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.
Bulgarian authorities have detained Igor Grechushkin, the Russian owner of a cargo ship linked to the ammonium nitrate at the heart of the 2020 Beirut...
Authorities have requested the arrest of five individuals in an investigation into Can Holding, a major business group....
The UK will deploy Royal Air Force Typhoon jets to Poland in response to Russian drone incursions, Prime Minister Keir Starmer announced on Monday....
U.S. military officers observed joint war games between Russia and Belarus on Monday for the first time since Moscow used Belarus as a launchpad to en...
A framework deal has been reached between the U.S. and China over the ownership of social media platform TikTok, U.S. Treasury Secretary Scott Bessent...
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.
AnewZ has learned that India has once again blocked Azerbaijan’s application for full membership in the Shanghai Cooperation Organisation, while Pakistan’s recent decision to consider diplomatic relations with Armenia has been coordinated with Baku as part of Azerbaijan’s peace agenda.
A day of mourning has been declared in Portugal to pay respect to victims who lost their lives in the Lisbon Funicular crash which happened on Wednesday evening.
A Polish Air Force pilot was killed on Thursday when an F-16 fighter jet crashed during a training flight ahead of the 2025 Radom International Air Show.
Music mega-star Taylor Swift and National Football League player Travis Kelce announced their engagement. “Your English teacher and your gym teacher are getting married," the couple wrote in a joint Instagram post, alongside photos of Kelce proposing to Swift in a garden of pink and white flowers.
Bulgarian authorities have detained Igor Grechushkin, the Russian owner of a cargo ship linked to the ammonium nitrate at the heart of the 2020 Beirut port explosion, Lebanese judicial officials said.
Authorities have requested the arrest of five individuals in an investigation into Can Holding, a major business group.
The UK will deploy Royal Air Force Typhoon jets to Poland in response to Russian drone incursions, Prime Minister Keir Starmer announced on Monday.
U.S. military officers observed joint war games between Russia and Belarus on Monday for the first time since Moscow used Belarus as a launchpad to enter Ukraine, as U.S. President Donald Trump deepens ties with Moscow's closest ally.
A framework deal has been reached between the U.S. and China over the ownership of social media platform TikTok, U.S. Treasury Secretary Scott Bessent said following trade talks in Madrid.
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