Daily Archives: May 12, 2020

Egypt chairs virtual meeting of Arab ministers of culture

Minister of Culture Enas Abdel Dayyem chaired on Monday May 11, 2020, the first extraordinary virtual meeting of the Arab ministers of culture to discuss the cultural impact of the coronavirus crisis in the Arab world.

Held upon the initiative …

Egypt launches EGP 3 bln initiative to support tourism

The Ministry of Finance launched on Monday, May11, 2020, an initiative to support the tourism and hotels sector against the harsh impacts of the COVID-19 pandemic.
Minister of Finance Mohamed Maait stated the initiative came in response to President Abdel-Fattah …

IMF approves dlrs 2.772 bln in emergency support to Egypt

The Egyptian authorities have launched a comprehensive package to contain the economic impact of the COVID-19 shock.

The RFI will help alleviate some of the most pressing financing needs, including for spending on health, social protection, and supporting the most …

Moody’s affirms Egypt’s B2 rating; outlook stable

Moody’s Investors Service (“Moody’s”) has affirmed the long-term foreign and local currency issuer ratings of the Government of Egypt at B2. The outlook remains stable. Moody’s has also affirmed Egypt’s foreign currency senior unsecured ratings at B2, and its foreign …

Egypt, Greece and Cyprus denounce Turkey’s latest activities

The foreign ministers of Egypt, Greece and Cyprus denounced the “illegal moves” Turkey made in the territorial waters of Cyprus and its violation of Greek airspace.
The three countries issued a joint statement on Monday, May 11, 2020, following a …