عربي English Türkçe اردو فارسى
Logo
Latest News
Business

'Fruitful' Discussions Between IMF, Egypt

The International Monetary Fund (IMF) logo is seen outside the headquarters building in Washington, United States, September 4, 2018. REUTERS/Yuri Gripas/File Photo
The International Monetary Fund (IMF) logo is seen outside the headquarters building in Washington, United States, September 4, 2018. REUTERS/Yuri Gripas/File Photo
TT
20
TT

'Fruitful' Discussions Between IMF, Egypt

The International Monetary Fund (IMF) logo is seen outside the headquarters building in Washington, United States, September 4, 2018. REUTERS/Yuri Gripas/File Photo
The International Monetary Fund (IMF) logo is seen outside the headquarters building in Washington, United States, September 4, 2018. REUTERS/Yuri Gripas/File Photo

The International Monetary Fund’s discussions with Egypt will continue virtually towards starting its first review mission, according to an IMF statement.

Discussion between the IMF and Egypt were "fruitful" in preparation for the review, the statement said Sunday.

The IMF in December approved a $3 billion Extended Fund Facility loan for Egypt.

Disbursements under the 46-month program are subject to eight reviews, the first of which was dated March 15, 2023, in an IMF staff report published in December.

Most Viewed

 
Business

Saudi Arabia Boosts Strategic Partnership with Indonesia in Mining, Food, Pharmaceutical Industries

Saudi Arabia Boosts Strategic Partnership with Indonesia in Mining, Food, Pharmaceutical Industries
TT
20
TT

Saudi Arabia Boosts Strategic Partnership with Indonesia in Mining, Food, Pharmaceutical Industries

Saudi Arabia Boosts Strategic Partnership with Indonesia in Mining, Food, Pharmaceutical Industries

Minister of Industry and Mineral Resources Bandar Alkhorayef is leading a high-level delegation from the Kingdom’s industry and mining ecosystem on an official visit to Indonesia from April 15 to 17 to strengthen bilateral economic ties.
The visit aims to attract high-quality investments to the Kingdom and explore mutual investment opportunities in the mining sector and various industrial fields, particularly food, pharmaceuticals, and auto parts, aligning with the objectives of the Kingdom Vision 2030 to diversify the economy and position the Kingdom as a leading global industrial power, SPA reported.
The delegation will participate in high-level strategic meetings with senior government officials from various Indonesian ministries and will also meet with leaders of major Indonesian companies in mining, food, pharmaceutical, and other strategic industrial sectors.

Key meetings in Jakarta will include sessions with the minister of energy and mineral resources and the minister of industry, in addition to discussions with private sector leaders such as the CEO of PT Vale and the chairman of BioPharma.
Indonesia is considered a strategic partner for the Kingdom in Southeast Asia. By the end of 2023, bilateral trade between the two countries reached SAR22.5 billion, with Saudi exports amounting to SAR15 billion and Indonesian imports totaling over SAR7.5 billion.

These figures reflect the strength of economic relations and the mutual interest in expanding areas of cooperation and capitalizing on available opportunities in key sectors. Globally, Indonesia’s exports reached approximately SAR814 billion in 2024, marking a 1.3% annual increase.
Alkhorayef’s visit sets the stage for a new phase in bilateral relations, with both sides focused on building a long-term strategic partnership that supports their local economies and enhances economic integration between the two nations.