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.
A sandstorm swept across the Gaza Strip on Saturday, worsening conditions for displaced civilians already livin...
A media briefing in Baku has outlined preparations for the 13th session of the World Urban Forum (WUF13), scheduled to take place in Baku from 17 t...
Kremlin spokesman Dmitry Peskov said on Saturday (14 March) that many countries are interested in purchasing Ru...
An explosion lightly damaged a Jewish school in Amsterdam early on Saturday (14 March) in what the city’s...
Ukrainian drones struck an oil refinery and a key port in Russia’s southern Krasnodar region overnight (13-14 March), local authorities ...
President Ilham Aliyev has sent a congratulatory letter to Azerbaijan’s Orthodox Christian community on the occasion of Christmas.
The United States carried out a strike against Islamic State militants in northwest Nigeria at the request of Nigeria's government, President Donald Trump and the U.S. military said on Thursday.
As Christmas is celebrated worldwide, the faithful in Baku gathered at St. Mary’s Catholic Church to partake in prayers, songs, and community celebrations.
Across continents, Christmas is being observed with a mix of worship, tradition and local flavour, reflecting how the season resonates differently around the world.
Israel and Iran continued to exchange strikes on Friday (13 March), as the U.S. and French militaries reported deaths in Iraq, and the U.N. launched a $325 million appeal to help Lebanon, where a seventh of the population have left their homes since fighting began.
Israeli Prime Minister Benjamin Netanyahu issued veiled threats to Iran’s new Supreme Leader, Mojtaba Khamenei, and Hezbollah on Thursday (12 March), during his first press conference since the conflict with Iran began.
At least 64 people have been killed in southern Ethiopia following recent landslides and floods, the regional government’s communications office said on Thursday (12 March), citing local police
Ayman Ghazali, a 41-year-old U.S. citizen born in Lebanon, crashed his truck into the hallway of a Detroit-area synagogue on Thursday (12 March) while children attended preschool. Security personnel shot him dead during the confrontation, and authorities said no one else was seriously injured.
Iran’s President Masoud Pezeshkian has set recognition of Tehran’s inalienable rights, payment of war compensation, and international guarantees against any future invasion as conditions for ending the U.S.–Israel war with the Islamic Republic.
Kremlin spokesman Dmitry Peskov said on Saturday (14 March) that many countries are interested in purchasing Russian oil after the United States temporarily eased sanctions on certain exports.
An explosion lightly damaged a Jewish school in Amsterdam early on Saturday (14 March) in what the city’s mayor described as “a deliberate attack against the Jewish community.”
Ukrainian drones struck an oil refinery and a key port in Russia’s southern Krasnodar region overnight (13-14 March), local authorities said, causing injuries and damage. In separate action, Russian air attacks on Ukrainian territory killed and wounded civilians near Kyiv, officials reported.
Start your day informed with AnewZ Morning Brief. Here are the top news stories for the 13rd of March, covering the latest developments you need to know.
North Korea fired what appeared to be a ballistic missile on Saturday (14 March), Japanese and South Korean officials said. The development comes amid the joint annual U.S.-South Korea "Freedom Shield" military drills and South Korean Prime Minister Kim Min-seok's visit to Washington.
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