EconSource: Egypt Seeks $10.4 Billion Loan from IMF

Follow the latest in economic news and developments about the Arab transition countries. 

The Finance Minister Hani Qadri Demian started serious attempts to convince the government to file new requests to IMF to resume talks to get US$10.4 billion by 2015 with a 1-2 percent interest rate, especially that the fund praised the steps taken by the government regarding energy and commodities as well as the new tax measures that would increase the state resources. [Egypt Independent]


Jordanian Prime Minister Abdullah Ensour said Saturday that his country’s economy is under-growing at its worst stages due to the influx of refugees from neighboring countries into the Kingdom. Ensour pointed out that his country is currently facing five economic challenges namely, energy, water, agriculture, refugees, and market instability. [MENAFN, JNA]


Given Libya’s immense natural resources, a highly educated (and small) population, as well as the country’s strategic location, the country has the means to achieve rapid growth as long as internal political stability is restored and institutional mechanisms are put in place to ensure that the country’s resources are properly managed. [AfDB]


In the face of the protracted political turmoil in the region that has been hampering policymaking and economic recovery, banking sector in the Arab Mediterranean region has shown extraordinary resilience according to rating agency Standard & Poor’s. Across all these countries domestic sovereign securities are the main instrument used for liquidity management. Banks play a crucial role in bridging the financing needs of the government, and this role has increased as sovereign creditworthiness has deteriorated. [Gulf News




Also of Interest:

Egypt embarks on long-term education reform program | Ahram

Egypt’s unemployment slows in Q2/2014 to 13.3 percent | Ahram

Egypt: 3.7 percent rise in public sector employees in FY 2013/2014 | DNE

Fuel shortage is the real reason behind the power outages: EGYPTERA head | DNE

Egypt received $1 billion from IFC in 2013 | DNE

Morocco 2015 appropriation draft bill seeks to carry out top priority reforms | Marco

Tens of thousands in Yemen Shiite protest | Daily Star

Hadi justifies oil subsidy reform in Yemen as a “patriotic decision” | Yemen Post

WFP to aid 6 million impoverished Yemenis | World Bulletin

IMF’s Regional Technical Assistance Center concludes training on banking supervision | IMF