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.
Kazakhstan has completed the ratification of a migration cooperation agreement with Armenia, marking a new phase in simplifying cross-border movement ...
The European Commission on Thursday proposed four European flagship defence projects - including a counter-drone system and a plan to fortify the east...
Yemen's Houthis said on Thursday that their Chief of Staff Muhammad Abd Al-Karim al-Ghamari, one of the most senior military officials of the Iran-bac...
Saudi Crown Prince Mohammed bin Salman has unveiled a major development project near Mecca’s Grand Mosque that will add approximately 900,000 new in...
A planned meeting between Georgian Prime Minister Irakli Kobakhidze and the OSCE Chairperson-in-Office, Finnish Foreign Minister Elina Valtonen, was a...
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 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 tsunami threat was issued in Chile after a magnitude 7.8 earthquake struck the Drake Passage on Friday. The epicenter was located 135 miles south of Puerto Williams on the north coast of Navarino Island.
The war in Ukraine has reached a strategic impasse, and it seems that the conflict will not be solved by military means. This creates a path toward one of two alternatives: either a “frozen” phase that can last indefinitely or a quest for a durable political regulation.
The European Commission on Thursday proposed four European flagship defence projects - including a counter-drone system and a plan to fortify the eastern border - as part of a drive to get the continent ready to defend itself by 2030.
Yemen's Houthis said on Thursday that their Chief of Staff Muhammad Abd Al-Karim al-Ghamari, one of the most senior military officials of the Iran-backed group, was killed "while fulfilling his duties".
Saudi Crown Prince Mohammed bin Salman has unveiled a major development project near Mecca’s Grand Mosque that will add approximately 900,000 new indoor and outdoor praying spaces, according to the company overseeing the plan.
Türkiye has appointed Mehmet Gulluoglu, former head of its disaster management agency AFAD, to lead its humanitarian aid efforts in Gaza, a Foreign Ministry source confirmed.
French Prime Minister Sebastien Lecornu survived two no-confidence votes in parliament on Thursday, winning crucial backing from the Socialist Party.
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