In an interview with Tunisian interim Prime Minister Mehdi Jomaa, he acknowledged that Tunisia needs reforms and they are determined to do that. He said “one of the main reforms that we have to undergo is about subsidies. It is not for the IMF—it is for us”. Jomaa is scheduled to meet with President Obama today and will likely ask for loan guarantees for economic assistance.  [Slate]

 

Egypt’s finance ministry has approved the repayment of EGP 20 billion ($2.8 billion), the remainder of the treasury’s debt to two Egyptian insurance funds – one for public employees and the other for those working in the private sector. The repayment will be in form of three bonds over a three-year period with an interest rate of 9 percent. The first bond will be issued in January 2015. [Ahram]

 

Power outages could be extended from two and a half hours to 6 hours a day due to fuel shortage if the fuel available to the Ministry of Electricity becomes 10 percent less than the required quantity to run power plants, according to Minister of Electricity and Renewable Energy Mohamed Shaker. [Egypt Independent]

 

Yemen’s monetary policy has helped the exchange rate of the Yemeni riyal remain stable against hard currencies for the third consecutive year, according to Ali al-Shamahi, assistant undersecretary at the Ministry of Finance. The decline in inflation from 2011 to 2013 helped stabilize the exchange rate and encouraged the Central Bank of Yemen to cut interest rates. [Al-Shofra]

 

 

 

US to establish investments at $120 million in Egypt | Egypt Indepedent

Egypt to receive $1 billion grant from Kuwait: Ambassador | Ahram

Egypt business activity shrinks in March | Reuters

Op-ed: Sisi in Egypt savior burdened by hope amid blackouts | Bloomberg

Lagarde -IMF to continue to support Tunisia in implementing its economic program | TAP

Canada doubles Tunisian fellowship graduates in its universities | TAP

After dialogue, a daunting challenge for Yemen | Asharq Al-Awsat