US Secretary of State John Kerry announced he had agreed with Prime Minister Mehdi Jomaa, during their meeting Tuesday in Tunis, to hold the inaugural meeting of the US-Tunisia Strategic Dialogue, during a planned visit of Jomaa, in Washington, at the invitation of US President Barack Obama. The Strategic Dialogue aims to strengthen bilateral relations and will focus on cooperation in security matters and on promoting closer economic ties between the two countries. Secretary Kerry mentioned that “since the Revolution began, the US has committed more than $400 million (TND 640 million) in foreign assistance for the transition. [TAP]

 

Egypt is expecting an aid package worth a total of $9.1 billion from Gulf countries within a few weeks, including $2.9 billion from the UAE, as part of a development assistance agreement. Egypt’s Al-Ahram reported the news on Tuesday quoting an “informed government source”, stating that UAE Minister of State Sultan Ahmad Algaber is due in Egypt to follow up on the $1 billion of the pledged out of the $4.9 billion fuel and gas deal that has already been paid. The source also claimed that Hussein Alnuwais, chairman of UAE’s Khalifah Monetary Fund, is preparing to send a further $200 million fund for small and medium Egyptian enterprises. Additionally, the Saudi Development Fund, the Islamic Bank for Development and the Kuwaiti Fund are expected to discuss loans worth $2 billion for Egypt. [Al-Ahram]

 

Jordan foreign debt has climbed to 79 percent of the country’s GDP, reaching $25 billion, according to figures published by Finance ministry. Last year, the kingdom borrowed nearly $3 billion, or 15.2 percent of overall debt, in a bid to trim state budget deficit, said the ministry. The report also indicated that state revenues jumped last year by nearly $1 billion, to reach $9 billion, an increase of 13 percent compared to 2012. [ANSAmed]  

 

Despite positive political developments in 2013, Yemen continues to be a large scale humanitarian crisis, with more than half the population or 14.7 million people in need of some form of humanitarian assistance. The needs remain largely unchanged since 2013. The 2014-2015 humanitarian strategy builds on the strategy outlined in the 2013 Yemen Humanitarian Response Plan, with an emphasis on providing life-saving interventions for the most vulnerable Yemenis, as well as refugees and migrants. The plan requires $592 million to implement.  [OCHA, SABA]  

 

 

 

 

Central Bank of Egypt earmarks $1.44 billion for low-cost housing | DNE

Egypt government allots land in Sinai for locals | Ahram

World Bank: $300 million for SMEs in Egypt The | MENA

Egypt set to receive first LNG cargo before summer | The Daily Star

Upbeat investors push Egypt’s stocks to 6-year high | Ahram

Egyptian militants warn tourists to leave or face attack | Reuters

Morocco calls for strengthening banking sector to achieve Maghreb economic integration | MAP

Strikes and political divisions plague Tunisia phosphate industry | FT, AM

FDI in Tunisia drops in 2013 | LM [French]

Tunisia’s National Social Security Fund is running out of money | LM [French]

IMF: Maghreb integration add 2-3 percent growth per country per year| Agence Ecofin [French]

Arab Spring survivor keeps Algerians guessing as election nears | Bloomberg