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Egypt import controls will not prevent devaluation

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EGYPT

British Airways stopped selling tickets in Egyptian pounds because it could not convert earnings into dollars. At end of February, Egypt's foreign reserves stood 16.53 billion…

Financing shortfall will push Oman to uneasy austerity

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OMAN

A fiscal crunch exacerbated by the pandemic and associated oil-price crash has forced the authorities to step up long-term ‘Omanisation’ efforts, ultimately taking pressure off…

Jordanian stability will outface economic challenges

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JORDAN

Activists had threatened more protests if progress were not achieved by that deadline. There have been no reforms as yet and a new draft income-tax law offered for public…

Lebanon’s central bank vacuum heralds more devaluation

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LEBANON

A cabinet meeting yesterday to discuss a replacement failed to achieve quorum, as key political forces boycotted it. The first deputy governor, who succeeds by default, has…

International aid will bolster Iraqi federal state

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IRAQ

The 5.3-billion-dollar loan is part of a broader international aid programme. The SBA loan will be disbursed over three years in 13 quarterly installments, including a first…

Lebanese economy on course for muted recovery in 2015

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LEBANON

According to its Global Economic Prospects report, the bank forecast a modest increase in GDP growth in 2015 to 2.0%, up from an estimated 1.5% in 2014. Since 2011, the economy…

Political challenges in Lebanon face the IMF agreement

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LEBANON

The government had met a number of the IMF’s conditions, including the passage of a capital control law and an electricity sector reform plan. It had also completed an audit to…

Budget deficit may prompt Egypt to return to IMF

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EGYPT

Egypt's budget deficit woes.

Tunisia will walk a financial tightrope

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TUNISIA

The president has repeatedly rejected the idea of resuming negotiations with the international lender. Instead, he aims gradually to reduce dependence on external financing from…

Lebanese government will likely limp toward reform

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LEBANON

The cabinet held its first meeting on February 2, ending 254 days of political deadlock that threatened to bring down the economy.