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  • September 17, 2014
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  1. News - World - EGYPT

    Mursi delays IMF loan amid austerity measures as crisis deepens

    Posted Dec 12th 2012, 12:00am by AGENCIES

    ... Agencies in Cairo Government first wants to explain austerity plans to angry opponents Mursi's allies beat protesters outside palace A vital US$4.8 billion (HK$37.2 billion) International Monetary Fund loan to Egypt will be delayed until next month, ...

  2. News - World - EGYPT

    US nears deal for Egypt debt relief

    Posted Sep 04th 2012, 02:28pm by Reuters in Washington

    ... its stricken economy. IMF chief Christine Lagarde visited Cairo last month to discuss the matter. Egypt’s military-appointed interim government had been negotiating a US$3.2 billion package before it handed power to Mursi on June 30. Mursi’s government then increased the request. Lagarde said the IMF would look at fiscal, monetary and structural issues, promising that the IMF would ...

  3. News - World - EGYPT

    Egypt's political turmoil will deepen economic crisis

    Posted Jul 04th 2013, 01:35pm by Associated Press in Cairo

    ... distort the economy, encouraging some to make quick profits by illegally reselling petrol and diesel. To secure the IMF loan, Egypt is under pressure to phase out $14.5 billion a year in fuel subsidies that are a heavy drag on the budget. The government spends an additional $4 billion to subsidise food, most of it going to bread. The IMF sees fuel subsidies in general as wasteful ...

  4. News - World - EGYPT

    Egypt orders arrest of Brotherhood leaders

    Posted Jul 10th 2013, 09:24pm by Reuters

    ... and a half years of instability since autocrat Hosni Mubarak was swept from power by a popular revolt. But the Gulf money could also reduce the incentive for Egypt to make the subsidy reforms the IMF ...

  5. News - World - EGYPT

    Egypt swears in interim leader Adli Mansour

    Posted Jul 04th 2013, 05:17pm by Reuters

    ... of the past two and half years, Mursi had been helped by gifts and loans from Qatar. The new authorities may hope for help from other quarters. Notably, an IMF loan has long been stalled. The official ...



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