James Crosbie

1 Crosbie Pl 201

A1B 3Y8 St. John's, NL

Canada

Egypt initiates talks with EU, int'l partners on Macro-Financial Assistance 2nd phase

Egypt has initiated talks with the European Union and international partners on the second phase of the Macro-Financial Assistance mechanism.

The ministry underlined that merely 0.3 percent of grants got rejected, mostly because of not submitting the necessary documents.

Hassan El-Khatib, Minister of Investment and Foreign Trade, highlighted the vital contribution of Egyptians working abroad to the country's economy.

Data from the Central Bank of Egypt (CBE) showed that the monthly core inflation rate was 0.9 percent in December 2024.

The law specifies that the increase in Egypt's contribution to the IMF comes with a reservation.

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