{"id":645061,"date":"2017-07-11T04:32:57","date_gmt":"2017-07-11T04:32:57","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2017\/07\/11\/el-garhys-interview-on-hona-al-asema\/"},"modified":"2017-07-11T04:32:57","modified_gmt":"2017-07-11T04:32:57","slug":"el-garhys-interview-on-hona-al-asema","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2017\/07\/11\/el-garhys-interview-on-hona-al-asema\/","title":{"rendered":"El Garhy\u2019s interview on Hona Al Asema"},"content":{"rendered":"

Finance Minister Amr El Garhy\u2019s interview with Lamees Al Hadidi<\/strong> was the only thing to stand out in another tepid night in the airwaves.<\/p>\n

The second USD 1.25 bn disbursement of the IMF\u2019s USD 12 bn extended facility will be checked into state coffers within the week<\/strong>, Finance Minister Amr El Garhy told Lamees on last night\u2019s Hona Al Asema. The minister also said month-on-month inflation levels are expected to decline gradually, but it will take time for consumers to feel the change.<\/p>\n

Speaking on the murmurs of an upcoming <\/strong>EUR 1-1.5 bn eurobond issuance<\/strong><\/a> supposedly happening in September<\/strong>, El Garhy confirmed that there are discussions on these happening. He said, however, that the ministry has yet to conduct a study to determine whether this will take place.<\/p>\n

The effect of fiscal reform measures, such as new fuel and electricity price hikes, will reflect on July inflation rates<\/strong>, but it will not be as hard on them as November\u2019s EGP floatation, \u201cbecause at that time, it was a combination of fuel price hikes and currency liberalization all at once.\u201d<\/p>\n

On the CBE\u2019s recent decision to hike key interest rates by 200 bps, <\/strong>El Garhy said that the impact on the budget represents the main challenge, as the hike was not factored in. The impact might not be so substantial though, as the Finance Ministry calculates average rates and the hike is likely only temporary. Interest comprises around EGP 307 bn of Egypt\u2019s EGP 1.2 tn budget, from EGP 292 bn previously. Interest on Suez Canal certificates will not rise in step, El Garhy also said (watch<\/a>, runtime 10:29).<\/p>\n

On Kol Youm, Amr Adib was still on the Qatar mosalsal,<\/strong> speaking to Kuwaiti newspaper Al-Seyassah\u2019s Editor in Chief Ahmed Al Jarallah, who said that Qatar failed to play by the rules when it came to the Riyadh agreement (watch<\/a>, runtime 7:26).<\/p>\n

Adib then moved on to talk about the launch of the new Toyota Fortuner Egypt assembly line. <\/strong> Arab Organization for Industry (AOI) head Abdel El Aziz Seif El Din said in a report that the original agreement with Toyota was inked in 2010 and that the AOI will manufacture three models of the Toyota Fortuner under a new agreement. 14 factories will be involved in the process, he said (watch<\/a>, runtime 3:53).<\/p>\n

Also harping on Qatar <\/strong>was political analyst Abdel Moneim Said told Yahduth fi Misr\u2019s Sherif Amer<\/strong> that the contents of the Riyadh Agreement that were just made public prove that Egypt, Saudi Arabia, UAE, and Bahrain banded up against the small Gulf country.<\/p>\n

Over on Masaa\u2019 DMC, <\/strong>Health Ministry spokesperson Khaled Mogahed denied news of shortages in baby formula supplies (watch<\/a>, runtime 4:51).<\/p>\n","protected":false},"excerpt":{"rendered":"

