Egypt Economy continues its process toward an economic stabilization with the approval of the last loan from Arab Monetary Fund. The House of Representatives ratified Presidential Decree No. 144 of 2017 concerning the approval of the third compensatory loan contract between the Egyptian government and the Arab Monetary Fund, signed on December 7, 2016. The main goal of this loan is to provide foreign exchange resources and to support overall deficit in Egypt’s balance of payment. The loan reach $332 millions, and Egypt is committed to paying 1.61 percent per annum in interest on the loan.
US Congress leaders have reached a bipartisan deal on around $1 trillion in federal funding to avert a government shutdown on Friday this week. The proposed pact, reached by Republican and Democratic late on Sunday, will fund public spending until September. It will be put to a vote in the following days both in the Senate and in the House of Representatives. The agreement makes the US “stronger and safer”, House Speaker Paul Ryan said in statement, because “it acts on President Trump’s commitment to rebuild our military for the 21st century and bolster our nation’s border security to protect our homeland”.
The members of Misrata of the House of Representatives and the State Council have joined forces to demand to Presidency Council, that the Central Bank of Libya and the Audit Bureau provide proper funding for the Bunyan Marsous military operation so that it can finish the battle against the Islamic State in Sirte. “The group of Misrata representatives follow with concern the continued demands by the Bunyan Marsus Operations Room for necessary financial support to run the military operations against Daesh in Sirte,” a statement read. The group comprises Omar Abu Leefa, Hana Al-Arafi, Fathi Bashagha, Suleiman Al-Fagieh, Aisha Ghaliwan, Belgassem Gzeit, Mohamed Hneish, Jamal Karwad, Mohamed Raied, Abdulrahman Sewehli and Mohamed Al-Taib.