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.
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.
Christmas events are celebrated in Syria's capital Damascus, just thirteen days after the defeat of President Bashar Al-Assad's regime.
Hungarian Prime Minister Viktor Orban faces political challenges as U.S. tariffs threaten Hungary's economy. With opposition parties gaining momentum ahead of the 2024 elections, critics argue for a Europe-focused approach, criticizing Orban’s ties with Trump and his economic handling.
Indian security forces are conducting widespread searches across Kashmir after a deadly militant attack in Pahalgam killed 26 people, escalating tensions with Pakistan. India accuses Pakistan of backing the militants, though Islamabad denies involvement. Both nations have taken retaliatory measures,
U.S. envoy Steve Witkoff met Putin in Moscow to advance peace talks on Ukraine. This follows Trump’s criticism of a deadly Russian missile strike on Kyiv, but Trump remains optimistic about reaching a deal. Witkoff also met with Russia’s investment envoy, Dmitriev.
On April 24-25, Russian drone strikes on Dnipropetrovsk Oblast killed 3, including a 15-year-old girl, and injured 14, including 3 children. The attack caused fires, infrastructure damage, and power outages. Ukrainian air defenses destroyed 11 drones, with ongoing recovery efforts.
The U.S. is set to offer Saudi Arabia a weapons deal worth over $100B during Trump’s visit in May. The package includes advanced systems like drones and C-130 planes, with discussions on F-35 jets. The deal follows Biden’s failed defense pact negotiations.
China has rolled out the world’s first 10-gigabit (10G) fixed broadband network in Xiong'an New Area, promising ultra-fast speeds and low latency through cutting-edge optical infrastructure.
The Holy Fire ceremony stands as one of Christianity's most enduring and mysterious rituals, drawing thousands of pilgrims to Jerusalem each year.
Pope Francis's relationship with Azerbaijan has evolved significantly over the years, characterized by diplomatic exchanges, promotion of religious tolerance, and peace advocacy in the Caucasus region.
Russia launched a major missile and drone assault on Kyiv overnight on April 24, killing at least twelve people and injuring 90, including children and a pregnant woman, according to Mayor Vitali Klitschko.
China’s pivot away from U.S. liquefied petroleum gas under new tariffs is shaking global energy flows, slashing demand, and fuelling a scramble for alternatives across Asia, with Middle Eastern suppliers and rival buyers seizing the moment.
Hungarian Prime Minister Viktor Orban faces political challenges as U.S. tariffs threaten Hungary's economy. With opposition parties gaining momentum ahead of the 2024 elections, critics argue for a Europe-focused approach, criticizing Orban’s ties with Trump and his economic handling.
Indian security forces are conducting widespread searches across Kashmir after a deadly militant attack in Pahalgam killed 26 people, escalating tensions with Pakistan. India accuses Pakistan of backing the militants, though Islamabad denies involvement. Both nations have taken retaliatory measures,
U.S. envoy Steve Witkoff met Putin in Moscow to advance peace talks on Ukraine. This follows Trump’s criticism of a deadly Russian missile strike on Kyiv, but Trump remains optimistic about reaching a deal. Witkoff also met with Russia’s investment envoy, Dmitriev.
On April 24-25, Russian drone strikes on Dnipropetrovsk Oblast killed 3, including a 15-year-old girl, and injured 14, including 3 children. The attack caused fires, infrastructure damage, and power outages. Ukrainian air defenses destroyed 11 drones, with ongoing recovery efforts.
The U.S. is set to offer Saudi Arabia a weapons deal worth over $100B during Trump’s visit in May. The package includes advanced systems like drones and C-130 planes, with discussions on F-35 jets. The deal follows Biden’s failed defense pact negotiations.
Hungarian Prime Minister Viktor Orban faces political challenges as U.S. tariffs threaten Hungary's economy. With opposition parties gaining momentum ahead of the 2024 elections, critics argue for a Europe-focused approach, criticizing Orban’s ties with Trump and his economic handling.
Indian security forces are conducting widespread searches across Kashmir after a deadly militant attack in Pahalgam killed 26 people, escalating tensions with Pakistan. India accuses Pakistan of backing the militants, though Islamabad denies involvement. Both nations have taken retaliatory measures,
U.S. envoy Steve Witkoff met Putin in Moscow to advance peace talks on Ukraine. This follows Trump’s criticism of a deadly Russian missile strike on Kyiv, but Trump remains optimistic about reaching a deal. Witkoff also met with Russia’s investment envoy, Dmitriev.
On April 24-25, Russian drone strikes on Dnipropetrovsk Oblast killed 3, including a 15-year-old girl, and injured 14, including 3 children. The attack caused fires, infrastructure damage, and power outages. Ukrainian air defenses destroyed 11 drones, with ongoing recovery efforts.
The U.S. is set to offer Saudi Arabia a weapons deal worth over $100B during Trump’s visit in May. The package includes advanced systems like drones and C-130 planes, with discussions on F-35 jets. The deal follows Biden’s failed defense pact negotiations.
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