Finance Minister Amr El Garhy\u2019s interview with Lamees Al Hadidi was the only thing to stand out in another tepid night in the airwaves. The second USD 1.25 bn disbursement of the IMF\u2019s USD 12 bn extended facility will be checked into state coffers within the week, Finance Minister Amr El Garhy told Lamees on […]<\/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-645061","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":"55deef8e-05cb-4b8b-9a2f-44881e0150d4","order":"0","is_powered_by":true,"story_type":"1","photo_url":"","photo_position":"above","related_issue":[645055],"teaser":"","voice_url":""},"yoast_head":"\nEl Garhy\u2019s interview on Hona Al Asema - 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\/2017\/07\/11\/el-garhys-interview-on-hona-al-asema\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"El Garhy\u2019s interview on Hona Al Asema\" \/>\n<meta property=\"og:description\" content=\"Finance Minister Amr El Garhy\u2019s interview with Lamees Al Hadidi was the only thing to stand out in another tepid night in the airwaves. 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We have chapter-and-verse in Speed Round, and the Talking Heads added little to our base of knowledge, so here\u2019s the rest\u2026","rel":"","context":"In "Enterprise+: Last Night\u2019s Talk Shows"","block_context":{"text":"Enterprise+: Last Night\u2019s Talk Shows","link":"https:\/\/enterpriseam.com\/egypt\/category\/enterprise-last-nights-talk-shows\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":633093,"url":"https:\/\/enterpriseam.com\/egypt\/2018\/02\/27\/el-garhy-talks-imf-loan-inflation-and-public-sector-wage-raises-on-masaa-dmc\/","url_meta":{"origin":645061,"position":1},"title":"El Garhy talks IMF loan, inflation, and public sector wage raises on Masaa DMC","author":"enterpriseam admin","date":"27 February 2018","format":false,"excerpt":"Finance Minister Amr El Garhy\u2019s interview with Masaa DMC\u2019s Eman El Hossary was the only topic of real interest on the airwaves last night.Egypt should receive the fourth tranche of its USD 12 bn extended fund facility from the IMF by the end of the current fiscal year in June,\u2026","rel":"","context":"In "Enterprise+: Last Night\u2019s Talk Shows"","block_context":{"text":"Enterprise+: Last Night\u2019s Talk Shows","link":"https:\/\/enterpriseam.com\/egypt\/category\/enterprise-last-nights-talk-shows\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":647411,"url":"https:\/\/enterpriseam.com\/egypt\/2017\/05\/10\/talk-of-the-investment-act-dominates-the-airwaves-on-last-nights-talk-shows\/","url_meta":{"origin":645061,"position":2},"title":"Talk of the investment act dominates the airwaves on Last Night\u2019s Talk Shows.","author":"enterpriseam admin","date":"10 May 2017","format":false,"excerpt":"The Investment Act was once again the topic of choice on the airwaves last night. On Hona Al Asema, Lamees El Hadidi had a chat with Finance Minister Amr El Garhy about issues ranging from the Investment Act and the IMF delegation visiting Cairo. 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The phase-out of energy subsidies will continue on its gradual trajectory for the next three-five years, El Garhy added, explaining that the most recent hike was necessary to\u2026","rel":"","context":"In "Enterprise+: Last Night\u2019s Talk Shows"","block_context":{"text":"Enterprise+: Last Night\u2019s Talk Shows","link":"https:\/\/enterpriseam.com\/egypt\/category\/enterprise-last-nights-talk-shows\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":647524,"url":"https:\/\/enterpriseam.com\/egypt\/2017\/05\/14\/el-garhy-on-2nd-tranche-of-imf-facility-el-anany-about-new-archaeological-finds\/","url_meta":{"origin":645061,"position":4},"title":"El Garhy on 2nd tranche of IMF facility, El Anany about new archaeological finds","author":"enterpriseam admin","date":"14 May 2017","format":false,"excerpt":"On Hona Al Asema, Finance Minister Amr El Garhy had a chat with Lamees Al Hadidi, telling her he expects receive the second tranche of the IMF loan in the second half of June. El Garhy also vehemently denied rumors suggesting that the government has plans to hike energy prices,\u2026","rel":"","context":"In "Enterprise+: Last Night\u2019s Talk Shows"","block_context":{"text":"Enterprise+: Last Night\u2019s Talk Shows","link":"https:\/\/enterpriseam.com\/egypt\/category\/enterprise-last-nights-talk-shows\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":649325,"url":"https:\/\/enterpriseam.com\/egypt\/2017\/04\/30\/el-garhy-talks-imf-visit-eurobonds-nasr-on-the-investment-act-delays\/","url_meta":{"origin":645061,"position":5},"title":"El Garhy talks IMF visit, Eurobonds; Nasr on the Investment Act delays","author":"enterpriseam admin","date":"30 April 2017","format":false,"excerpt":"Finance Minister Amr El Garhy and Investment and International Cooperation Minister Sahar Nasr\u2019s interviews were the main highlights in the airwaves which largely focused on the Pope\u2019s visit.The IMF delegation arrived yesterday and will be here for two weeks to review progress on the economic reforms before disbursing the second\u2026","rel":"","context":"In "Enterprise+: Last Night\u2019s Talk Shows"","block_context":{"text":"Enterprise+: Last Night\u2019s Talk Shows","link":"https:\/\/enterpriseam.com\/egypt\/category\/enterprise-last-nights-talk-shows\/"},"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\/645061","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=645061"}],"version-history":[{"count":0,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/645061\/revisions"}],"acf:post":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/issue\/645055"}],"wp:attachment":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media?parent=645061"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/categories?post=645061"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/tags?post=645061"},{"taxonomy":"brand","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/brand?post=645061"},{"taxonomy":"newspack_spnsrs_tax","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/newspack_spnsrs_tax?post=645061"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}