Follow the latest in economic news and developments about the Arab transition countries.
The IMF announced yesterday the completion of a mission to assess Tunisia’s economic performance. The review is the fourth of its kind and will be submitted to the Fund’s executive board in late August; if approved, it will make $220 million available to Tunisia. Since the agreement was signed, the IMF has made $888.4 million available to the country. [IMF]
The Ministry of Investment sent a proposal for the government to pump new economic stimulus package. Al-Mal reported on June 26 that the government is studying pumping new economic stimulus package to promote the Egyptian economy similar to the first two that the ministry declared during 2013/2014 with EGP 30 billion and EGP 34 billion. [Cairo Post]
Libya’s oil production has returned to its highest level in five months following the faster-than-expected ramp-up of its largest oil field, according to official data. In a statement posted on its Facebook page late Tuesday, Libya’s state-run National Oil Co. said the country is now producing about 600,000 barrels a day. That is the highest level since February though still less than half of its normal production of about 1.6 million barrels a day. [WSJ]
Also of Interest:
Egypt sovereign Sukuk law still mired in uncertainty | Zawya DJ
UAE likely to support Egypt for the long haul | Al-Monitor
Egypt: Public capital increases up on last year by 800 percent | Mada Masr
Mexico negotiating FTAs with Jordan, Turkey | Tax News
Morocco: Access to electricity in rural areas reached 98 percent | MWN
Central Bank of Tunisia says downward pressure on the dinar | L’Economiste Magharebin
Fitch affirms Arab Tunisian Bank at ‘BB’; negative outlook | Reuters
Netherlands grants Yemen $4.9 million in aid | Yemen Times