CAIRO — Haitham El-Tabei and Menna Farouk Egypt's economy has been in crisis for years, but as the latest round of International Monetary Fund (IMF)-backed reforms bites, much of the country's middle class has found itself struggling to afford goods once considered basics.
CAIRO — Haitham El-Tabei and Menna Farouk Egypt's economy has been in crisis for years, but as the latest round of International Monetary Fund -backed reforms bites, much of the country's middle class has found itself struggling to afford goods once considered basics.The world lender has long backed measures in Egypt, including a liberal currency exchange market and weaning the public away from subsidies.
Amid growing public frustration, officials have recently signaled a potential re-evaluation of the IMF program.'If these challenges will make us put unbearable pressure on public opinion, then the situation must be reviewed with the IMF,' President Abdel Fattah al-Sisi said last month.Prime Minister Mostafa Madbouly also ruled out any new financial burdens on Egyptians 'in the coming period' without specifying a timeframe.
Reforms Forces Egypt's Middle Class To Cuts Costs
Philippines Latest News, Philippines Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Egypt wants two-day truce in Gaza in hope of full ceasefireCAIRO — Egyptian President Abdel Fattah al-Sisi has proposed a two-day truce in Gaza and limited hostage exchange aimed at securing “a complete ceasefire”
Read more »
Egypt proposes two-day Gaza truceCAIRO — Egypt's President Abdel Fattah al-Sisi has proposed a two-day truce in the Gaza Strip and limited hostage exchanges aimed at securing 'a complete ceasefire' after more than a year of war between Israel and Hamas.
Read more »
A grand museum displaying Egypt’s ancient treasures is opening for a trial run | Ahmed HatemCAIRO—The Grand Egyptian Museum will open 12 halls with exhibits about ancient Egypt in its main galleries starting this week in a trial run ahead of the still-unannounced official opening, officials said on Tuesday The museum, a mega-project near the famed Giza Pyramids which has cost well over $1 billion so...
Read more »
Logina Salah of Egypt proudly competes in Miss Universe 2024 despite skin conditionLatest Philippine news from GMA News and 24 Oras. News, weather updates and livestreaming on Philippine politics, regions, showbiz, lifestyle, science and tech.
Read more »
Egypt hosts 1.2 million Sudanese, with ‘hundreds’ arriving daily —UNLatest Philippine news from GMA News and 24 Oras. News, weather updates and livestreaming on Philippine politics, regions, showbiz, lifestyle, science and tech.
Read more »
IMF, World Bank chiefs vow to work with TrumpTHE heads of the World Bank and International Monetary Fund (IMF) on Tuesday said they would work with the incoming US president, Republican Donald Trump, underscoring the importance of private sector funding for developing countries hit by climate change.
Read more »