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.
Azerbaijani President Ilham Aliyev is holding a one-on-one meeting with Russian President Vladimir Putin in Dushanbe on Wednesday....
Colombian President Gustavo Pietro has said that the last boat bombed by the Trump led administration was a Colombian vessel carrying Colombian citize...
Hungarian author László Krasznahorkai has been awarded the 2025 Nobel Prize in Literature for his "compelling and visionary oeuvre" that, in the mid...
The Iranian Minister of Road and Urban Development Farzaneh Sadegh is scheduled to visit Baku next week to take part in the tri-lateral meeting betwee...
UK Prime Minister Keir Starmer and his Indian counterpart, Narendra Modi, hailed their countries’ new trade deal during talks in Mumbai, with London...
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.
Video from the USGS (United States Geological Survey) showed on Friday (19 September) the Kilauea volcano in Hawaii erupting and spewing lava.
At least eight people have died and more than 90 others were injured following a catastrophic gas tanker explosion on a major highway in Mexico City’s Iztapalapa district on Wednesday, authorities confirmed.
At least 69 people have died and almost 150 injured following a powerful 6.9-magnitude earthquake off the coast of Cebu City in the central Visayas region of the Philippines, officials said, making it one of the country’s deadliest disasters this year.
Authorities in California have identified the dismembered body discovered in a Tesla registered to singer D4vd as 15-year-old Celeste Rivas Hernandez, who had been missing from Lake Elsinore since April 2024.
A powerful 7.4-magnitude earthquake struck off Russia’s Kamchatka Peninsula on 13 September with no tsunami threat, coming just weeks after the region endured a devastating 8.8-magnitude quake — the strongest since 1952.
Azerbaijani President Ilham Aliyev is holding a one-on-one meeting with Russian President Vladimir Putin in Dushanbe on Wednesday.
Colombian President Gustavo Pietro has said that the last boat bombed by the Trump led administration was a Colombian vessel carrying Colombian citizens.
Hungarian author László Krasznahorkai has been awarded the 2025 Nobel Prize in Literature for his "compelling and visionary oeuvre" that, in the midst of apocalyptic terror, reaffirms the power of art," according to the Swedish Academy.
UK Prime Minister Keir Starmer and his Indian counterpart, Narendra Modi, hailed their countries’ new trade deal during talks in Mumbai, with London unveiling £1.3 billion in new Indian investments and both leaders pledging deeper cooperation in technology and education.
Start your day informed with AnewZ Morning Brief: here are the top news stories for the 9th of October, covering the latest developments you need to know.
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