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.
At least 12 people including an alleged shooter were killed in a shooting incident on Australia's Bondi Beach on Sunday according to Police....
Police in Berlin dispersed a protest on Saturday evening after around one thousand demonstrators gathered against alleged police violence....
Street clashes broke out for a second night in the Tunisian city of Kairouan after a man died following a police pursuit, raising fears of wider unres...
Turkish Foreign Minister Hakan Fidan says international cooperation is essential for Syria’s recovery as investment slowly begins to return despite ...
Thailand’s caretaker Prime Minister Anutin Charnvirakul said on Saturday (13 December) that Thai forces would continue military action along the Cam...
Australia is poised to launch the world’s strictest crackdown on youth internet usage, turning the country into a global petri dish for digital regulation just as schools break up for the long summer holidays.
First Lady of the United States Melania Trump has unveiled the 2025 White House Christmas decorations under the theme “Home Is Where The Heart Is”. Around 1,500 volunteers helped Mrs. Trump deck the halls of the Presidential Residence with kilometres of ribbon and thousands of ornaments.
After two years of more quiet celebrations due to the war in Gaza, the historic city of Bethlehem is once again preparing for a joyful and festive Christmas in the birthplace of Jesus.
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.
The Oligarch’s Design is an investigative documentary exploring how financial power, political influence and carefully constructed narratives can shape conflict and public perception.
Turkish President Recep Tayyip Erdoğan reiterated his offer to host Ukraine-Russia peace talks in Ankara, at his meeting with Russian President Vladimir Putin. The talks took place on the sidelines of the international Forum for Peace and Trust in Ashgabat, Turkmenistan, on Friday (12 December).
Iranian authorities have seized a foreign tanker carrying more than 6 million litres of smuggled fuel in the Sea of Oman, detaining all 18 crew members on board.
Russian forces struck Ukraine’s southern port city of Odesa for a second consecutive day on Saturday (13 December), deploying Kinzhal hypersonic missiles for the first time in the conflict, Ukrainian authorities said.
At least 12 people including an alleged shooter were killed in a shooting incident on Australia's Bondi Beach on Sunday according to Police.
At least 12 people including an alleged shooter were killed in a shooting incident on Australia's Bondi Beach on Sunday according to Police.
Police in Berlin dispersed a protest on Saturday evening after around one thousand demonstrators gathered against alleged police violence.
Street clashes broke out for a second night in the Tunisian city of Kairouan after a man died following a police pursuit, raising fears of wider unrest as the country nears the anniversary of the 2011 revolution.
Turkish Foreign Minister Hakan Fidan says international cooperation is essential for Syria’s recovery as investment slowly begins to return despite the scale of destruction after years of conflict.
Thailand’s caretaker Prime Minister Anutin Charnvirakul said on Saturday (13 December) that Thai forces would continue military action along the Cambodia border until Bangkok believes there is no longer a threat to Thai territory or civilians.
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