The International Monetary Fund (IMF) announced on Wednesday that it has reached a staff-level agreement with Egypt for the fourth review under its Extended Fund Facility.
This agreement could pave the way for a $1.2 billion disbursement as part of the $8 billion, 46-month programme initiated in March.
Egypt has been grappling with soaring inflation and a severe foreign currency shortage, challenges further exacerbated by a sharp decline in Suez Canal revenues over the past year due to regional tensions.
As part of the agreement, Egypt’s government has committed to raising its tax-to-revenue ratio by 2% of its GDP over the next two years. The focus will be on removing tax exemptions rather than introducing new taxes.
The IMF highlighted that this fiscal adjustment would enable Egypt to allocate more resources for social spending, providing much-needed support to vulnerable groups amidst the ongoing economic challenges.
The insolvency-related fraud trial of fallen Austrian property tycoon Rene Benko entered its second day on Wednesday, with a ruling expected in the af...
President Ilham Aliyev has described urban planning as a "priority direction" in Azerbaijan’s national development strategy, in an address to an int...
Hungary would suffer if it was cut off from Russian energy, Budapest's foreign minister said during a visit to Moscow on Wednesday, reiterating that t...
Brussels is facing one of its toughest political tests yet. The Patriots for Europe, now the third-largest bloc in the European Parliament, have filed...
Toxic gas and a locked door that barred access to a roof were responsible for most of the deaths in a devastating fire in a Bangladesh garment factory...
Brazilian authorities arrested a woman for allegedly poisoning a Christmas cake with arsenic, killing three and hospitalizing three in Rio Grande do Sul. Another New Year's incident in Piauí left three dead from rat poison-laced food. Both cases are under murder investigations.
In a solemn Christmas address, Pope Francis called for courage to end wars, heal divisions, and bring hope to a world plagued by conflict and crisis, urging nations to embrace reconciliation during the Holy Year.
Christmas celebrations across Europe brought communities together through religious events, historic milestones, and festive traditions. From Pope Francis inaugurating the 2025 Jubilee in the Vatican to the reopening of Paris’ Notre Dame Cathedral, the holiday spirit was alive with hope and renewal.
British Prime Minister Keir Starmer expressed hope for Middle East peace and a brighter future, calling Christmas a time to focus on family, friendship, and unity.
Video from the USGS (United States Geological Survey) showed on Friday (19 September) the Kilauea volcano in Hawaii erupting and spewing lava.
At least 69 people have died and almost 150 injured following a powerful 6.9-magnitude earthquake off the coast of Cebu City in the central Visayas region of the Philippines, officials said, making it one of the country’s deadliest disasters this year.
Authorities in California have identified the dismembered body discovered in a Tesla registered to singer D4vd as 15-year-old Celeste Rivas Hernandez, who had been missing from Lake Elsinore since April 2024.
A tsunami threat was issued in Chile after a magnitude 7.8 earthquake struck the Drake Passage on Friday. The epicenter was located 135 miles south of Puerto Williams on the north coast of Navarino Island.
The war in Ukraine has reached a strategic impasse, and it seems that the conflict will not be solved by military means. This creates a path toward one of two alternatives: either a “frozen” phase that can last indefinitely or a quest for a durable political regulation.
The insolvency-related fraud trial of fallen Austrian property tycoon Rene Benko entered its second day on Wednesday, with a ruling expected in the afternoon in the first case connected to the collapse of his Signa property empire.
Hungary would suffer if it was cut off from Russian energy, Budapest's foreign minister said during a visit to Moscow on Wednesday, reiterating that the country would not accept outside pressure when it came to decisions on its energy supplies.
Brussels is facing one of its toughest political tests yet. The Patriots for Europe, now the third-largest bloc in the European Parliament, have filed a formal motion of no-confidence against Ursula von der Leyen’s European Commission.
Toxic gas and a locked door that barred access to a roof were responsible for most of the deaths in a devastating fire in a Bangladesh garment factory and an adjoining chemical warehouse, a fire official said on Wednesday.
A U.S. strike on a boat off the coast of Venezuela on Tuesday killed six suspected drug traffickers, President Donald Trump said, the latest such operation in recent weeks as the U.S. builds up military forces in the region.
You can download the AnewZ application from Play Store and the App Store.
What is your opinion on this topic?
Leave the first comment