US Treasury Secretary Lew indicated that Washington will go ahead with international emergency loans for Egypt if Cairo pushes further to repair the country’s economy. The United States has long viewed Egypt, the Arab world’s most populous country, as a linchpin for regional stability. Bailout talks between Egypt and the International Monetary Fund have been stalled for years since reliable economic recovery plans were lacking in Egypt.
[Wall Street Journal]
Libya requires $185 crude oil to balance its budget
A new Goldman Sachs report suggests that, in order to break even on its budget, Libya needs crude oil to cost $185/barrel. This stands well above the $80/barrel Goldman Sachs expects oil prices to stay at until 2016. [
Value Walk]
IMF cuts Egypt’s growth forecast citing concerns on tourism revenues
The International Monetary Fund cut its growth forecast for Egypt citing the rising security concern’s effect on the country’s vital tourism revenues. The economy is expected to grow 3.5 percent in the fiscal year starting July 2014. This contrasts with the 4.1 percent predicted last April. [
Ahram Online]
Also of Interest:
Islamists close to seizing Libya’s oil, Egypt says | Daily Telegraph
Opinion: The Middle East needs growth and jobs now more than ever | Asharq Al-awsat
Egypt will not renew transit-trade agreement with Turkey | Ahram Online
Syria’s three-and-a-half year conflict roiling the economy | AP
Yemen worst nation for gender equality, women lag in economics, politics | Reuters
Morocco should continue on path of institutional reforms | MAP
Egypt expects to issue $1-1.5 billion international bonds in first quarter of 2015 | Daily News Egypt
Moody’s: Egypt’s improving economy and stabilizing politics reduce downside risks | CPI Financial
Morocco boasts very important economic assets | MAP
Tunisian sun to provide Europe’s electricity | World Bulletin
Will Tunisia’s polls free the Mediterranean tiger? | Financial Times
Egypt vows economic reforms, but what about politics? | Reuters
