dominate-the-airwaves","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2018\/01\/24\/anans-detention-and-the-imfs-review-of-egypts-reforms-dominate-the-airwaves\/","title":{"rendered":"Anan\u2019s detention and the IMF\u2019s review of Egypt\u2019s reforms dominate the airwaves"},"content":{"rendered":"

The airwaves were abuzz last night with chatter about former military chief Sami Anan\u2019s detention<\/strong> and the IMF\u2019s report <\/strong>on its second review of Egypt\u2019s economic reform program.<\/p>\n

Egypt has begun reaping the fruit of its reforms<\/strong>, as reflected by declining inflation and the narrowing budget deficit, IMF Mission Chief for Egypt Subir Lall told Yahduth fi Masr\u2019s Sherif Amer<\/strong>. He said that soaring inflation was an unavoidable side-effect of reforms, but that the CBE\u2019s target of pushing the figure down to 13% by year\u2019s end is \u201cvery much within reach.\u201d Lall noted that the report (the details of which we delve into in Speed Round, below) looks into the broad strokes of Egypt\u2019s reform program and assesses short- and long-term issues. From here on out, the private sector must be encouraged to create jobs and spur economic growth<\/strong>, Lall said.<\/p>\n

Vice Minister of Finance Ahmed Kouchouk told Hona Al Asema\u2019s Lamees Al Hadidi that the government is sticking to its timeline for phasing out fuel subsidies<\/strong> by the end of FY2018-19. Diesel and butane are exempted from this plan, since they are most widely used by lower-income citizens. Kouchouk also said Egypt is still studying implementing a pricing mechanism that would see global oil prices automatically reflect on domestic prices, but is not obligated to implement the scheme by the IMF (watch, runtime: 4:08<\/a>).<\/p>\n

The IMF report\u2019s recommendation to keep interest rates stable is based on inflation rates prior to their month-on-month deceleration<\/strong>, and in any case these recommendations are in no way binding, Kouchouk said. He stressed that the government has its own program in place and has the liberty to decide whether or not to follow the IMF\u2019s advice (watch, runtime: 3:42<\/a>).<\/p>\n

Finance Minister Amr El Garhy presented his ministry\u2019s three-year strategy at yesterday\u2019s weekly ministerial meeting<\/strong>, Cabinet spokesperson Ashraf Sultan told Al Hayah Al Youm\u2019s Tamer Amin. The plan includes reducing the public debt-to-GDP ratio, achieving a primary budget surplus of 2%, increasing GDP growth, lowering inflation, and bumping up state revenues with more taxes while rationalizing expenditures (watch, runtime: 6:03<\/a>).<\/p>\n

Amin also spoke with former military prosecutor Sayed Hashem about the detention of Sami Anan yesterday<\/strong>, which Hashem shrugged off as something the former military chief of staff should have seen coming. He said that Anan is well-aware of military\u2019s law, which bar its active and reserve members from engaging in political activity (watch, runtime: 9:31<\/a>).<\/p>\n

Kol Youm\u2019s Amr Adib seemed to be on the verge of a meltdown as he came to grips with Anan\u2019s exclusion from the presidential race<\/strong>, which he said has effectively guaranteed the elections will take place sans competition. He pored over foreign coverage of the arrest, which is being framed as a power struggle (watch, runtime: 54:26<\/a>).<\/p>\n

Back on Hona Al Asema, Khaled Ali campaign spokesperson Amr Abdel Rahman<\/strong> said that the way the state dealt with the Anan debacle is of greater concern than whether his bid was actually a violation of military law. Abdel Rahman said that he is keeping an eye on how these developments will affect turnout at the elections. He also denied that Ali is withdrawing from the race, saying that \u201call options are still on the table\u201d (watch, runtime: 2:35<\/a>).<\/p>\n","protected":false},"excerpt":{"rendered":"

