Tag Archives: IMF loan

The International Monetary Fund said on Sunday it was willing to redouble efforts to help Lebanon after the devastating blast that hit Beirut, but said all of the country’s institutions needed to show willingness to carry out reforms. In a statement to an emergency donor conference for Lebanon, the IMF’s …

Lebanon’s Foreign Minister Nassif Hitti resigned on Monday over what he described as lack of political will to reform as his nation wrestles with a financial crisis posing the biggest threat to stability since a 1975-1990 civil war. Foreign donors have made it clear there will be no aid until …

One Lebanese woman asked for sugar, milk and soap in exchange for a child’s dress. Another wanted canned goods in return for gym equipment. A 65-year-old seamstress now exchanges her sewing services for food, because her clients can no longer afford to pay her. Bartering on Facebook has become the …

Dozens of people lay flowers on a main Beirut street where a man killed himself on Friday, with some blaming his death on the country’s economic collapse that has left more and more Lebanese hungry. Reuters could not establish the motive for the apparent suicide. The 61-year-old man shot himself …

As accelerating poverty fuels anger, despair and fear of a social explosion, efforts by Lebanon’s ruling elite to salvage the country from a financial meltdown with IMF help seem to be going in reverse. A country known across the Middle East for its glamorous lifestyle and commercial savoir faire now …

The coronavirus is putting Egypt’s private cement industry under even more pressure. Already scrambling to respond to competition from a vast new factory owned by the military, the pandemic has stymied a nascent rebound in sales, raising the possibility of plant closures, industry executives and analysts say. Demand for cement …

Egypt plans to launch its first sovereign fund by the end of the year and will begin a roadshow in the first half of 2019 to drum up private investment, the country’s planning minister said. Modelled after sovereign funds in India and Malaysia, Egypt’s new investment arm will seek to …