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 240-megawatt Khizi-Absheron Wind Power Plant has been inaugurated in Azerbaijan on Thursday (8 Jan) by President Illham Aliyev, who described the ...
Snow and ice stalled travellers in northwest Europe on Wednesday, forcing around a thousand to spend the night in Amsterdam's Schiphol airport but del...
Start your day informed with AnewZ Morning Brief: here are the top news stories for the 8th of January, covering the latest developments you need to k...
A 37-year-old U.S. citizen was shot dead by a federal immigration agent in Minneapolis on Wednesday (7 January) during an Immigration and Customs Enfo...
Russian attacks late on Wednesday (7 January) left almost all of Dnipropetrovsk and Zaporizhzhia regions without electricity, Ukrainian authorities sa...
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.
Open-source intelligence (OSINT) sources reported a significant movement of U.S. military aircraft towards the Middle East in recent hours. Dozens of U.S. Air Force aerial refuelling tankers and heavy transport aircraft were observed heading eastwards, presumably to staging points in the region.
Diplomatic tensions between Tokyo and Beijing escalated as Japan slams China's export ban on dual-use goods. Markets have wobbled as fears grow over a potential rare earth embargo affecting global supply chains.
Two people have been killed after a private helicopter crashed at a recreation centre in Russia’s Perm region, Russian authorities and local media have said.
Iran’s chief justice has warned protesters there will be “no leniency for those who help the enemy against the Islamic Republic”, as rights groups reported a rising death toll during what observers describe as the country’s biggest wave of unrest in three years.
Snow and ice stalled travellers in northwest Europe on Wednesday, forcing around a thousand to spend the night in Amsterdam's Schiphol airport but delighting others who set out to explore a snow-blanketed Paris on sledges and skis.
Start your day informed with AnewZ Morning Brief: here are the top news stories for the 8th of January, covering the latest developments you need to know.
Russian attacks late on Wednesday (7 January) left almost all of Dnipropetrovsk and Zaporizhzhia regions without electricity, Ukrainian authorities said, amid freezing temperatures and worsening winter conditions.
A 37-year-old U.S. citizen was shot dead by a federal immigration agent in Minneapolis on Wednesday (7 January) during an Immigration and Customs Enforcement (ICE) operation, sparking protests and an investigation.
Power has been fully restored to a neighbourhood in Berlin after an arson attack triggered a blackout that lasted more than four days - the second such incident in the city since September.
Ukrainian President Volodymyr Zelenskyy has called on the United States to target Ramzan Kadyrov, the leader of Russia’s Chechnya region, with an operation similar to the recent U.S. action that captured Venezuelan President Nicolás Maduro.
You can download the AnewZ application from Play Store and the App Store.
What is your opinion on this topic?
Leave the first comment