52587
Egypt Moves Closer to IMF Loan
Egypt Moves Closer to IMF Loan

Egypt Moves Closer to IMF Loan

Egypt Moves Closer to IMF Loan

Egypt has reached a $2.7 billion currency swap agreement with China, moving closer to mustering the outside financing needed to win final approval of a $12 billion International Monetary Fund loan, Bloomberg reported. The agreement is being processed by the Chinese authorities, an Egyptian central bank official said Sunday, speaking on condition of anonymity. “There’s a chance the funding will be expensive, but regardless of the agreement’s structure, we need every penny we can get,” said Hany Farahat, the Cairo-based senior economist at CI Capital, a subsidiary of Commercial International Bank, the nation’s biggest publicly traded lender.

 

Short URL : https://goo.gl/tE3yNr
  1. https://goo.gl/xNPBU2
  • https://goo.gl/lwZdwb
  • https://goo.gl/jpBmn9
  • https://goo.gl/a71m3m
  • https://goo.gl/GfAM2J

You can also read ...

While China tries to alleviate its demographic crunch, the aging society means a pension shortfall.
Forget that image of sweatshops making all kinds of cheap...
Russia Economic Recovery Underway
Retail sales in Russia picked up in April, while real wages...
In 2017 banks had total mortgage lending of around $352 billion.
High levels of household debt are the greatest risk to Sweden’...
Saudi Gov’t Told Not to Boost Spending
The International Monetary Fund urged the Saudi government not...
Greece at Crucial Point
Discussions are heating up over future debt repayments for...
Brazil CB Keeps Rates on Hold
Brazil’s central bank considered cutting interest rates last...
Peru Economy Strengthens
Economic growth in Peru strengthened in the first quarter...
EU Tells Italy to Cut Debt, Warns of Euro Spillover
Italy’s incoming government should aim to cut its heavy public...

Add new comment

Read our comment policy before posting your viewpoints

Trending

Googleplus