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.
Counting is underway in Armenia's elections. The results of the vote are set to determine the political direction of the country of three million peop...
The Iranian national football team is set to arrive in North America for the World Cup after finally securing travel documents, but a dispute over U.S...
Azerbaijan's Foreign Ministry has confirmed the number of casualties its citizens suffered as a result of the 5 June drone attacks on the cargo ships ...
The U.S. plans to seek the redirection of Iranian assets to Gulf states to help fund reconstruction and repairs for damage attributed to Iran, a sourc...
At least a dozen people were wounded, two critically, on Saturday (6 June) in Toledo, Ohio, as two shooters traded gunfire, police said....
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.
Counting is underway in Armenia's elections. The results of the vote are set to determine the political direction of the country of three million people for the next few years. Prime Minister Nikol Pashinyan is hoping to fend off challenges from several pro-Russia candidates to secure a third term.
Armenian authorities arrested six candidates from the pro-Russian Strong Armenia bloc on Saturday, one day before voters were due to take part in parliamentary elections.
More than 6,000 people gathered outside a vote-counting centre in Seoul on Friday night, demanding this week’s local elections be repeated after ballot shortages left some voters unable to cast their ballots.
Azerbaijan's Foreign Ministry has confirmed the number of casualties its citizens suffered as a result of the 5 June drone attacks on the cargo ships Natra and Zircon in the Sea of Azov. In a statement, it said four Azerbaijani citizens were killed and four others were injured.
The U.S. said it struck Iranian radar sites on Qeshm Island and in Goruk after intercepting four drones, while Iran's Revolutionary Guards said they launches retaliatory strikes on four tankers in the Strait of Hormuz and targeted U.S. bases in the Gulf.
The Iranian national football team is set to arrive in North America for the World Cup after finally securing travel documents, but a dispute over U.S. visa approvals continues to cast a shadow over the country's tournament preparations.
At least a dozen people were wounded, two critically, on Saturday (6 June) in Toledo, Ohio, as two shooters traded gunfire, police said.
Start your day informed with the AnewZ Morning Brief. Here are the top stories for the 7 June, covering the latest developments you need to know.
Iraqi Prime Minister Ali Falih al‑Zaidi will pay an official visit to the United States, bringing with him a delegation of business leaders, private‑sector representatives and banking officials, in an effort to boost investment and deepen economic ties with Washington.
People across Gaza are facing a worsening humanitarian crisis, with millions struggling to access food, clean water, shelter and medical care as the conflict continues.
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