{"id":659336,"date":"2025-01-26T00:00:00","date_gmt":"2025-01-26T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2025\/01\/26\/the-finance-ministry-called-in-to-the-talkshows-to-clear-up-confusion-around-usd-2-bn-facility-reports\/"},"modified":"2025-01-26T00:00:00","modified_gmt":"2025-01-26T00:00:00","slug":"the-finance-ministry-called-in-to-the-talkshows-to-clear-up-confusion-around-usd-2-bn-facility-reports","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2025\/01\/26\/the-finance-ministry-called-in-to-the-talkshows-to-clear-up-confusion-around-usd-2-bn-facility-reports\/","title":{"rendered":"The Finance Ministry called in to the talkshows to clear up confusion around USD 2 bn facility reports"},"content":{"rendered":"<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"> <strong>The Finance Ministry was in damage control on the airwaves last night<\/strong>, rebutting suggestions that it inked an additional and never-before-announced credit facility amounting to USD 2 bn. Representing the ministry was Assistant Finance Minister for Economic Affairs Sherine El Sharkawy, who called in to tell Lamees El Hadidi on Kelma Akhira to argue her case (<a target=\"_blank\" href=\"https:\/\/www.youtube.com\/watch?v=TPiNkC8Q4x8\" style=\"\" rel=\"noopener\">watch, runtime: 4:41<\/a>).<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>(Tap or click the headline above to read this story with all of the links <\/strong>to our background as well as external sources.)<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>El Sharkawy was responding to an EmiratesNDB <\/strong><strong><a target=\"_blank\" href=\"https:\/\/www.emiratesnbd.com\/en\/media-center\/the-arab-republic-of-egypt-secures-usd-2-billion-syndicated-facility-to-bolster-economic-growth\" style=\"\" rel=\"noopener\">statement<\/a><\/strong><strong> out Friday<\/strong>, which said that the Finance Ministry was securing a USD 2 bn syndicated facility. The 2.5x oversubscribed facility will go towards bolstering the \u201ccountry\u2019s budgetary requirements and support the country in safeguarding its strong economic path in the prevailing volatile global markets,\u201d according to the statement.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>But this isn\u2019t the first time we\u2019d heard about the facility and it's been in the works for a<\/strong><strong> while <\/strong><strong>now<\/strong>, which led to the Finance Ministry, in addition to talkshow appearances, issuing a <a target=\"_blank\" href=\"https:\/\/www.facebook.com\/EgyptianCabinet\/posts\/pfbid02fMzzP2S1KEaqNpB14qJ4KnCEsHbeTdPaQMzGt47ig91vpbi3tHABLnnLfz8vPZjyl\" style=\"\" rel=\"noopener\">statement<\/a> denying that it had obtained any new credit facilities \u2014 emphasis here on the new. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The House <\/strong><strong>approved the loan<\/strong><strong> last December<\/strong>, which many avid readers of EnterpriseAM would have already known <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/3422acfc-009b-4e39-99fa-3a58603a1bae\/house-approves-usd-2-bn-loan-for-egypt%E2%80%99s-finmin\" style=\"\" rel=\"noopener\">from our coverage<\/a> at the time. \u201cWhat the bank mentioned in its statement pertains to the same USD 2 bn loan that Egypt obtained whose agreement was approved by the House of Representatives in mid-December,\u201d El Sharkawy explained. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>El Sharkawy attributed the confusion to \"the delay in the bank's announcement of the<\/strong><strong> loan<\/strong>, which came after completing the necessary procedures and translation, before issuing the statement in Arabic on its part,\" clarifying that the ministry had already disclosed the loan back in December. She rejected the notion that the country had received any new loans. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>AND- The nation\u2019s talking heads also gave significant airtime to the freeing of 200<\/strong><strong> Palestinian and four Israeli hostages<\/strong>, marking the second such swap under the ceasefire\u2019s first six-week phase. (El Hekaya <a target=\"_blank\" href=\"https:\/\/www.youtube.com\/watch?v=yjArzXwOXkU\" style=\"\" rel=\"noopener\">watch, runtime: 26:51<\/a> | Al Hayat Al Youm <a target=\"_blank\" href=\"https:\/\/www.youtube.com\/watch?v=Iq2qL0ZQD-E\" style=\"\" rel=\"noopener\">watch, runtime: 8:31<\/a> | Akher Kalema watch, runtime: <a target=\"_blank\" href=\"https:\/\/www.youtube.com\/watch?v=XqhZ2raq-rE\" style=\"\" rel=\"noopener\">6:35<\/a>, <a target=\"_blank\" href=\"https:\/\/www.youtube.com\/watch?v=K_BKnVNaQMY\" style=\"\" rel=\"noopener\">1:43<\/a>).<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The Finance Ministry was in damage control on the airwaves last night, rebutting suggestions that it inked an additional and never-before-announced credit facility amounting to USD 2 bn. Representing the ministry was Assistant Finance Minister for Economic Affairs Sherine El Sharkawy, who called in to tell Lamees El Hadidi on Kelma Akhira to argue her [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":659337,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","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":[12109,72,276,272,106,6984,492],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-659336","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-last-nights-talk-shows","tag-emiratesndb","tag-enterpriseam","tag-finance-ministry","tag-imf","tag-last-nights-talk-shows","tag-middle-east-politics","tag-standard-chartered","wpautop","entry"],"acf":{"mongo_id":"a5d99be1-e160-46cc-a227-3086c4c0b90c","order":"10","is_powered_by":false,"story_type":"1","photo_url":"https:\/\/ent.news\/2025\/1\/1765.jpg","photo_position":"above","homepage_title":"","full_issue_title":"The Finance Ministry called in to the talkshows to clear up confusion around USD 2 bn facility reports","related_issue":[659320],"teaser":"","voice_url":"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2025\/1\/.4291f19d-6907-47a2-9be3-77d8a4d127e3.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 Finance Ministry called in to the talkshows to clear up confusion around USD 2 bn facility reports - 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\/2025\/01\/26\/the-finance-ministry-called-in-to-the-talkshows-to-clear-up-confusion-around-usd-2-bn-facility-reports\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"The Finance Ministry called in to the talkshows to clear up confusion around USD 2 bn facility reports\" \/>\n<meta property=\"og:description\" content=\"The Finance Ministry was in damage control on the airwaves last night, rebutting suggestions that it inked an additional and never-before-announced credit facility amounting to USD 2 bn. 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