Egypt economy - updates

Rappler's latest stories on Egypt economy

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IMF approves $5.2-billion, 1-year loan program for Egypt

Jun 27, 2020 - 9:00 AM

The International Monetary Fund's new loan for Egypt comes on top of $2.8 billion in emergency aid approved in May 2020

NEARLY EMPTY. A view of the area around Bab Zuweila (background), one of the remaining gates in the walls of the old medieval city of Egypt's capital Cairo, on April 24, 2020. Photo by Mohamed el-Shahed/AFP

Egypt cleans up for return of tourists

Jun 10, 2020 - 10:15 PM

Egypt looks to slowly open up to tourists in the summer season, promising 'exemplary sanitary conditions'

(FILES) In this file photo taken on March 25, 2020 Egyptian municipality workers disinfect the Giza pyramids necropolis on the southwestern outskirts of the Egyptian capital Cairo, as protective a measure against the spread of the coronavirus COVID-19. - Hotels have ramped up hygiene, archaeological sites have been sanitised and beaches cleaned up -- Egypt is gearing up to welcome back tourists kept away by the coronavirus pandemic. Egypt has since March halted air traffic and shuttered archaeological sites, museums and hotels to stem the spread of COVID-19. The North African country, like elsewhere, has in recent weeks started loosening confinement measures as it looks to slowly open up to tourists in the summer season. (Photo by Khaled DESOUKI / AFP)

IMF approves $2.77-billion emergency virus loan for Egypt

May 12, 2020 - 7:25 AM

The International Monetary Fund says Egypt's economy had seen a 'remarkable turnaround' prior to the coronavirus pandemic, but that progress is now threatened

ECONOMIC BLOW. Egyptians look at traditional lanterns sold during the Muslim holy month of Ramadan in Cairo's Sayeda Zainab neighborhood on April 19, 2020. Photo by Mohamed el-Shahed/AFP

Egypt reopens slowly to revive pandemic-hit economy

May 06, 2020 - 11:30 AM

The Egyptian government gradually loosens coronavirus measures, but tourism – its biggest cash cow – is reeling from the crisis

This picture taken on April 24, 2020 on the first Friday of the Muslim holy month of Ramadan shows a view of the area around Bab Zuweila (background), one of the remaining gates in the walls of the old medieval city of Egypt's capital Cairo, almost empty due to the COVID-19 coronavirus pandemic. (Photo by Mohamed el-Shahed / AFP)

Egypt seeks aid from IMF amid virus-inflicted downturn

Apr 27, 2020 - 12:10 AM

(UPDATED) Egyptian Prime Minister Mostafa Madbouli does not specify the size of the one-year financial aid package the government is seeking from the International Monetary Fund

Egyptians look at traditional lanterns known in Arabic as "Fanous" sold during the Muslim holy month of Ramadan in Cairo's Sayeda Zainab neighbourhood, on April 19, 2020. - From cancelled iftar feasts to suspended mosque prayers, Muslims across the Middle East are bracing for a bleak month of Ramadan fasting as the threat of the COVID-19 pandemic lingers. Ramadan is a period for both self reflection and socialising. Believers fast from dawn to dusk and then gather around a family or community meal each evening of Islam's holiest month, which begins later this week and ends with Eid al-Fitr festivities. (Photo by Mohamed el-Shahed / AFP)

Egypt's fragile tourism sector braces for coronavirus impact

Mar 10, 2020 - 2:30 PM

There are fears that Egypt's tourism industry – key to the country's economy – may suffer due to the novel coronavirus outbreak

Tourists visit the Karnak Temple Complex in Egypt's southern city of Luxor, on March 8, 2020. - Egyptian crew and foreign passengers on a Nile cruise ship on which 45 suspected novel coronavirus cases had been detected disembarked Sunday in the southern city of Luxor. The health ministry said the cases would be quarantined even though 11 of them had tested negative in follow-up tests. The "A Sara" docked in Luxor days after authorities were alerted that a foreign tourist who had previously disembarked had contracted the virus and infected others onboard. (Photo by - / AFP)

Egypt conference courts foreign investors after unrest

Mar 13, 2015 - 10:19 PM

General Electric Unilever British Petroleum ENI and HSBC are among companies and banks attending

Egypt's Morsi downplays economic crisis

Dec 29, 2012 - 11:42 PM

Egypt s President Mohamed Morsi downplayed on Saturday December 29 the country s teetering economy before a newly empowered senate and insisted that a new constitution that fueled protests guaranteed equality