Qatar extended to Egypt a $2.5bn financial lifeline on Tuesday, in an effort to shore up the weakening Egyptian currency and avert an economic crisis.
Egypt faces Risks over the $4.8 Billion IMF Loan
The International Monetary Fund Tuesday warned Egypt that any major changes to the country’s economic policy or outlook would prevent approval of a $4.8 billion loan deal reached earlier this month. “The staff-level agreement on financial support
Egypt agrees deal for $4.8 bln IMF loan
Egypt reached a preliminary agreement on Tuesday with the International Monetary Fund for a $4.8 billion loan, a step seen as vital to shoring up the nation’s finances. Investors who abandoned Egypt during the political turmoil that followed the overthrow of Hosni Mubarak
Syrian pound, stock market sink, says IMF
The value of the Syrian pound is down 45% on the parallel market and the stock market has slumped 40% since an uprising broke out in March 2011, the International Monetary Fund said on Wednesday.
IMF delegation in Cairo to negotiate a $3.2 billion loan
A delegation from the International Monetary Fund arrived in Cairo on Monday led by Massoud Ahmed, director of the IMF’s Middle East and Central Asia Department, to discuss granting Egypt a loan of US$3.2 billion.
Lebanon Banks: Salameh raises goal for capital adequacy
Lebanon plans to raise the minimum level of top quality capital reserves held by banks to 12 percent within seven years, the Central Bank governor said Friday. Riad Salameh said he originally envisaged asking banks to raise reserves of Tier 1 capital to 10 percent – already significantly higher than the 7 percent required by […]
Strauss-Kahn’s allies cheer his release from house arrest
Political life in France was once again upended as former International Monetary Fund chief Dominique Strauss-Kahn was released from house arrest Friday in New York, a development that fascinated the French public but left both supporters and rivals unsure of the impact on the presidential race.
French FM Lagarde announces bid to lead IMF
French Finance Minister Christine Lagarde has announced she will seek the top job at the International Monetary Fund. Many European countries, including Germany and Britain, have offered their backing to a candidacy by Lagarde to run the IMF, which provides billions in loans to shore up the world economy.
IMF Chief Resigns While Fighting Sex Assault Charges
International Monetary Fund chief Dominique Strauss-Kahn has resigned his post after being arrested on sexual assault charges. The former IMF chief is being held in a New York City jail, and says he wants to devote all his strength, time, and energy to proving his innocence.
No bail for IMF chief, has to remain in jail
head of the International Monetary Fund must remain jailed at least until his next court hearing for attempted rape and other charges, a judge said Monday.