Based on Article 4 in the International Monetary Fund’s (IMF) regulations, Egypt’s government will invite the fund to assess the economic reforms before the country’s economic summit that is scheduled to take place in February 2015, Minister of Finance Hany Kadry Dimian said in a Friday statement. [DNE, Reuters]

 

Egypt’s GDP grew 3.5 percent in the fourth quarter of the 2013/14 fiscal year, signaling that the economy was finally recovering from recent turmoil. Egypt’s GDP grew 2.1 percent in the 2012/13 fiscal year. Official fourth quarter growth figures have yet to be published. [Reuters]

 

Jordan’s year-on-year consumer price inflation fell slightly to 3.16 percent in August from 3.21 percent in July. The government and the IMF are targeting inflation between 3 and 4 percent in 2014 against an average of 5.6 percent last year, reckoning with continued subsidies and an expected lower energy import bill. [Reuters]

 

Libya’s elected parliament on Sunday dismissed the central bank governor of the oil producing country, a parliamentary spokesman said. The bank governor Saddek Omar Elkaber had failed to attend a session at the House of Representatives to discuss alleged financial irregularities at the central bank, the spokesman for the House said. [Reuters, AP] 

 

 

 

 

Bloomberg: Positive indicators for Egyptian economy | SIS

Egypt’s trade deficit plunges in June | Ahram Online

IMF rapprochement may lift Egypt’s market | Reuters

IMF team in Jordan to assess economic reforms | Jordan Times

Despite risks, private equity firms eye Jordan deals | WSJ

Jordan begins to receive $500 million of GCC money | BNA

A mess in the Maghreb: Without a settlement, Libya’s economy could run dry | Gulf Business

Morocco: Trade union launches 24th strike | L’Economiste (French)

Algeria, Tunisia sign financial cooperation protocol | TAP

Energy-sector corruption costs Yemen tens of billions of dollars in six years | Yemen Post

Yemen: Gov’t, donors assess progress in MAF implementation | SABA