The airwaves were abuzz last night with chatter about former military chief Sami Anan\u2019s detention and the IMF\u2019s report on its second review of Egypt\u2019s economic reform program. Egypt has begun reaping the fruit of its reforms, as reflected by declining inflation and the narrowing budget deficit, IMF Mission Chief for Egypt Subir Lall told […]<\/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":[9281],"tags":[2379,72],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-634797","post","type-post","status-publish","format-standard","hentry","category-enterprise-last-nights-talk-shows","tag-enterprise-last-nights-talk-shows","tag-enterpriseam","wpautop","entry"],"acf":{"mongo_id":"62c1b392-8192-4bfc-9da0-2f350313a805","order":"0","is_powered_by":true,"story_type":"1","photo_url":"","photo_position":"above","related_issue":[634789],"teaser":"","voice_url":""},"yoast_head":"\nAnan\u2019s detention and the IMF\u2019s review of Egypt\u2019s reforms dominate the airwaves - 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\/2018\/01\/24\/anans-detention-and-the-imfs-review-of-egypts-reforms-dominate-the-airwaves\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Anan\u2019s detention and the IMF\u2019s review of Egypt\u2019s reforms dominate the airwaves\" \/>\n<meta property=\"og:description\" content=\"The airwaves were abuzz last night with chatter about former military chief Sami Anan\u2019s detention and the IMF\u2019s report on its second review of Egypt\u2019s economic reform program. 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The bank attributed its outlook \u2014 one of the more optimistic ones on the deficit we\u2019ve heard \u2014 to the economic reform program, particularly\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":602680,"url":"https:\/\/enterpriseam.com\/egypt\/2019\/04\/03\/imf-sings-the-praises-of-egypt-stresses-private-sector-development\/","url_meta":{"origin":634797,"position":3},"title":"IMF sings the praises of Egypt, stresses private sector development","author":"enterpriseam admin","date":"3 April 2019","format":false,"excerpt":"An IMF delegation will arrive in May to give us our final report card: An International Monetary Fund (IMF) delegation will be in town this May to conduct its final review of the Sisi administration\u2019s reform program ahead of the disbursement of the sixth and final tranche of a USD\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\/10\/153.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":631275,"url":"https:\/\/enterpriseam.com\/egypt\/2018\/03\/14\/private-sector-must-create-at-least-700k-jobs-a-year-in-egypt-imfs-lall\/","url_meta":{"origin":634797,"position":4},"title":"Private sector must create at least 700k jobs a year in Egypt -IMF\u2019s Lall","author":"enterpriseam admin","date":"14 March 2018","format":false,"excerpt":"Egypt\u2019s private sector needs to create at least 700k jobs every year if the country is to meet the needs of its \u201crapidly growing and young population and improve living standards,\u201d the IMF\u2019s Egypt Mission Chief, Subir Lall, said yesterday. \u201cJob creation at this scale has to be led by\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":627451,"url":"https:\/\/enterpriseam.com\/egypt\/2018\/06\/03\/shored-up-fx-reserves-have-helped-the-economy-absorb-external-shocks-says-lall\/","url_meta":{"origin":634797,"position":5},"title":"Shored-up FX reserves have helped the economy absorb external shocks, says Lall","author":"enterpriseam admin","date":"3 June 2018","format":false,"excerpt":"Egypt\u2019s shored-up FX reserves have helped the economy absorb the effects of external shocks, IMF Mission Chief for Egypt Subir Lall said in remarks to MENA carried by Al Ahram. Tough global financial conditions have had a relatively muted effect on Egypt in comparison to other countries, particularly emerging markets,\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\/634797","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=634797"}],"version-history":[{"count":0,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/634797\/revisions"}],"acf:post":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/issue\/634789"}],"wp:attachment":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media?parent=634797"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/categories?post=634797"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/tags?post=634797"},{"taxonomy":"brand","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/brand?post=634797"},{"taxonomy":"newspack_spnsrs_tax","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/newspack_spnsrs_tax?post=634797"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}