imf

IMF Approves Egypt’s $12 Billion Loan Agreement, $2.75 Billion Disbursed

By Ahmed Aboulenein and David Lawder CAIRO/WASHINGTON, Nov 12- Egypt won International Monetary Fund approval on Friday for a three-year, $12 billion bailout program aimed at reviving a struggling economy, bringing down public debt and controlling inflation while seeking to protect the poor. The IMF said its executive board’s approval immediately disbursed an initial loan

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GCC: Summer Is Coming

The Gulf’s forthcoming reforms bode well for the future BY Tarek Fadlallah The contrarian case for making tactically positive trades during Gulf Cooperation Council (GCC) market weakness earlier this year has been sound. It remains on track to deliver further modest gains once Ramadan is over and the traditionally slow summer season has passed. The supportive elements

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IMF Backs Saudi Economic Plan for “Appropriately Bold” Transformation

By Andrew Torchia DUBAI, May 19  – The International Monetary Fund backed Saudi Arabia’s sweeping economic reform plan on Thursday and said the kingdom was cutting spending at the right speed to cope with a huge state budget deficit caused by low oil prices. Late last month, Deputy Crown Prince Mohammed bin Salman announced steps

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Pakistan Finance Ministry Optimistic of IMF Program Review

By Razia Desai DUBAI May 12: The International Monetary Fund (IMF) staff mission held nine-day talks with the Pakistan Finance Minister Ishaq Dar and State Bank of Pakistan Governor Ashraf Wathra in Dubai from May 2 to review Pakistan’s Economic Fund Facility program. Addressing the press from the Park Hyatt Dubai, Ishaq Dar’s initial demeanor

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Overcoming Splits, Tunisia’s Parliament Approves New Banking Law

TUNIS, May 12 – The Tunisian parliament on Thursday approved a new banking bill to modernize financial services, a second reform called for by the International Monetary Fund after a disputed central bank law passed last month. Tunisia is under pressure from international lenders to speed up economic reforms to create jobs and growth, especially

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IMF “Encouraged” by Pakistani Airline Reform Step, Awaits More Plans

By Mehreen Zahra-Malik ISLAMABAD, April 13 – The International Monetary Fund is encouraged that Pakistan will convert its cash-strapped national airline into a limited company but said on Wednesday it will see if the reforms go far enough in restructuring the company. Parliament adopted a law on Monday to convert Pakistan International Airlines (PIA) into

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Iran Says European Banks Reluctant to Resume Transactions

By Bozorgmehr Sharafedin DUBAI, March 6 – Iran complained on Saturday that European banks and companies were too wary about renewing business ties following the lifting of economic sanctions and said it had asked the International Monetary Fund (IMF) to ease their concerns. In January, world powers led by the United States and the European

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IMF to Start Talks with Tunisia Over New Loan Program

TUNIS, Feb 15 – A delegation from the International Monetary Fund will visit Tunisia on Thursday to begin talks on a new credit program likely to be worth at least $1.7 billion, a Tunisian official said. Tunisia is seeking to revive an economy that has struggled since the 2011 uprising that sparked the Arab Spring

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Pakistan Shelves Plan to Privatize Power Firms, But Approves New Loan

By Mehreen Zahra-Malik ISLAMABAD, Feb 4 – Pakistan has shelved plans to privatize its power supply companies and will miss deadlines to sell other loss-making state firms, reneging on promises it made to the IMF in return for a $6.7 billion bailout three years ago. Two government officials with direct knowledge of the situation said

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Davos: The Trials of Christine Lagarde

Has a French court ruined the chances of a second term for the first woman to lead the IMF? By Mirren Gidda Photographs by Lexey Swall Some say Lagarde is concerned primarily with preserving the dominant capitalist system and bolstering the rich and powerful. There is probably no population in Europe less fond of Lagarde than the Greeks. Christine Lagarde, arguably the most

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