Iran
Ayandeh Bank declared bankrupt
Iran’s central bank has declared Ayandeh Bank bankrupt and transferred its assets to the state-owned Bank Melli, in a rare move within the country’s heavily sanctioned economy.
IMF says making 'excellent progress' in talks with Egypt
1 min Mena Today
There was "excellent progress" in talks with Egypt to enhance its IMF loan program, and "comprehensive support" was needed to help the country deal with pressures posed by refugees from the war in Gaza, the International Monetary Fund said on Thursday.
IMF spokesperson Julie Kozack told a regular news briefing that IMF staff and Egyptian authorities agreed on the main elements of program changes under combined first and second reviews © Mena Today
There was "excellent progress" in talks with Egypt to enhance its IMF loan program, and "comprehensive support" was needed to help the country deal with pressures posed by refugees from the war in Gaza, the International Monetary Fund said on Thursday.
IMF spokesperson Julie Kozack told a regular news briefing that IMF staff and Egyptian authorities agreed on the main elements of program changes under combined first and second reviews of Egypt's existing $3 billion loan and "authorities have expressed a strong commitment" to them.
She declined to discuss details of the Egypt package as the negotiations are continuing.
Regarding pressure on the talks posed by the issue of Gaza refugees, Kozack said: "There is a need to have a very comprehensive support package for Egypt and we're working very closely with both the Egyptian authorities and their partners to ensure that Egypt does not have any residual financing needs and also to ensure that the program is able to ensure macroeconomic and financial stability in Egypt."
By Andrea Shalal
Related
Morocco
From coal to clean: Morocco accelerates energy transition
Morocco has announced an ambitious plan to fully phase out coal power by 2040—if international climate finance is secured—according to a statement by the Powering Past Coal Alliance (PPCA), a global coalition of governments and organizations working to accelerate the transition from coal to clean energy.
Qatar
Qatar’s energy Minister: Trade rules could undermine LNG supply
Qatar’s Energy Minister, Saad al-Kaabi, has urged gas-producing nations to take a firm stance against what he called “trade barriers and discriminatory measures” that threaten the free flow of energy products, particularly natural gas.
Subscribe to our newsletter
